Comments on: What Would Happen If Everyone Could See Your Wealth?

By: J. Money

J. Money — Thu, 06 Nov 2014 01:43:15 +0000

In reply to LeRainDrop. Great insight indeed...

By: LeRainDrop

LeRainDrop — Mon, 03 Nov 2014 21:37:20 +0000

I would HATE it because I think people who are financially responsible would get alienated and penalized for their success. Jealous friends, family, strangers would put unrealistic and unfair expectations on the “wealthy” person, lots of talking about how greedy so-and-so is behind their back, etc. Equally bad, lots of people would make unsubstantiated assumptions and judgments about the “poor” person. As the world is now, we already struggle to convince folks that all human life is sacred, one person not more important than another, but with this added numerical tag being exposed to the public, we’d have greater difficulty with people judging another’s “worth.”

By: J. Money

J. Money — Mon, 03 Nov 2014 19:58:29 +0000

In reply to Kenny Schneider.

Yup! It can go both ways for sure… Guess you gotta decide what your target demographic is and if the upswing as much more potential than the downswings. I can tell you that I’d personally be much more drawn to you seeing how transparent you were online as I feel like I’d be able to trust you more and you won’t be hiding anything during the real estate transactions, even if that weren’t the case ;) Let me know if you end up posting it up! Would love to check it out if so…

By: J. Money

J. Money — Mon, 03 Nov 2014 19:50:01 +0000

In reply to Jason @ Islands of Investing. Haha yeah, better to just assume they don't to make you feel better ;)

By: Jayson @ Monster Piggy Bank

Jayson @ Monster Piggy Bank — Mon, 03 Nov 2014 08:45:46 +0000

There would be bias and inequality among people! Those with high amount of money would definitely prioritized; those with less we all know what treatment they would get.

By: How To Save Money

How To Save Money — Mon, 03 Nov 2014 07:50:51 +0000

Ooh this is a curious thing to happen. I guess would affect me in a way that I’d be more conscious of how I act, where I eat, what I buy. But I guess this would up my confidence more ‘coz I know it will be bigger than most people my league.

By: Kasia

Kasia — Mon, 03 Nov 2014 00:55:21 +0000

If everyone could see my wealth on my head then I’d be making a stronger effort to reduce spending and grow my net worth. I’d be embarrassed if people I know knew my current net worth.

By: Kenny Schneider

Kenny Schneider — Sun, 02 Nov 2014 18:51:09 +0000

I’ve been giving this a lot of thought, and the more and more I think about it, the more I want to include a Net Worth section on my website. It would provide INSTANT accountability and, as an agent, I think it might actually help my street cred. Most people think we make money hand over fist, but if I showed them what my net worth really is, maybe they wouldn’t feel so threatened?

Then again, if I start making six figures and become a millionaire by 40, would people hate me? Therein lies my conundrum…

By: Stephanie

Stephanie — Sun, 02 Nov 2014 05:51:51 +0000

Great thought experiment! I think it would be very interesting. I’d like to think I’m doing an excellent job building up my net worth, so maybe friends would see it and ask for advice? And it would also be weird for some people I know who live beyond their means to see just how much their out of control spending is hurting them!

By: Prudence Debtfree

Prudence Debtfree — Sun, 02 Nov 2014 00:29:19 +0000

I feel comfortable saying how much debt we’ve paid off (nearly $100,000 btw), but I don’t feel comfortable revealing our net worth or our income. I think it’s because I’m very aware that there are so many people struggling financially because of things outside of their control – like job loss, divorce, and illness – I’d want to avoid “rubbing salt in their wounds.”