Net worth £3,000,000 at 50?
What is your goal net worth?
Net worth is total of all your assets minus any liabilities you have.
Assets include property, shares, cash, car, jewellery etc.
Liabilities include mortgage, loans, debts.
My goal is £250,000 by 30.
£1,000,000 by 40
£3,000,000 by 50.
Retire at 50.
Note: Inflation will erode your target. If you are aged 20 now, and have a target of £1,000,000 by aged 40. Assuming inflation at 3% a year. £1,000,000 in 2039 will be worth £543,794.34. To be able to buy what £1,000,000 can buy you today, in 2039, you will need £1,806,111.24.
Net worth is total of all your assets minus any liabilities you have.
Assets include property, shares, cash, car, jewellery etc.
Liabilities include mortgage, loans, debts.
My goal is £250,000 by 30.
£1,000,000 by 40
£3,000,000 by 50.
Retire at 50.
Note: Inflation will erode your target. If you are aged 20 now, and have a target of £1,000,000 by aged 40. Assuming inflation at 3% a year. £1,000,000 in 2039 will be worth £543,794.34. To be able to buy what £1,000,000 can buy you today, in 2039, you will need £1,806,111.24.
Original post by 8472
To be rich emotionally 
But only comfortable financially, however much that is.
But only comfortable financially, however much that is.How much money do you need to live comfortably, do you think?
And is that an amount you have as a lump sum, to retire on? E.g. withdraw 4% a year to live on.
Original post by mattymoo432
What is your goal net worth?
Net worth is total of all your assets minus any liabilities you have.
Assets include property, shares, cash, car, jewellery etc.
Liabilities include mortgage, loans, debts.
My goal is £250,000 by 30.
£1,000,000 by 40
£3,000,000 by 50.
Retire at 50.
Note: Inflation will erode your target. If you are aged 20 now, and have a target of £1,000,000 by aged 40. Assuming inflation at 3% a year. £1,000,000 in 2039 will be worth £543,794.34. To be able to buy what £1,000,000 can buy you today, in 2039, you will need £1,806,111.24.
Net worth is total of all your assets minus any liabilities you have.
Assets include property, shares, cash, car, jewellery etc.
Liabilities include mortgage, loans, debts.
My goal is £250,000 by 30.
£1,000,000 by 40
£3,000,000 by 50.
Retire at 50.
Note: Inflation will erode your target. If you are aged 20 now, and have a target of £1,000,000 by aged 40. Assuming inflation at 3% a year. £1,000,000 in 2039 will be worth £543,794.34. To be able to buy what £1,000,000 can buy you today, in 2039, you will need £1,806,111.24.
Silly question but would net worth include things like laptop, phone, expensive clothes etc? Also if I have a house on mortgage would this count?
Original post by dylantombides
Silly question but would net worth include things like laptop, phone, expensive clothes etc? Also if I have a house on mortgage would this count?
You could include your phone, clothes etc in net worth calculation.
The mortgage is a liability so would be deducted along with any other loans you have.
Original post by mattymoo432
You could include your phone, clothes etc in net worth calculation.
The mortgage is a liability so would be deducted along with any other loans you have.
The mortgage is a liability so would be deducted along with any other loans you have.
Crikey. I've got £40k of student debt, £23k saved and hopefully a £150k house soon. So soon I'm going to have a net worth of about -£170k!!
Original post by dylantombides
Crikey. I've got £40k of student debt, £23k saved and hopefully a £150k house soon. So soon I'm going to have a net worth of about -£170k!!
If you’re in the U.K. on repayment plan 2, it’s NOT a debt just a graduate tax. So you don’t need to take subtract student loans from your net worth, as it will not be deducted from your estate when you die
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