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Personal Finance Topics / Living Below Your Means
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Author: rayvt 🐝  😊 😞
Number: of 64 
Subject: Re: OT-top 1% Net Worth
Date: 06/09/2024 8:24 AM
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What difference does it make? Who cares? It's just a d1ck measuring contest.

I thought the same thing in 2015 when Trump was running for President. "My net worth is $10B." "That liar, he can't be worth more than $6B."

Early on when we were buying a house, the mortgage broker told me to include the value of our cars and "household items" (like clothes, books, etc.) in the net worth section of the mortgage application. She said, "Surely all that is easily worth $50,000. You do want to get approved, don't you?"
(Years later on another mortgage application, the underwriter noted "He has more money in his 401K than this loan amount. Approved.")

Quibbling about house in net worth is mostly like two bums fighting over a cigarette butt. Even if you won, it doesn't make a difference.
It's just a feel-good moment to put a large number on paper.

Once your real, concrete net worth is over a certain amount, the value of your house, your car(s), your clothes, etc. are immaterial.

Now, about the number of angels that can dance on the head of a pin..............

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