My investment performance in 2016

Doshwaster

veryintrigued wrote: »

I wonder if others have a similar view of the worth word

I have no problem with the use of the word "worth" in this context. Something is only worth what someone else is willing to pay for it.

cashbackproblems

bowlhead99 wrote: »

!!!!!!.

You are age 33 so potentially have 30+ years of being physically and mentally capable of high paid work ahead of you, and located in the city that pays the highest salaries in the country.

Only 15 years into adulthood, you already have net wealth in excess of 95% of UK households and 99% of global households, even though you are a single person so the wealth belongs to you alone, rather than being achieved with two incomes or needing to be split across multiple sets of expenses.

Your house at £600k is valued 25% higher than the average London property. And again, you are single rather than being the average household that needs an average property. With the £340k of equity in that house, you could sell your home, buy the average house in England outright for cash, and still have almost a third of the equity left over to do something else with. Let alone your other liquid assets which represent over a third of a million quid, which you could compare to median disposable household income of under £30k a year.

You are wondering if anyone has any bright ideas what you should do with your over £150k of cash that's sitting in the bank doing nothing alongside your other savings and investments. That dormant, idle, unused amount is well over 30x the amount of savings that the average UK family has. Oh, and per post #2, your parents will be gifting you some more money.

So, when you tell us all about your high level of net wealth and the fact that you are going to be getting some more cash gifts from your parents, with numbers that are well off the top end of the charts for the vast majority of people in the UK, and then innocently ask "am I doing OK?", it means one of three things.

Either you are hilariously naive and know very little about the real world and are not really worth engaging in grown-up discussion.

Or you know perfectly well that you have massively more wealth than the average UK household, and are the type of person that wants to brag about it online to feel superior to others and try to make them envious.

Or you are making it up and simply trolling for reaction.

Either way, you've gone down in my estimation. I guess 'wealth' isn't all about the numbers.

haha just what i was thinking he sounds like an idiot :rotfl:

cashbackproblems

also when you include your property value in your net worth, unless you are going to downsize or move to a cheaper area of the country, you never really have that much money. Its lost until you sell or pass on upon death.

bowlhead99

veryintrigued wrote: »

Interesting that lots of you use the phrase 'house worth xxxxxx'.

Our house has a market value four times what we paid - but in our eyes isn't worth a fraction of that!

If you truly believed your house was only 'worth' a fraction of what people are willing to pay for it, you would sell it to them, and then you would take that large sum of money and spend it (or perhaps just a small fraction of it) on buying a new property where you paid what that other property was worth. Or instead rent, or live on the streets with a fat pile of cash in the bank.

- The fact that you do not sell up is evidence that owning that house *is* worth, to you, the amount of money you could have instead of having the house. You would prefer to have that property than the £'000s of cash that would be happy to give you for it.

- And the fact that the house has that high market value is an indication that other people would rather have your house than all that cash too.

So - quite objectively - the house is 'worth' what it is valued at in the current market.

That might be a lot more than what it would cost you to build it again if it fell down, but that's just because owning a solid and stable well-insulated structure, decorated and crammed with fixtures and fittings, utility services and other conveniences, in a reasonable residential area, that functions as a home, is 'worth' a heck of a lot more than a pile of bricks.

veryintrigued

bowlhead99 wrote: »

If you truly believed your house was only 'worth' a fraction of what people are willing to pay for it, you would sell it to them, and then you would take that large sum of money and spend it (or perhaps just a small fraction of it) on buying a new property where you paid what that other property was worth. Or instead rent, or live on the streets with a fat pile of cash in the bank.

- The fact that you do not sell up is evidence that owning that house *is* worth, to you, the amount of money you could have instead of having the house. You would prefer to have that property than the £'000s of cash that would be happy to give you for it.

- And the fact that the house has that high market value is an indication that other people would rather have your house than all that cash too.

So - quite objectively - the house is 'worth' what it is valued at in the current market.

That might be a lot more than what it would cost you to build it again if it fell down, but that's just because owning a solid and stable well-insulated structure, decorated and crammed with fixtures and fittings, utility services and other conveniences, in a reasonable residential area, that functions as a home, is 'worth' a heck of a lot more than a pile of bricks.

I'll always struggle to use the word worth when used in the context of what I perceive are any over inflated material goods.

The increase in house prices over the past 20 years is eye watering.

Maybe Lord Darlington knew better.

Doshwaster

veryintrigued wrote: »

I'll always struggle to use the word worth when used in the context of what I perceive are any over inflated material goods.

If you sold your house would your asking price be what you thought it was "worth" or what the market value was?

BucksLady

economic wrote: »

forgot to add my networth is around £788k. closing in on £800k fast! at age 33 living in london am i doing ok?

You jolly well know you are, so why ask?

I wonder if anyone else using this forum finds it strange that anyone would even contemplate stating their age, earnings, total wealth etc...
Anyway, I find it bizarre .... Just my opinion of course

economic

bowlhead99 wrote: »

!!!!!!.

You are age 33 so potentially have 30+ years of being physically and mentally capable of high paid work ahead of you, and located in the city that pays the highest salaries in the country.

Only 15 years into adulthood, you already have net wealth in excess of 95% of UK households and 99% of global households, even though you are a single person so the wealth belongs to you alone, rather than being achieved with two incomes or needing to be split across multiple sets of expenses.

Your house at £600k is valued 25% higher than the average London property. And again, you are single rather than being the average household that needs an average property. With the £340k of equity in that house, you could sell your home, buy the average house in England outright for cash, and still have almost a third of the equity left over to do something else with. Let alone your other liquid assets which represent over a third of a million quid, which you could compare to median disposable household income of under £30k a year.

You are wondering if anyone has any bright ideas what you should do with your over £150k of cash that's sitting in the bank doing nothing alongside your other savings and investments. That dormant, idle, unused amount is well over 30x the amount of savings that the average UK family has. Oh, and per post #2, your parents will be gifting you some more money.

So, when you tell us all about your high level of net wealth and the fact that you are going to be getting some more cash gifts from your parents, with numbers that are well off the top end of the charts for the vast majority of people in the UK, and then innocently ask "am I doing OK?", it means one of three things.

Either you are hilariously naive and know very little about the real world and are not really worth engaging in grown-up discussion.

Or you know perfectly well that you have massively more wealth than the average UK household, and are the type of person that wants to brag about it online to feel superior to others and try to make them envious.

Or you are making it up and simply trolling for reaction.

Either way, you've gone down in my estimation. I guess 'wealth' isn't all about the numbers.

thanks for your reply and very sorry for the confusion. i was genuinely trying to find out others opinions whether i can retire early based on what i have, i should have made it clearer in my post and not sound so stupid and arrogant like it seems like i have. it was my mistake and i should have been more clearer. apologies.

ColdIron

BucksLady wrote: »

I wonder if anyone else using this forum finds it strange that anyone would even contemplate stating their age, earnings, total wealth etc...
Anyway, I find it bizarre .... Just my opinion of course

Happens quite frequently, usually around school holidays

george4064

BucksLady wrote: »

You jolly well know you are, so why ask?

I wonder if anyone else using this forum finds it strange that anyone would even contemplate stating their age, earnings, total wealth etc...
Anyway, I find it bizarre .... Just my opinion of course

Totally agree with you. :T