Comments on: The Dangers of Comparsion http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2177 Canadian Dream Mon, 17 Dec 2007 02:58:51 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2177 Jim, I'm not insulted in the slightest. You are completely right that most of my net worth is tied to my house. Yet, I chose to structure my finances this way. I could have easily put a smaller down payment on this house and bought stocks with the difference. I chose instead to put down $40,000. That was what I was getting at. Everyone has his or her own priorities and goals. I dislike debt and know the local real estate market. So for me the decision was obvious. Besides, I'm not putting out advice to anyone. This blog is about sharing ideas and discussing things. I certainly don't pretend to know it all or tell anyone that there is only one way to build your net worth. By the way, your comment did come across as harsh at the end. I appreciate your feedback, but I could do without the comments sounding like an attack. So in the future please try to keep it a tad bit more civil. Thanks. Tim Jim,

I’m not insulted in the slightest. You are completely right that most of my net worth is tied to my house.

Yet, I chose to structure my finances this way. I could have easily put a smaller down payment on this house and bought stocks with the difference. I chose instead to put down $40,000.

That was what I was getting at. Everyone has his or her own priorities and goals. I dislike debt and know the local real estate market. So for me the decision was obvious.

Besides, I’m not putting out advice to anyone. This blog is about sharing ideas and discussing things. I certainly don’t pretend to know it all or tell anyone that there is only one way to build your net worth.

By the way, your comment did come across as harsh at the end. I appreciate your feedback, but I could do without the comments sounding like an attack. So in the future please try to keep it a tad bit more civil. Thanks.

Tim

]]> By: Jim http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2175 Jim Mon, 17 Dec 2007 01:36:18 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2175 " So if I compare it to someone else who have more in stock and cash does it mean I’m worse off then they are? No, the fact is it doesn’t mean anything at all." Actually it does mean SOMETHING. Obviously you're 'hurt' about this comparison and not thinking rationally. Rationally, house net worth is NOT comparable to Stocks net worth. Not even CLOSE. Stocks you can liquidate tomorrow. How about a house? And where will you live? What about all the money/expense that are put into a house (daily almost?). Counting houses in net worth is just not smart unless you have a second/rental property. Also, people should be leery taking advice from people that aren't, in actuality doing that well off themselves. Not counting your house net worth, how much are you worth and your advice? Sorry to be harsh. ” So if I compare it to someone else who have more in stock and cash does it mean I’m worse off then they are? No, the fact is it doesn’t mean anything at all.”

Actually it does mean SOMETHING. Obviously you’re ‘hurt’ about this comparison and not thinking rationally.

Rationally, house net worth is NOT comparable to Stocks net worth.

Not even CLOSE. Stocks you can liquidate tomorrow. How about a house? And where will you live? What about all the money/expense that are put into a house (daily almost?).

Counting houses in net worth is just not smart unless you have a second/rental property.

Also, people should be leery taking advice from people that aren’t, in actuality doing that well off themselves. Not counting your house net worth, how much are you worth and your advice? Sorry to be harsh.

]]> By: Tall Poppy Syndrome http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2168 Tall Poppy Syndrome Sun, 16 Dec 2007 06:46:30 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2168 [...] Poppy Syndrome again rushed to front of mind. Especially when I was reading through comments that others had about this controversial post. Should I list my net worth? Why would I be doing it? To compare [...] [...] Poppy Syndrome again rushed to front of mind. Especially when I was reading through comments that others had about this controversial post. Should I list my net worth? Why would I be doing it? To compare [...]

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2154 Canadian Dream Fri, 14 Dec 2007 12:54:21 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2154 Nobeela, I'm not saying you shouldn't compare yourself. I'm just warning people this can be a dangerous game to play with your emotions. CC, It's an interesting question. Who does really care or not? I personally post it for my own reference and goal setting. I've just never thought to ask if anyone cares to see it at all. MG, You are right on average most people reading these types of blogs have their stuff together. So if they aren't beating the average they will be at some point. Gary, Excellent point. We should never forget to live now just for the sake of a number. Thanks everyone, Tim Nobeela,

I’m not saying you shouldn’t compare yourself. I’m just warning people this can be a dangerous game to play with your emotions.

CC,

It’s an interesting question. Who does really care or not? I personally post it for my own reference and goal setting. I’ve just never thought to ask if anyone cares to see it at all.

MG,

You are right on average most people reading these types of blogs have their stuff together. So if they aren’t beating the average they will be at some point.

Gary,

Excellent point. We should never forget to live now just for the sake of a number.

Thanks everyone,
Tim

]]> By: This and That http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2153 This and That Fri, 14 Dec 2007 12:37:45 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2153 [...] Dream pointed out the dangers of comparing net worth in response to a post by Million Dollar Journey. I’m curious if readers really care to know a [...] [...] Dream pointed out the dangers of comparing net worth in response to a post by Million Dollar Journey. I’m curious if readers really care to know a [...]

]]> By: Gary http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2148 Gary Fri, 14 Dec 2007 00:48:38 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2148 The totals sure look impressive. Lets wait see these totals in 5 or 10 years. Lots of things take place in the path of life. Remember you only have one life to live. Live it to its fullest. Missing out on life today is just another lost day. The totals sure look impressive. Lets wait see these totals in 5 or 10 years. Lots of things take place in the path of life. Remember you only have one life to live. Live it to its fullest. Missing out on life today is just another lost day.

]]> By: moneygardener http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2147 moneygardener Thu, 13 Dec 2007 23:52:00 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2147 I love comparing net worth with other people, and I believe it means a lot. There is not better way to measure your financial well-being. A little competitive spirit is not a bad thing, most of us are probably doing great compared with the general population just becuase we are willing to discuss and learn from eachother on these matters. I love comparing net worth with other people, and I believe it means a lot. There is not better way to measure your financial well-being.

A little competitive spirit is not a bad thing, most of us are probably doing great compared with the general population just becuase we are willing to discuss and learn from eachother on these matters.

]]> By: Effect Of Compounding? « Unequivocal Notes http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2146 Effect Of Compounding? « Unequivocal Notes Thu, 13 Dec 2007 21:22:43 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2146 [...] Canadian Dream at Canadian Dream: Free at 45 feels comparing networths could be a danger, I liked doing this. It makes me believe it is possible [...] [...] Canadian Dream at Canadian Dream: Free at 45 feels comparing networths could be a danger, I liked doing this. It makes me believe it is possible [...]

]]> By: nobleea http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2144 nobleea Thu, 13 Dec 2007 18:32:58 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2144 The PF blog net worth updates are interesting, more in how they calculate it that what the actual number is. But knowing net worths, etc for your age group is very important, I think. These are the people who are going to retire at the same time as you. They'll be trying to buy the same retirement houses as you on a golf course or a lake (or wherever). It's all well and good to say you shouldn't compare yourself to others, but they are the competition. Who wants to have their retirement dreams compromised since they were consistently below average for net worth and savings/investments and now the competition has bid up the areas they wanted to retire? Maybe this sounds too competitive, but most people are petrified of discussing things like this. Comparing yourself to averages for the entire population/age group/etc are valid and necessary, I believe. The PF blog net worth updates are interesting, more in how they calculate it that what the actual number is.

But knowing net worths, etc for your age group is very important, I think. These are the people who are going to retire at the same time as you. They’ll be trying to buy the same retirement houses as you on a golf course or a lake (or wherever). It’s all well and good to say you shouldn’t compare yourself to others, but they are the competition. Who wants to have their retirement dreams compromised since they were consistently below average for net worth and savings/investments and now the competition has bid up the areas they wanted to retire?

Maybe this sounds too competitive, but most people are petrified of discussing things like this. Comparing yourself to averages for the entire population/age group/etc are valid and necessary, I believe.

]]> By: Warren http://blog.canadian-dream-free-at-45.com/2007/12/13/the-dangers-of-comparsion/comment-page-1/#comment-2141 Warren Thu, 13 Dec 2007 16:11:56 +0000 http://blog.canadian-dream-free-at-45.com/?p=301#comment-2141 As a reader I find it a fascinating insight, but only when coupled with the rest of the information that goes into a PF blog, like your financial goals, methods of getting there, etc. As a reader I find it a fascinating insight, but only when coupled with the rest of the information that goes into a PF blog, like your financial goals, methods of getting there, etc.

]]>