Let me just say up front I don't want to do this. Period. It saddens and embarrasses me, which is odd considering I don't know any of you from Adam's Off Ox. Either way, I've done enough guess-timating in my life to know my Net Worth ain't what it should or could be.
I've perused the How to know if you're wealthy thread, and it also is depressing and frustrating. The formulas are annoying at best, if nothing else because they mostly fail to consider cost of living. The net worth of someone in NY is going to look much better than the net worth of someone in upstate SC.
Let's take 2 folks and make it as simple as possible: assume they have neither debt nor savings, just a job and a house they financed completely.
FROM THE 2000 CENSUS
BROOKLYN NY
32135 MEDIAN SALARY
229200 MEDIAN HOME VALUE
188900 MEDIAN HOME ASKING PRICE
------------------------------------
SALARY + (MHV - MHAP)
72435 simple net worth
UPSTATE SC
33144 MEDIAN SALARY
112500 MEDIAN HOME VALUE
97000 MEDIAN HOME ASKING PRICE
------------------------------------
SALARY + (MHV - MHAP)
48644 simple net worth
By sheer numbers Ms. Brooklyn is doing much better than Ms. SC, even though Ms. Brooklyn can not likely meet her house payment on her salary. Frustrating.
With all that being said, all I know for sure is my net worth is currently negative (big surprise there 
), a very obvious Frugal Failing. The good news (if you can call it that), is that this is using a conservative estimate on the value of my house. Going with zillow estimated value, I'm in the black by 10k.
Does that make me feel any better? ummmm, no, not really 
Net Worth #1
October 12th, 2006 at 02:11 pm
October 12th, 2006 at 02:24 pm
October 12th, 2006 at 02:59 pm
.
The various wealth computers do not think highly of my financial standing, but I actually find myself significantly better off than most of my contemporaries. Why? No significant debt outstanding, limited committed expenses, and income streams well in excess of my needs. My "wealthier" friends struggle to support their lifestyles. They look better on paper; I live unencumbered. Who's richer and by what standard?