Author Topic: Mustachians: what's your net worth as a percentage of total earnings?  (Read 2473 times)

ender

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I've been reading Your Money or Your Life and one of the things it suggests you do is find your total lifetime earnings. Using the Social Security website (which is actually really user friendly, shockingly) you can create an account and see your lifetime social security eligible earnings. This will not be 100% your lifetime salary but is a good representation for most of us who primarily have social security eligible earnings.

I'm not sure how easy this information is to obtain outside the USA but here is the SS website - https://secure.ssa.gov/mySSA/start

It's a different way to look at lifetime savings rates.

You can copy the lifetime earnings table to excel and add it up pretty quickly. This lets you do a quick and easy comparison vs your current net worth. I suspect mustachians who start early in their career will have net worths eclipse SS eligible total earnings at some point in their lifetimes, especially because things like HSA's or company matches will not count towards this number. Which strikes me as a pretty cool thing to shoot for. I'm not close yet, especially if I add in several years worth of non-FICA graduate student stipends.

Has anyone else done this before? I don't think I've ever seen a discussion here like this.

renaite

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Re: Mustachians: what's your net worth as a percentage of total earnings?
« Reply #1 on: April 19, 2014, 10:55:32 AM »
I got my numbers from SSA and did the calculation when I read The Millionaire Next Door a few months ago. The result was... sobering. Include all the "off the books" work and holy moly what an exploding volcano of waste. But if I graphed it out over time, it would be a lovely visual since finding this site. :-D


arebelspy

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Re: Mustachians: what's your net worth as a percentage of total earnings?
« Reply #3 on: April 19, 2014, 06:05:09 PM »
Related http://forum.mrmoneymustache.com/welcome-to-the-forum/social-security-earnings-vs-net-worth/

MODERATOR NOTE: Go to that thread to discuss.

Locking this - duplicate - thread.  Cheers!
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