Net worth of PTers

[Monid]

Hi Guys was browsing on Somersoft and found an interesting poll of the net worth of their members. Thought it made an interesting topic to do a poll on so I thought I would borrow the idea.

So the poll is on your total net worth that is the rough value of all your assets (Property & Non-Property) - all your liabilities (Property & Non-Property) I'm doing this on an economic unit basis so if you are an individual or a couple that is fine don't worry about differentiating it.

I'm curious to see how we measure up compared to the average Kiwi although I couldn't find any better info on this than this 2001 document: Net Worth of New Zealanders

Which is obviously somewhat out of date.

The poll is anonymous of course since some don't like publicly sharing that sort of info. On that note I'll do the poll myself later... Otherwise it is obvious as the only one who has voted what our net worth is.

Cheers
David

[Dean@Massiveaction]

Given that this forum's sample will be somewhat biased due to the value of property, are you not a bit conservative with the numbers Monid?? Or does that not matter??

[Jumpin]

What about trusts Monid - I don't personally own my family home or some other properties. So net worth is somewhat misleading.

[xris]

I see now the use of commas when writing large numbers.

xris

[cube]

What about trusts Monid - I don't personally own my family home or some other properties. So net worth is somewhat misleading.

Just assume that no creditors are watching, and vote for what you consider your net worth to be!

[Monid]

Given that this forum's sample will be somewhat biased due to the value of property, are you not a bit conservative with the numbers Monid?? Or does that not matter??

I possibly was looking at the results thus far. I was basing it on the Somersoft poll, where they had too much specificity at the top end and not enough at the bottom end. But it looks like I should have made a few of those categories larger, and added at least one more top end category. Humbug.

Cube's approach seems right in regards to trusts.

Cheers
David

[cube]

I calculate the total net worth of those participating at around $75,000,000 (crediting $2M to all those in the '$2M+' category, to keep the numbers conservative.)

[whitt]

I calculate the total net worth of those participating at around $75,000,000 (crediting $2M to all those in the '$2M+' category, to keep the numbers conservative.)

Making the average Pt voter on this thread a millionaire
75Mill / 71 voters.

or

33 voters / 71 total votes
46% of voter in this thread have equity over 1 mill.


Pretty much a meaningless stat.

[Monid]

Well part of the point was to rebut Ron's ridiculous claim that there are no big investors left here any more... 33 of us with over a million in net worth I think there may still be one or two big investors kicking around even if they don't publicly identify themselves as such. It also provides some way of judging certain promotions such as the hype about a certain seven/ten million dollar man, remembering the much vaunted 10 million dollar man had from memory about 3-4 million equity.

Cheers
David Hunter

[Jumpin]

Hi Monid

It does depend how you define 'big investor'. We have equity over a million. sure, (and a million in bank loans), but I sure dont count myself as a big investor, when 3 average houses = 1 mil. Long way to go yet before I count myself as a big fish.

[Monid]

I agree somewhat Jumpin, although I should point out that the average net worth of an NZ couple at retirement is around the $350000 mark (Or at least it was for the last stat I found which may not have been recent). So PTers aren't doing too bad, 'big investors' or not.

In terms of big investor status well of course there is always bigger... But having over a million net worth still strikes me as at least moderately large.

Cheers
David

[sarahd]

The latest statistic I heard is that the average NZers retire with a debt free home and $33,000 in the bank. This is simiilar to your stat Monid of net worth of $350,000.

S

[Jumpin]

Hi Monid,
I guess I judge my net worth in terms of knowledge and ability. If I had 10 mil and still didnt know how to spot a deal I would regard myself as poor. (ish) :-)

[RonHoyFong]

Well part of the point was to rebut Ron's ridiculous claim that there are no big investors left here any more... 33 of us with over a million in net worth I think there may still be one or two big investors kicking around even if they don't publicly identify themselves as such. It also provides some way of judging certain promotions such as the hype about a certain seven/ten million dollar man, remembering the much vaunted 10 million dollar man had from memory about 3-4 million equity.

Cheers
David Hunter

The vaunted 10 million dollar man now has 14 million

Hi Monid

It does depend how you define 'big investor'. We have equity over a million. sure, (and a million in bank loans), but I sure dont count myself as a big investor, when 3 average houses = 1 mil. Long way to go yet before I count myself as a big fish.

David (Quote): "I think there may still be one or two big investors kicking around"

I agree with you on this that there is one or two

Only 1% of New Zealanders have 5 or more properties.

Only 5% of New Zealanders have 2 or more properties.

Therefore from an investors prospective if 100% of property investors have 2 or more properties then I would have to say that 20% of property investors would have 5 or more properties.

Your terms of what is a big investor ($2,000,000) is therefore too small.

The poll above is does not go far enough. I suggest the categories should be extended to say $5m + if you are trying to establish how many big fish there are.

[donna]

The poll above is does not go far enough. I suggest the categories should be extended to say $5m + if you are trying to establish how many big fish there are

Great idea - only I think a new poll will need to be commenced for the 'super investors'. We will sticky it too.....so hopefully over time we can all tick the big $$ box .

Cheers,

Donna