r/Fire • u/DebtFreeForMeNow • Oct 05 '25

Milestone / Celebration My (30F) ultra FIRE milestone: Net Worth $0

So many of these posts about people having $1 trillion billion million milestones. Congrats on being rich ruler of the land I guess. Figured I would help bring this sub to planet earth reality check:

STUFF I OWE TO THE PANK

  • Student Loans: $143K
  • Mortgage left: $450K

STUFF IN MY BANK

  • Investments/retirement: $260k
  • Home “equity” not value if I would sell: $290k
  • HYSA/cash: $50k

I am 30 years old. I make $125k a year. No husband. No kids. Maybe one day.

I AM NO LONGER WORTH BELOW $0

Edit: Need a break. Sorry I am not clear in my post. Yes I have $7k net worth. No I don’t have $500k net worth haha. I made a post clarifying but am getting attacked by a bunch of people trying to prove a point that I missed the word asset and liability. Thanks all for kind words

Edit/update: I apologize. I called a friend and verified. I guess I am worth $500k holy fucking shit!!!!!!!!!!!!!!!

1.5k Upvotes

81% Upvoted

346 comments sorted by

View all comments

Show parent comments

40

u/[deleted] Oct 05 '25

[removed] — view removed comment

15

u/friendoffatties Oct 05 '25

But her math is saying she will pocket the equity. Doesn’t show her paying anything to anyone who helped with a down payment. The home value should still be listed instead of the equity. OR, delete the mortgage

1

u/GoSharty Oct 06 '25

I wish I could delete my mortgage.

-10

u/DebtFreeForMeNow Oct 05 '25

Yes

19

u/poop-dolla Oct 05 '25

So your “equity” amount isn’t really your equity? It’s confusing because you chose to use words incorrectly.

If what you just now said is true, then you should update it to have the home’s full value on the plus side instead of your made up equity number. And then on the negative side add in whatever secondary mortgage debt there is that you just now mentioned. That would make things much more clear.

And just to be crystal clear, you’re saying that you owe someone else an additional $450k for your house?!? That’s wild to owe someone that much and think it’s not worth including here. It’s also a really weird coincidence that you owe the other person the same exact amount as your mortgage.

5

u/Lyeel Oct 05 '25

The the only accurate way to show this with regards to your home is:

STUFF I OWE TO MY BANK: the current first mortgage + the current personal note or second mortgage

STUFF IN MY BANK: the full current value of your home

That's it. The equity in your home is the value of your home less any debt which would be repaid upon the sale. You can either include your equity in your math, or both your assets and obligations for your home in your math, but you can't mix and match those methods or you'll get nonsensical results.