smart spending

Feb. 2011: Net Worth

Q:

Compared to 12 months ago, is your net worth:

Higher net worth	There's a major gender difference: 27 percent of men vs. 20 percent of women.
About the same	People over 65 were most likely to say this.
The number of people who feel their net worth has risen fell by 3 percent from January, to 23 percent.

Meg Green

"Maybe you shouldn't have borrowed the money ..."

When thinking about net worth, people are going to consider their employment and the security of their employment and how much money they have in the bank. It's also a question of whether they were living on their own steam or on the steam of borrowed money. Maybe you shouldn't have borrowed the money in the first place. You can't regurgitate your expensive dinners, your trips and your watches. Maybe the watch will be worth what you paid but your car certainly isn't, nor is your boat. There is this attitude of, "I'm entitled." No, you're not.

- Meg Green, CFP, Miami Beach, Fla.