Out of curiosity, do all countries have net worth requirements like China? I always thought hubs and I were pretty financially set for our ages, but then I considered our mortgage and the fact that it would take us YEARS to pay off the mortgage and then amass $80,000 dollars. (Hello? School teacher and salesman. We're good people, but our careers don't lend themselves to paying off a mortgage in 5 years.)
Do people sell their homes and start renting in order to adopt?! That's the only thing I can figure in terms of adopting on a "modest" salary.
Re: Net worth Requirements?
We are adopting form China, and its actually quite easy to meet their net worth requirements. They allow you to count your 401k, IRA, pension and other savings accounts. Also, any equity currently in your house and your cars is counted.
What really surprised me was that they count the "equity" in your things - we were told to list the contents amount on our homeowners policy in our net worth. So, if your homeowners policy lists your contents coverage at $100,000 you get to add that in as equity. On our application and China documents, this was a separate line item and was expected to be used in figuring your net worth.
I wasn't sure how we'd look on paper, but with the contents amount, we made it with room to spare!
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Heading to China in November 2014 to bring our son home!