Though I'd agree that the media are usually are confused, you are incorrect. If you read the article there is a column on the right-hand side listing assets and liabilities. Net worth = Assets- liabilities. Assets were estimated at nearly 2.4 million Liability (primarily mortgage debt) was ~ 750K You could argue that their assets aren't worth as much as they estimate. But please get the facts straight before typing.
Exactly what I was saying. The couple can liquidate the vacation home. Wife is choosing not too, but instead cutting expenses elsewhere (medication). Also hubby going back to work…From a financial perspective they can exit just fine, but are choosing not too. That part is dumb, but this couple isn't exactly taking it up in the shorts.
Actually, my real question is why did this couple want to be in an article in Money? To demonstrate what not to do? Why do people like to opening disclose their net worth. It's one thing to post in blogs without really identifying who you are…But an article…
I generally find the Money articles pretty dumb. My favorite dumb articles are all the "Millionaire in the Making" ones. Every single article, the primary home's equity was part of computation. Yeah whatever. And who isn't a millionaire these days using that metric.
