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Net Worth - Blind Poll

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Net Worth - Blind Poll

Last updated: August 2 2016
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  • #41

    #41

    Re : Net Worth - Blind Poll

    Some defects in this poll:-

    > The networth never considers immovable assets, especially the living home. Just check out how HNIs are described as. This means if someone has bought a house even on 100% downpayment, it doesn't add up to his networth as it can't be sold in lieu for something.

    > Networth is variable. Inflation & increments changes things.

    Last but not the least, even if one has INR 100,000 Cr in cash, does it mean s/he should go & buy some junk flat at Wakad on DP road for 50L??
    Just because the budget is of 30L, it doesn't mean one goes & buys Maruti Alto for 20L. VFM, VFM & VFM. One needs to have a 'Baniya' attitude in this regard.
    If you are happy, you are successful.

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    • #42

      #42

      Re : Net Worth - Blind Poll

      Originally posted by realacres View Post
      Some defects in this poll:-

      > The networth never considers immovable assets, especially the living home. Just check out how HNIs are described as. This means if someone has bought a house even on 100% downpayment, it doesn't add up to his networth as it can't be sold in lieu for something.

      > Networth is variable. Inflation & increments changes things.

      Last but not the least, even if one has INR 100,000 Cr in cash, does it mean s/he should go & buy some junk flat at Wakad on DP road for 50L??
      Just because the budget is of 30L, it doesn't mean one goes & buys Maruti Alto for 20L. VFM, VFM & VFM. One needs to have a 'Baniya' attitude in this regard.
      - You are wrong networth is networth. I dont know what HNIs do.
      - Well everything is variable including whats VFM
      - Major flaw is to assume markets are rational. Such naive attitude will make one big losses. It is all driven by demand and supply. Value lies in the eyes of beholder. And it is true that when you have more money it will end up chasing goods that are in short supply.
      When the facts change, I change my mind. What do you do, sir? - John Maynard Keynes

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      • #43

        #43

        Re : Net Worth - Blind Poll

        Networth always excludes own house.

        Unless you are thinking of dying and leaving your networth to your children and are making a will - only then you include own house.
        Venky (Please read watch a or before posting)

        Comment

        • #44

          #44

          Re : Net Worth - Blind Poll

          Originally posted by Venkytalks View Post
          Networth always excludes own house.

          Unless you are thinking of dying and leaving your networth to your children and are making a will - only then you include own house.
          I disagree. For the purpose of discussion on this forum, it makes no sense to exclude own house from networth. We have all categories of members on this forum: People having cash but no house, people having own house but outstanding loan and people having own house and no loan. There is no way you can do a proper comparison of relative spending power amongst this group if you don't take into account own house in the networth.

          For a survey of HNI people alone, its fine to exclude principal residence from networth as you can safely assume that it would be fully paid in case of everyone and would never be sold. Thats not quite true for members on this forum.

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          • #45

            #45

            Re : Net Worth - Blind Poll

            Originally posted by aaj123 View Post
            I disagree. For the purpose of discussion on this forum, it makes no sense to exclude own house from networth. We have all categories of members on this forum: People having cash but no house, people having own house but outstanding loan and people having own house and no loan. There is no way you can do a proper comparison of relative spending power amongst this group if you don't take into account own house in the networth.

            For a survey of HNI people alone, its fine to exclude principal residence from networth as you can safely assume that it would be fully paid in case of everyone and would never be sold. Thats not quite true for members on this forum.
            Exactly that is the idea.

            If you exclude house but include your outstanding loan then that will give a incorrect view.

            Anyway I think Wiseman, Venkytalks and couple of other veterans are supreme and out of general league as I would have imagined. We can figure that out from their posts. For them I need to add option of 20 crore plus or even more. They are smart guys we need to learn from. So I am thankful for them sharing their views and experience. My only request would be if they can share executable actions that would be really good for general benefit for the public. I would rather like to focus on that than debating endless about bull or bear.

            Please note the above is written with genuine appreciation with no sarcasm or other ulterior motive.
            When the facts change, I change my mind. What do you do, sir? - John Maynard Keynes

            Comment

            • #46

              #46

              Re : Net Worth - Blind Poll

              Networth is everything that u own on paper, which has a market value and can be sold comprises of net worth. It is the difference of value of all liabilities from assets.

              For calculation sake u prefer not to use your own house as u are staying in it but it definitely is part of your net-worth. I am not considering the time-factor though.
              MM

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              • #47

                #47

                Re : Net Worth - Blind Poll

                I agree MM with you on this. MY personal wealth spreadsheet has every single penny I own in appreciating and depreciating assets

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                • #48

                  #48

                  Re : Net Worth - Blind Poll

                  Someone sent me a PM and made a good point. The net worth relative to age is important.

                  If you have 50 lakhs at the age of 25 and the same amount at the age of 55 is a big difference.

                  At 25 you have life ahead of you. At 55 you are near retirement. Person with 50 lakhs at the age 25 can leverage and buy up to 1 crore. But at 55 one is more cautious.
                  When the facts change, I change my mind. What do you do, sir? - John Maynard Keynes

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                  • #49

                    #49

                    Re : Net Worth - Blind Poll

                    Originally posted by arpit2k View Post

                    5o lack se kam ki bhi catagory rakh dete. After all India is country of poors. If someone's category is 15-25 lacs, he will hesitate to choose below 50 lack . Rather he would refrain taking part in poll.
                    This is true
                    there should be category like below 25 lacs.
                    also, staying in own home can also be avoided. what other members says ?

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                    • #50

                      #50

                      Re : Net Worth - Blind Poll

                      also add one more catagory like 200 crore to 500 crore.
                      there is only one member to vote in that catagory.
                      none other than Jitu_Sir

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