Comments on: Net Worth Update – September 2007

By: 99buckets » Net Worth Update - September 2007

99buckets » Net Worth Update - September 2007 — Tue, 13 Nov 2007 22:14:05 +0000

[...] here for full [...]

By: Joseph Ferrara

Joseph Ferrara — Fri, 21 Sep 2007 01:51:28 +0000

Re: Zillow accuracy of your condo

The reason you can say it’s accurate is because you already have a notion of your condo’s worth and zillow merely confirmed it. Now, pick a condo in a place you do not know. Would you trust the zestimate to be accurate that you make an offer based on it? Doubtful. Zillow does not make real estate valuation any easier since you have to independently validate or reject the zestimate.

A home and its envirns must be physically examined to determine those factors which are not incorporated into the public database— the neighbors, the traffic noise, exposures, elevations, etc. These factors are known as “unzillowables” and can drastically affect a home’s value. Zillow does not have a clue they exist.

[Editor's note: This is completely irrelevant to me. However, in areas of many, many similar condos such as mine. I might trust it quite a bit. Things like community, traffic, exposures and elevations are all likely factored into previous sales price which Zillow uses]

By: Pinyo

Pinyo — Thu, 20 Sep 2007 00:45:14 +0000

Congratulation on a positive month. Yes, it’s always nice to see the net worth number goes up.

By: RateLadder

RateLadder — Wed, 19 Sep 2007 13:29:43 +0000

No doubt! Great strides! Keep it up!

By: Matt

Matt — Wed, 19 Sep 2007 12:02:42 +0000

Nice bounce back from last year – its nice to see positive traction even if RateLadder thinks its low. You’re far ahead of many people who are in debt and have a negative net worth.

By: RateLadder

RateLadder — Wed, 19 Sep 2007 04:12:51 +0000

Today’s money is worth more than tomorrow’s.

That is you need more tomorrow than today. If you say I need 2.25MM in 2006 dollars (the first time I saw your goal) then I am on board.

By: MoneyNing

MoneyNing — Wed, 19 Sep 2007 00:48:16 +0000

RateLadder’s comment also implies that you will see a very high projected retirement number if you do the standard contribution + set percentage projection.

Good luck on your net worth! I have a very similar financial situation as you (in the same age group and have similar net worth numbers) so I hope we can both retirement happily in the future!

By: Lazy Man

Lazy Man — Tue, 18 Sep 2007 15:11:56 +0000

My net worth goal is what I’d need now to feel like I could quit my day job and “retire” now. I put retire in quotes, because I don’t know if I’d completely retire. I’d at least continuing this writing which, as of now, brings in some income. More likely, I’d use the time to explore other ways to make money – or drink martinis all day. Let’s go with the later.

By: RateLadder

RateLadder — Tue, 18 Sep 2007 14:25:56 +0000

My 2 cents… At your age and current accomplishments I think you final net worth goal is low.
Myabe more like 10MM with 2MM liquid.