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....

Report here. 

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....

Report here. 

22? Just working not long...check again in a few years

Happy weekend Gark,

    Now only can online after window shopping at paradigm mall.
    I calculate how you got percentage ? (= expected net worth /  actual net worth )
 
  formula 1=  0.64 less than 1 mean i failed ????
  formula 2=  0.57 less than 1 mean i failed ????
    formula 3=  2.2
    formula 4= 1.75

  Am i correct 

I think it means you are average. Somehow I see that formula 3 and 4 very high, not sure why. Btw, when you calculate, do you include your "unknown" bonuses, or just the contractual? Cause it will makes a whole lot of difference if I do so compare if I don't

my networth =  Liquid invesment exp Stock + UT + FD only. Exclude my wife and house.
yes i include my bonus. 

Networth includes assets but minus liabilities.

Example house worth 500k but loan 400k, then networth is 100k. Networth is all fixed assets and liquid assets minus all loans and liabilities.

Formula 1 and 2 is the highest, the bottom 2 is for younger people below age 25.

If you dcore below 1 then means you do not have enough savings and assets and need to add more

I think it means you are average. Somehow I see that formula 3 and 4 very high, not sure why. Btw, when you calculate, do you include your "unknown" bonuses, or just the contractual? Cause it will makes a whole lot of difference if I do so compare if I don't

Age: 28
Occupation: Middle Class tax payer
Marital Status: Not Married but got gf.

Asset(s): house 418k but owe 375k

Car loan: bought 90k owe 50k

Insurance: prudential 300 a month.. dunno got what

Investment:
FD: non
Cash in Bank - RM1K
Cash in Hand - RM200

Eee u need more cash in reserve, what if u lose your job? Then your house and car gone case

At least 6 months of expenses in reserve needed as u got 2 financial commitments

  tHANKS...I indeed not enought .... need to add another rm140k more to reach score 1.
Need to save another 10 year...

i spend 5k a month in everything under the moon

so means i need 30k?

whoa... how to save wor... wait for my bonus to come in

When bonus come in, park it aside for emergencies

due to changing jobs, i have not have a solid bonus for 2 years now

let's see

do you weigh bonus or higher salary on the "more important" scale?

My salary is slightly below market average, but bonus cover balik the shortfall, if that's what u meant

The score required will move up as you age, by the time 10 years come, you will need a much bigger figure.

Have you included your EPF & house value (minus loans) ? If included then you might need to rework your budget a bit...

I am surprised a lot of wealthy people around can score 5x on formula 1 here...

thanks gark,

  If i added up the house and EPF is 1x.

the house is my wife and me - so i wont include, sell already no house; got money cant buy with current price. I prefer use liquide asset onli.
EPF i also exlcude, becoz i maybe die before can enjoy the money.