Comments on: A Brief Net Worth Update

By: Lazy Man

Lazy Man — Wed, 20 Aug 2008 17:44:41 +0000

I’ve thought about getting a SEP-IRA and other similar accounts, but I don’t currently have the income to contribute much to it. The IRA and 401K’s are from past jobs.

I’m looking to move my 401K to an IRA where I’d get access to a lot of diversification via low-cost ETFs (REITS, commodities, bonds, are all available). I would move the money today, but it’s a process where my money will not be invested for some time in the transition. I’m worried that the market might rebound in the meantime. I’m waiting for when I feel that things are overvalued again (not necessarily trying to pick a top, but I think we more likely to up than down at this point).

By: Dax Desai

Dax Desai — Wed, 20 Aug 2008 16:29:19 +0000

Since you have so much of your net worth tied up in retirement accounts, have you considered a self-directed type account? You can invest in income property and many other things that you can’t in a regular IRA or 401K. I’ve helped alot of people set it up. It allows you more diversification and control.

By: Matt

Matt — Tue, 19 Aug 2008 19:53:20 +0000

I stopped my net worth posts a while back since I wasn’t making any headway – seeing the same numbers staring at me really wasn’t motivating me at all. I like Jim’s idea of short and long term planning posts.

By: Online Dividends

Online Dividends — Tue, 19 Aug 2008 19:32:46 +0000

I find it more interesting to read monthly income reports than monthly net worth reports.
It seems to me that net worth reports should be performed annually in order to avoid the “noise” of short-term market swings.

By: jim of Blueprint for Financial Prosperity

jim of Blueprint for Financial Prosperity — Tue, 19 Aug 2008 11:56:49 +0000

I’ve turned my net worth posts into short and long term planning posts, rather than straight up numbers talk. You might find that’s more interesting to write about…