You are an average accumulator of wealth

Ouch. That makes me sounds so…average. The New York Times real wealth calculator, based on the book “The Millionaires Next Door,” which posits that net worth alone is not the best indicator of wealth but how much worth you can accumulate on your income considering your own age.

I plug in the details:

Age: 35
Total annual household income: $56,000
Total net worth: $133,000

The calculator says that based on my age and income, my worth should be $196,000, so I’m short by $63,000. My excuse: we’re a one-income family at the moment, and I’ve living and working in a Third World country. What’s yours?

dear Mr. Moneyologist,

It is more than wonderful to find a person with similar interest and paradigm on wealth. I do love “multiple income stream” (read the book) too and other books around that interest.
Well, I read 1-2 books a week on wealth and personal building. Not bad.

I did the calculator as well:
Age: 33
Total annual household income: $60,000 (after tax)
Total net worth: $175,000
Not too far with yours…
Although I put the house I live in, the net worth is still around US$ 285,000. Can’t put me higher than “average”.

I live in Indonesia.
Although the above figures can do me…well…proud, I do have my lucks (Mainly from parental and divine assistance hahaha). So can’t say I am a self-made Rupiah billionaire.

Drop me an email.
Would love to make friend from Philippines, especially a net-worthed friend

Regards,
Bima

About

We think about money all the time, whether we admit or not. After all, we can’t function without money. I have to say I do think about money a lot. I think about how to make more, how to keep more, and how to spend some.

Many of the goals we set in life are tied to money: retirement, vacations, a house, a brand new car, education, even changing the world. So thinking about money isn’t something to be guilty about. I think it’s even particularly good especially if we’re thinking about it in terms of providing for our family and doing something good for others.

Money-ology is about my insights and experiences about money, touching on work, career, business, and personal finance. It’s also about my chronicles of my own journey towards financial independence. By that I mean reaching the point where I don’t need to work (even if I choose to) to sustain my lifestyle and achieve my goals. To put a number to it, I’ve set this target to US$1 million. By when and how, you’ll discover in one of my entries.

I figure that since I think about money a lot, I might as well put my thoughts in writing, and see years from now how far I’ve gone. Learn with me as I go through this journey. Tag along for the ride!

Money-ology

You are an average accumulator of wealth

About this entry

1 Comment

Have your say

About

Recently

Categories