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Curious, net worth calculation.

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  • Anesthesia84
    replied
    We calculate together but have been together since we were in our early 20s and there is no separation of finances so I would have no idea how to even start calculating separate net worths. Well, except our student loans which are only in one name....

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  • Wiscoblue
    replied
    Double income, one kid. Wife works. Kid is an MD. Net worth as family unit. Everything eventually goes to the kid via trust.

     

     

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  • Aoulis
    replied
    Together. Moved from DINK to DIQK with one pregnancy. Q stands for quads.

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  • wideopenspaces
    replied
    We've been married since we were babies . . . 22. So everything has always been joint. I work part time, husband works full time.

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  • Kamban
    replied
    My net worth is my wife's net worth too.

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  • PhysicianOnFIRE
    replied


    We have gone from DINK (Dual Income No Kids) to DIOK (Dual Income One Kid) to SIMK (Single Income Multiple Kids)
    Click to expand...


    My family is totally SICK (Single Income, Couple Kids)

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  • ITEngineer
    replied
    Marriage. The original partnership. We started out at -$45k net worth when we were married many years ago (sorry, Not a Dr....) We have gone from DINK (Dual Income No Kids) to DIOK (Dual Income One Kid) to SIMK (Single Income Multiple Kids)

    We (or should I say "I" as my wife doesn't care) calculate it as one number. And I do it monthly.

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  • jfoxcpacfp
    replied
    For financial planning purposes, we calculate the household net worth unless there is a need to do otherwise, such as one spouse qualifying for a loan/refinancing. If there is a pre-nup in place, especially if the couple resides or has resided in a CP (community property) state, calculating per person may be desirable in some situations.

    Put me in the Brewster's Millions awareness camp   .

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  • StarTrekDoc
    replied
    Lol. Anyone knowing the brewters millions reference really puts a date in us ?

    Right next to trading places. Loved the use of the stamp.

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  • VagabondMD
    replied
    Together.

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  • Peter @ Curbside
    replied
    We calculate our net worth together as a physician couple. I work full-time, my wife works .3. We have both joint and separate bank accounts (for guilt free spending on the little stuff). We do all our taxes together and make all of our financial plans (budgeting, retirement, etc.) together. So it makes sense to just consider us one unit.

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  • Dr. Mom
    replied
    Together.

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  • RogueDadMD
    replied


    For some people $1M would last them a lifetime while others would blow through that faster than Richard Pryor in Brewster’s Millions.
    Click to expand...


    This reference alone makes up for any disagreement we've ever had.

    One of my all-time favorite movies.

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  • Hatton
    replied
    When I talk about my net worth I do not include my husbands assets.  We married late in life so I just use mine.

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  • ENT Doc
    replied
    One should (IMO) calculate this as a single number, regardless of if you're single or a couple.  Comparing the two on a per person basis is comparing apples to oranges and will depend on the purchasing power that it provides those different individuals.  For some people $1M would last them a lifetime while others would blow through that faster than Richard Pryor in Brewster's Millions.  Also, since couples have shared resources, the marginal effect of adding one person to the equation has a lesser impact on spending, thus making the couple net worth extend further.  So it makes little sense to understand what the net worth is doing on a per person basis.  And since it makes little sense to compare your net worth to others, just focus on what your combined net worth does for you both on a combined basis, since that unit is who the money is working for.

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