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[-] omega_x3@lemmy.world 58 points 1 year ago

They don't have any debt? I'm still 5 or 6 years from $0 if I don't get sick or have to replace a car.

[-] June@lemm.ee 14 points 1 year ago

I’m at least 30 years from $0 lol.

It’s funny how my net worth was higher when I was renting than it is now that I’m a homeowner that bought 18 months ago.

[-] Rodeo@lemmy.ca 19 points 1 year ago

Yeah but now you have a concrete asset on which you're gaining equity.

Before you were getting nothing for all that money you spent on rent. Now you're getting equity for it.

[-] June@lemm.ee 5 points 1 year ago

I know this will likely change as time goes on, but so far I’ve lost value and I’m under water by about 10% according to what I can suss out of the market value. And, my mortgage is 2.5x what I could be paying in rent most anywhere else in the region, which is its own stressor yannow. Everything is just a bit wonky right now.

[-] Agent641@lemmy.world 6 points 1 year ago

I have no debts, 10k in savings, and I live in a van 🙃

[-] June@lemm.ee 2 points 1 year ago

You have a higher net worth than most millionaires!

[-] Rodeo@lemmy.ca 2 points 1 year ago

Another great episode of Why Next Worth is a Terrible Indicator of Wealth!

[-] Smokeydope@lemmy.world 2 points 1 year ago

If you aren't joking then unironically congrats on your relative financial success!

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this post was submitted on 04 Oct 2023
1285 points (99.2% liked)

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