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 How much is your net worth?, gauging your financial performance.

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wongmunkeong
post Apr 6 2013, 04:07 PM

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QUOTE(gark @ Apr 6 2013, 04:04 PM)
My turn...  rclxms.gif

Thomas J. Stanley's and William D. Danko's expected net worth formulas

    Formula 1: Expected net worth = age x 0.1 x gross income.
    Formula 2: Expected net worth = age x 0.112 x gross income.

Marotta Asset Management's expected net worth formulas

    Formula 3: Expected net worth = (adult years / 240 + 0.1) x adult years x gross income; where "adult years" = age - 20.
    Formula 4: Expected net worth = [(age / 166) - 0.15] x age x gross income.

F1 : Pass...
F2 : Pass...
F3 : Pass...
F4 : Pass...

+50% or more  rclxms.gif
*
notworthy.gif U be in the >=1.49 of Stanley / Danko's stats, the median balance sheet affluence!
gark
post Apr 6 2013, 04:07 PM

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QUOTE(Pink Spider @ Apr 6 2013, 02:40 PM)
Wong Seafood, why strain my brain on my off day cry.gif

See la when I free I try tongue.gif

I get your point, Unker gark's formula is like saying, to put it simply, "saving at least 10% of gross income". If we want a more comfortable retirement years, we should do a lot better than that. flex.gif
*
Thos formula is the MINIMUM asset you should have based on your earnings and age... if below that means you are failing and need to buck up. flex.gif
gark
post Apr 6 2013, 04:07 PM

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QUOTE(wongmunkeong @ Apr 6 2013, 04:07 PM)
notworthy.gif U be in the >=1.49 of Stanley / Danko's stats, the median balance sheet affluence!
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Ada meh? I thought need to be >2? sweat.gif
wongmunkeong
post Apr 6 2013, 04:09 PM

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QUOTE(gark @ Apr 6 2013, 04:07 PM)
Ada meh? I thought need to be >2?  sweat.gif
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nandaiyo... >2 is like top end liao lor (ie. the top 75th percentile)

EDIT:
my bad Gark-san. U are right - just checked my Excel
2.49 is the "Median Balance Sheet Affluent Wealth Index (WX)" sweat.gif paiseh paiseh
hehe BIG HUGE 1 missing from my earlier blur 1.49
My apologies

This post has been edited by wongmunkeong: Apr 6 2013, 06:05 PM
AAAABBBB
post Apr 6 2013, 06:36 PM

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lazybump_nonsense
post Apr 6 2013, 06:46 PM

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Finding ways to increase net worth!

This post has been edited by lazybump_nonsense: Apr 7 2013, 12:37 AM
jerrymax
post Apr 6 2013, 07:37 PM

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ha. what pass pass pass? how to get %, why i calculate many zeroes.
Fiona Chin
post Apr 6 2013, 08:33 PM

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Nice thread for kidnappers?

This post has been edited by Fiona Chin: Apr 6 2013, 08:34 PM
newbie99
post Apr 6 2013, 08:53 PM

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QUOTE(gark @ Apr 6 2013, 01:09 PM)
Got 6 figure or not...?

To see if you have the required networth for your age use the following formula ...
Thomas J. Stanley's and William D. Danko's expected net worth formulas

    Formula 1: Expected net worth = age x 0.1 x gross income.
    Formula 2: Expected net worth = age x 0.112 x gross income.

Marotta Asset Management's expected net worth formulas

    Formula 3: Expected net worth = (adult years / 240 + 0.1) x adult years x gross income; where "adult years" = age - 20.
    Formula 4: Expected net worth = [(age / 166) - 0.15] x age x gross income.
Gross income is before tax per year.

You all can calculate if you all pass or fail.... wink.gif

Report here.  laugh.gif
*
Hi Gark,
What is a good score based on Thomas J. Stanley's and William D. Danko expected net worth formulas?
Can include investment assets like auctionable gems, paintings and work of arts? Or just base on property, cash and shares?
What is the downside of the formula? I asked because mine is almost 5x the value calculated, and I am not feeling rich.

This post has been edited by newbie99: Apr 6 2013, 08:57 PM
gark
post Apr 6 2013, 09:02 PM

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QUOTE(newbie99 @ Apr 6 2013, 08:53 PM)
Hi Gark,
What is a good score based on Thomas J. Stanley's and William D. Danko expected net worth formulas?
Can include investment assets like auctionable gems, paintings and work of arts? Or just base on property, cash and shares?
What is the downside of the formula? I asked because mine is almost 5x the value calculated, and I am not feeling  rich.
*
Liquid net worth. Property, cash, stocks, bonds, ut minus all liabilities.

1x means you just got enough to survive. If yours is 5x means you belong to effluent group.
gark
post Apr 6 2013, 09:09 PM

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QUOTE(jerrymax @ Apr 6 2013, 07:37 PM)
ha. what pass pass pass? how to get %, why i calculate many zeroes.
*
Lets say your salary 100k, age 30.

Formula 1 = 100000 x 0.1 x 30 = 300000

If your total net worth is 450k for example, mah 1.5x hence 50%
newbie99
post Apr 6 2013, 09:10 PM

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QUOTE(gark @ Apr 6 2013, 09:02 PM)
Liquid net worth. Property, cash, stocks, bonds, ut minus all liabilities.

1x means you just got enough to survive. If yours is 5x means you belong to effluent group.
*
Not effluent, but maybe super frugal group.
Hevrn
post Apr 7 2013, 12:26 AM

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QUOTE(gark @ Apr 6 2013, 01:09 PM)
Got 6 figure or not...?

To see if you have the required networth for your age use the following formula ...
Thomas J. Stanley's and William D. Danko's expected net worth formulas

    Formula 1: Expected net worth = age x 0.1 x gross income.
    Formula 2: Expected net worth = age x 0.112 x gross income.

Marotta Asset Management's expected net worth formulas

    Formula 3: Expected net worth = (adult years / 240 + 0.1) x adult years x gross income; where "adult years" = age - 20.
    Formula 4: Expected net worth = [(age / 166) - 0.15] x age x gross income.
Gross income is before tax per year.

You all can calculate if you all pass or fail.... wink.gif

Report here.  laugh.gif
*
Formula 1: Failed badly... only been working for nearing 2 years and the amount surpasses my total combined earnings so far sad.gif
Formula 2: Failed again... see above
Formula 3: Passed with flying colors (+100%)
Formula 4: Returns me with negative values. Guess my age is too low to apply this formula.

*not inclusive of EPF

This post has been edited by Hevrn: Apr 7 2013, 12:26 AM
lazybump_nonsense
post Apr 7 2013, 12:26 AM

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I still don't get it how to calculate >.< is it gross income = monthly income x 12?


http://www.hughchou.org/calc/wealth.cgi

This post has been edited by lazybump_nonsense: Apr 7 2013, 12:30 AM
SUSPink Spider
post Apr 7 2013, 12:31 AM

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QUOTE(lazybump_nonsense @ Apr 7 2013, 12:26 AM)
I still don't get it how to calculate >.< is it gross income = monthly income x 12?
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If u got 13 months salary i.e. contractual bonus, take gross salary x 13
lazybump_nonsense
post Apr 7 2013, 12:35 AM

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QUOTE(Pink Spider @ Apr 7 2013, 12:31 AM)
If u got 13 months salary i.e. contractual bonus, take gross salary x 13
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Thanks ! Whoa damn fail :'( damn under standard. Why is it last one I got a negative figure ?
Hevrn
post Apr 7 2013, 12:36 AM

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QUOTE(lazybump_nonsense @ Apr 7 2013, 12:35 AM)
Thanks ! Whoa damn fail :'(  damn under standard. Why is it last one I got a negative figure ?
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Applies for those 25 and above.
lazybump_nonsense
post Apr 7 2013, 12:38 AM

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QUOTE(Hevrn @ Apr 7 2013, 12:36 AM)
Applies for those 25 and above.
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Aww I am 22 and I got a 20k deficit compared expected net worth and actual net worth
SUSPink Spider
post Apr 7 2013, 12:39 AM

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QUOTE(lazybump_nonsense @ Apr 7 2013, 12:38 AM)
Aww I am 22 and I got a 20k deficit compared expected net worth and actual net worth
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22? Just working not long...check again in a few years wink.gif
gark
post Apr 7 2013, 11:14 AM

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This formula not so suitable for prople who just enter employment. But check in often, it is just a challenge to see if you are saving eniugh.for below age 25 use formula 3.
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