Knowing people's net worth

[greentea]

So, I came across this comic the other day:



What do you think would happen if everyone had to display their net worth? Do you think this would change the way that society functions? What would be the biggest changes? Do you think this would be a good thing or a bad thing?

[J.Apple902]

It would certainly make people realize that all money is actually debt. We have a debt based financial system, where is fact over 95% of all digital currency is actually debt.

[funlol]

It's like that Donald Trump story when he walked past a beggar in the street and told his daughter "that man is worth more than me right now"

[bjl584]

It's funny that the homeless guy is actually the "richest" of all of the people in the comic strip.

If everyone had to do this it may change the way some people spend money. But, there are always those people that just don't care. As long as they can make the monthly payment everything is ok right?

[Joan.of.the.Arch]

In that cartoon world, the beggar might find a way to accept credit & debit card donations.

I would not like to walk around labelled with my net worth.

*Ding-dong*
Yes?
Ma'am would you like to buy a subscription to help put me through college?
No.
But ma'am! You could easily buy a thousand subscriptions! Have a heart!
*slam*
*Ding-dong, ding-dong, ding-dong* *Knock-knock* Open the door! I know you've got money in there. *Ding-dong*, *knock-thud-thud-thud* Open the door, you f'n cheapo!

[J.Apple902]

neither would I

do you think that if we did, brand name impact would nearly disappear? hahahahahaha

[JoeP]

I think net worth is secondary to income for most people, because they feel that a Big Income is the solution to all their current problems and their future.

But I've seen first-hand how people with big incomes find ways to spend it and dig themselves into low or negative net worth. A series of posts from user tomhole display this, as do countless callers to the Dave Ramsey show.

Therefore, it is pretty easy to see that good financial discipline plays into net worth far more than a big income.

[bigdaddybus]

personally, I think the cartoon above is a lousy portrayal of anything. Looks more like pointing out debt than net worth.

for example I have a car loan right now, does it tell you anything of my net worth? no. The loan is by choice and could be gone tomorrow.

I'm sure a more talented cartoonist could come up with a more entertaining illustration of net worth

[JustBill]

In that cartoon world, the beggar might find a way to accept credit & debit card donations.

And paypal of course.

[ZZZ]

Incurring debt isn't necessarily a bad thing. When used correctly, debt can springboard financial independence. AKA - student loans. The cartoon is comical. But if you look at the guy with 66k in student loans, he might have incurred that debt on the way to making 200k a year.

You just have to incur intelligent debt.

[corn18]

I think net worth is secondary to income for most people, because they feel that a Big Income is the solution to all their current problems and their future.

But I've seen first-hand how people with big incomes find ways to spend it and dig themselves into low or negative net worth. A series of posts from user tomhole display this, as do countless callers to the Dave Ramsey show.

Therefore, it is pretty easy to see that good financial discipline plays into net worth far more than a big income.

I deserve that.