Comments on: Reviewing My Net Worth

By: Financial Samurai

Financial Samurai — Wed, 30 Sep 2009 06:31:22 +0000

I think reviewing once’s networth once or twice a year is good enough. Thanks for sharing!

By: Lazy Man

Lazy Man — Wed, 30 Sep 2009 03:28:28 +0000

It’s coming back. It didn’t work in my new theme. I just need to make it fit in this older theme, which I expect to happen next week.

It would be weird to bring it back before I started tracking this again.

By: The Digerati Life

The Digerati Life — Wed, 30 Sep 2009 00:40:41 +0000

Appreciate the full disclosure. You used to have a nice box at the top right hand side of this site that showed your net worth in neon lights. I miss it. I guess you took it out because you were no longer tracking it for a while?

I haven’t tracked mine in a while too because it was somewhat depressing. Imagine both me and my spouse trying to make money online during a sinking market and you’ll know why I have been averse to plotting my net worth. ;)

By: Jesse

Jesse — Thu, 24 Sep 2009 17:43:56 +0000

I am not anonymous on my blog and I tried initially to keep up with net worth posts and such but I felt nervous about it every time. Eventually the nerves and the process of calculating everything (some things I have don’t show up in any money management software so have to be calculated manually) just killed this off for me. Maybe I will just limit it to a once a year net worth post.

By: MoneyProgress

MoneyProgress — Thu, 24 Sep 2009 15:43:33 +0000

Oh, and I searched your site and saw that you have an old Yodlee account and such already. You mentioned prosper and lending club and other complex accounts, but Yodlee does handle those two and many others I wouldn’t have thought.

By: MoneyProgress

MoneyProgress — Thu, 24 Sep 2009 15:41:29 +0000

My financial situation isn’t too complex but I’ve found that online tools like Yodlee MoneyCenter and Mint can really help track your net worth easily. I’ve been lazy about doing it manually myself but I’ve been able to keep an eye on it with these tools. I’ve got 20+ online accounts they track.

Anyways I just wrote a blog post (see website) on the same subject (not checking net worth often) so I thought I’d mention it.

By: Lazy Man

Lazy Man — Wed, 23 Sep 2009 07:18:18 +0000

When I review my net worth, I typically go through a processes of loading about 15 online accounts where my money is. Aggregating all the information is not necessary. As long as you are doing the best you can and making the right financial choices – then you repairing it.

I have been using something closer to the positive side of cash flow (earnings). I already know how to live within my means.

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Wed, 23 Sep 2009 04:30:13 +0000

A statement and then a question:

Regarding reasons to ignore your net worth, if you don’t assess the damage you won’t know that to do to repair it.

If you don’t regularly monitor your net worth, what metric do you use to assess your financial progress? (Please don’t say your credit score.)

By: Lazy Man

Lazy Man — Tue, 22 Sep 2009 18:13:35 +0000

MoneyEnergy,

I also post my passive income each month. Though I call it alternative income as it’s not exactly passive.

Kosmo,
How about if I include my identity for anyone on here who wants to buy my condo.

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Tue, 22 Sep 2009 18:01:50 +0000

@ Lazy – well, if you ever go public with your identity, the value of your house will go through the roof, due to your celebrity status.

By: MoneyEnergy

MoneyEnergy — Tue, 22 Sep 2009 17:32:58 +0000

I hear you about it being boring looking at the same numbers month in and month out:) I’ve taken more of a liking to comparing my passive income each month, that motivates me more than networth itself. Whatever keeps you going, though!

By: Lazy Man

Lazy Man — Tue, 22 Sep 2009 17:20:48 +0000

Kosmo, I got 25 years left on my mortgage. Hopefully that counts as in the “near future.”

NCN, it does get fuzzy with property and possessions. I feel you just have to take a stand and pick one way and stick with it. Personally, I count them both as they have value. If they were to disappear, the financial value of my assets would go down.

By: NCN

NCN — Tue, 22 Sep 2009 17:06:45 +0000

It’s always difficult for me to calculate “net worth”. I know the value of my retirement portfolio and the cash in the bank, but the numbers get “fuzzy” when I think about property and possessions. Like you, it’s been a while since I took a good hard look, probably due to the fact that retirement took such a hit last two years.

By: David@DINKS Finance

David@DINKS Finance — Tue, 22 Sep 2009 17:04:29 +0000

Very cool that you are open with your finances. I know that over at DINKS they post their net worth from time to time. I think these are really helpful to people because it encourages them to really take a look at their net worth and evaulate their choices.

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Tue, 22 Sep 2009 15:28:17 +0000

My gut feeling is that some of these housing markets are not going to “recover” to pre-crash values at any point in the near future. The tightening of credit is going to take some buyers out of the market (or push them down a tier). The days of no-money-down, no documentation required, interest-only, adjustable rate mortgages may be behind us for good.

Hopefully that’s not the case for your property.

By: Lazy Man

Lazy Man — Mon, 21 Sep 2009 20:49:07 +0000

both.

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Mon, 21 Sep 2009 19:11:18 +0000

“So it’s a poor investment property until the market gets a lot better. ”

Until the market gets a lot better, or UNLESS the market gets a lot better?