NastyWoman
Senior Associate
Joined: Dec 24, 2010 20:50:37 GMT -5
Posts: 14,334
|
Post by NastyWoman on Jan 30, 2018 16:08:02 GMT -5
I count my house payment at the beginning of the month, and do the net worth at the end. Yeah, technically it makes no sense how I do it, because it's assets (except checking) from January and house payment and checking from February going into my January report, but I've been doing it the same way for 6 years so at least it's consistent. Your quirk is not as bad as mine. Eleven years ago when I bought my car new, I couldn't handle the drop in NW so I started to includethe car. I did a straightline depreciation of the car over five years, at which time its value was zero. So far, so good. But I kept going with the depreciation and now the negative value of it is more than I ever paid for the car. And to compound that, I also subtract an annual sunk cost for car repairs. So I am closing in on ($20K) for the car
|
|
jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
|
Post by jd2005 on Jan 30, 2018 16:50:54 GMT -5
Yeah, technically it makes no sense how I do it, because it's assets (except checking) from January and house payment and checking from February going into my January report, but I've been doing it the same way for 6 years so at least it's consistent. Your quirk is not as bad as mine. Eleven years ago when I bought my car new, I couldn't handle the drop in NW so I started to includethe car. I did a straightline depreciation of the car over five years, at which time its value was zero. So far, so good. But I kept going with the depreciation and now the negative value of it is more than I ever paid for the car. And to compond that, I also subtract an annual sunk cost for car repairs. So I am closing in on ($20K) for the car I thought I was a bit quirky by taking the value of my car out slowly to zero.
|
|
NastyWoman
Senior Associate
Joined: Dec 24, 2010 20:50:37 GMT -5
Posts: 14,334
|
Post by NastyWoman on Jan 30, 2018 17:12:58 GMT -5
Your quirk is not as bad as mine. Eleven years ago when I bought my car new, I couldn't handle the drop in NW so I started to includethe car. I did a straightline depreciation of the car over five years, at which time its value was zero. So far, so good. But I kept going with the depreciation and now the negative value of it is more than I ever paid for the car. And to compond that, I also subtract an annual sunk cost for car repairs. So I am closing in on ($20K) for the car I thought I was a bit quirky by taking the value of my car out slowly to zero. Get adventerous and keep going. Join me on the dark side
|
|
phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
|
Post by phil5185 on Jan 30, 2018 17:29:26 GMT -5
Sounds like a Nash Rambler?
|
|
NastyWoman
Senior Associate
Joined: Dec 24, 2010 20:50:37 GMT -5
Posts: 14,334
|
Post by NastyWoman on Jan 30, 2018 17:38:21 GMT -5
Sounds like a Nash Rambler? Close --- it is a Nissan Versa
|
|
Deleted
Joined: Apr 24, 2024 9:28:52 GMT -5
Posts: 0
|
Post by Deleted on Feb 1, 2018 8:47:14 GMT -5
The numbers are in. January 2018 was my best month ever! Retirement accounts up almost 24K, more than half my annual income in one month. This is really going to suck when it crashes.
|
|
jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
|
Post by jd2005 on Feb 1, 2018 8:50:16 GMT -5
The numbers are in. January 2018 was my best month ever! Retirement accounts up almost 24K, more than half my annual income in one month. This is really going to suck when it crashes. I know, right?!?! We made 5% on my retirement $ this past month...5%! Noticed an interesting thing too...our NW jumped roughly 33% in 1 year. What a fun ride this market has been.
|
|
Deleted
Joined: Apr 24, 2024 9:28:52 GMT -5
Posts: 0
|
Post by Deleted on Feb 1, 2018 9:02:15 GMT -5
I've only had one negative month in the past 15 and it was BARELY negative ($127). But that was the month I paid my son's tuition for the year and went on my cruise, so cash accounts took a hit. I find myself looking at all the cash I've been sitting on and getting a little ill.
|
|
tallguy
Senior Associate
Joined: Apr 2, 2011 19:21:59 GMT -5
Posts: 14,138
|
Post by tallguy on Feb 1, 2018 12:22:13 GMT -5
Tell me about it. In three weeks my accounts went up by more than I made working full-time. In four weeks they went up by more than I had ever made in a year. And that is in retirement with no income and no contributions. It'll crash at some point, sure, but it's nice to watch in the meantime. Still like 2013 and 2017 though.
|
|
svwashout
Established Member
Joined: May 22, 2011 12:41:13 GMT -5
Posts: 377
|
Post by svwashout on Feb 1, 2018 15:50:12 GMT -5
|
|
Bonny
Junior Associate
Joined: Nov 17, 2013 10:54:37 GMT -5
Posts: 7,437
Location: No Place Like Home!
|
Post by Bonny on Feb 1, 2018 16:10:52 GMT -5
Isn't that what net worth is? It sounds like you keep track of net worth only you exclude the house, but technically that's still a financial asset. You aren't planning on selling it but you COULD. My equity could pay rent for 20 years in a little one bedroom apartment, so I certainly feel it has value to me financially. I don't think most people include personal property in net worth. Sometimes cars to offset a loan, but household stuff? No. No, net worth includes everything. That is what the definition is. Home equity, investments, other property, personal property (cars, jewelry, art, collectibles, etc.) If you prefer the term "investable assets" for the other that is fine too. My home equity could buy several properties for cash in some posters' neighborhoods. It is irrelevant, though, unless I not only sell but also move either out of the area or into an apartment. If I were merely changing houses I would be buying into the same market I was selling in so no real effect. So no, I do not keep track of net worth. I ignore net worth unless someone asks. I do keep track of invested assets and cash, but that's it. I like thinking of my home equity as the "Old Folks' Home Fund".
|
|
tallguy
Senior Associate
Joined: Apr 2, 2011 19:21:59 GMT -5
Posts: 14,138
|
Post by tallguy on Feb 1, 2018 16:13:59 GMT -5
No, net worth includes everything. That is what the definition is. Home equity, investments, other property, personal property (cars, jewelry, art, collectibles, etc.) If you prefer the term "investable assets" for the other that is fine too. My home equity could buy several properties for cash in some posters' neighborhoods. It is irrelevant, though, unless I not only sell but also move either out of the area or into an apartment. If I were merely changing houses I would be buying into the same market I was selling in so no real effect. So no, I do not keep track of net worth. I ignore net worth unless someone asks. I do keep track of invested assets and cash, but that's it. I like thinking of my home equity as the "Old Folks' Home Fund". For me it is the, "Just in case everything else in the world goes to hell..." fund.
|
|
jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
|
Post by jd2005 on Feb 1, 2018 16:38:24 GMT -5
I like thinking of my home equity as the "Old Folks' Home Fund". For me it is the, "Just in case everything else in the world goes to hell..." fund. <iframe width="29.360000000000127" height="5.0800000000000125" style="position: absolute; width: 29.36px; height: 5.08px; z-index: -9999; border-style: none; left: 0px; top: 0px;" id="MoatPxIOPT0_96071983"></iframe> <iframe width="29.360000000000127" height="5.0800000000000125" style="position: absolute; width: 29.36px; height: 5.08px; z-index: -9999; border-style: none; left: 1398px; top: -214px;" id="MoatPxIOPT0_3449228"></iframe> <iframe width="29.360000000000127" height="5.0800000000000125" style="position: absolute; width: 29.36px; height: 5.08px; z-index: -9999; border-style: none; left: 10px; top: -16px;" id="MoatPxIOPT0_77002850"></iframe> <iframe width="29.360000000000127" height="5.0800000000000125" style="position: absolute; width: 29.36px; height: 5.08px; z-index: -9999; border-style: none; left: 1398px; top: -16px;" id="MoatPxIOPT0_24379533"></iframe> That is why I have an open HELOC with nothing pulled from it.
|
|
tcu2003
Senior Member
Joined: Dec 31, 2010 15:24:01 GMT -5
Posts: 4,942
|
Post by tcu2003 on Feb 1, 2018 17:08:24 GMT -5
I updated mine for the month.
PDQ as I'll probably delete this later, but household combined retirement accounts crossed the $1M mark for the first time, which is kind of a fun milestone (albeit one that doesn't much mean anything as DH is 41 and I'm 36, but hey, whatever). As MPL said, it's going to suck when the market crashes, but oh well - I'll enjoy the ride and the crazy highs for now.
Our retirement accounts alone increased by about 1/3 of our combined household income from the end of January to the end of December - craziness.
|
|
jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
|
Post by jd2005 on Feb 2, 2018 9:31:21 GMT -5
I updated mine for the month. PDQ as I'll probably delete this later, but household combined retirement accounts crossed the $1M mark for the first time, which is kind of a fun milestone (albeit one that doesn't much mean anything as DH is 41 and I'm 36, but hey, whatever). As MPL said, it's going to suck when the market crashes, but oh well - I'll enjoy the ride and the crazy highs for now. Our retirement accounts alone increased by about 1/3 of our combined household income from the end of January to the end of December - craziness. Awesome! Yes...the crash/correction is going to be interesting to say the least. Key is not to panic and stay in for the ride back up!
|
|
azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
Posts: 809
|
Post by azphx1972 on Feb 2, 2018 11:14:58 GMT -5
The numbers are in. January 2018 was my best month ever! Retirement accounts up almost 24K, more than half my annual income in one month. This is really going to suck when it crashes. I know, right?!?! We made 5% on my retirement $ this past month...5%! Noticed an interesting thing too...our NW jumped roughly 33% in 1 year. What a fun ride this market has been. Dang, my NW only went up ~20% this past year. You're killing it!
|
|
NastyWoman
Senior Associate
Joined: Dec 24, 2010 20:50:37 GMT -5
Posts: 14,334
|
Post by NastyWoman on Feb 2, 2018 15:29:34 GMT -5
today will be a sad NW day if you just passed a major milestone
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Feb 2, 2018 15:37:03 GMT -5
I'm giving myself until the end of my "birthday month" now... don't think I'm gonna make it by Tuesday.
|
|
tcu2003
Senior Member
Joined: Dec 31, 2010 15:24:01 GMT -5
Posts: 4,942
|
Post by tcu2003 on Feb 2, 2018 20:56:28 GMT -5
today will be a sad NW day if you just passed a major milestone Yep. I may go log in to look later, but since I track NW monthly, at least I won’t have to record it.
|
|
thyme4change
Community Leader
Joined: Dec 26, 2010 13:54:08 GMT -5
Posts: 40,385
Member is Online
|
Post by thyme4change on Feb 2, 2018 21:02:13 GMT -5
Your quirk is not as bad as mine. Eleven years ago when I bought my car new, I couldn't handle the drop in NW so I started to includethe car. I did a straightline depreciation of the car over five years, at which time its value was zero. So far, so good. But I kept going with the depreciation and now the negative value of it is more than I ever paid for the car. And to compond that, I also subtract an annual sunk cost for car repairs. So I am closing in on ($20K) for the car I thought I was a bit quirky by taking the value of my car out slowly to zero. I use the trade-in value of KBB saying that my car is in "fair" shape. Even after 5 years, a car is worth **something**. I sold my 11 year old accord for 5 grand, and the person who bought it thought they were getting a super-steal. It was my nephew and I charged him KBB trade-in value. That is tradition in my family, of which I benefited. I wonder how much I could have sold it to a stranger.
|
|
jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
|
Post by jd2005 on Feb 23, 2018 14:06:06 GMT -5
Next week's net worth #s should be interesting. Looking forward to seeing where on the roller coaster of this stock market I fall on that day.
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Feb 28, 2018 15:50:57 GMT -5
I might take this month off from updating, LOL. Needless to say, I did not hit my NW goal of $400K by 34. Still gonna try for $500K by 35, but only have 11 months to go now!
|
|
Deleted
Joined: Apr 24, 2024 9:28:52 GMT -5
Posts: 0
|
Post by Deleted on Feb 28, 2018 16:32:50 GMT -5
I might take this month off from updating, LOL. Needless to say, I did not hit my NW goal of $400K by 34. Still gonna try for $500K by 35, but only have 11 months to go now! LOL Me too! I was hoping for a big stock rally this week, but today was not good.
|
|
alabamagal
Junior Associate
Joined: Dec 23, 2010 11:30:29 GMT -5
Posts: 8,117
|
Post by alabamagal on Feb 28, 2018 18:14:44 GMT -5
The numbers are in. January 2018 was my best month ever! Retirement accounts up almost 24K, more than half my annual income in one month. This is really going to suck when it crashes. OMG! Did you predict the stock market correction? I have Feb 2nd as the beginning of the big losses.....
|
|
Deleted
Joined: Apr 24, 2024 9:28:52 GMT -5
Posts: 0
|
Post by Deleted on Feb 28, 2018 18:18:43 GMT -5
The numbers are in. January 2018 was my best month ever! Retirement accounts up almost 24K, more than half my annual income in one month. This is really going to suck when it crashes. OMG! Did you predict the stock market correction? I have Feb 2nd as the beginning of the big losses..... I'm pretty good huh?
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Feb 28, 2018 19:11:40 GMT -5
Give us a little more warning next time!
|
|
alabamagal
Junior Associate
Joined: Dec 23, 2010 11:30:29 GMT -5
Posts: 8,117
|
Post by alabamagal on Feb 28, 2018 19:48:45 GMT -5
With dates next time!
|
|
Deleted
Joined: Apr 24, 2024 9:28:52 GMT -5
Posts: 0
|
Post by Deleted on Mar 1, 2018 8:53:42 GMT -5
Damn my OCD! I couldn't skip the month after not missing one in 6 years. It wasn't horrible. Worst negative month I've had excluding the one where I removed my ex's accounts, but still didn't even wipe out January gains. NW down about 2% (a little under 15K) Of course if this continues month after month it's going to be depressing.
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Mar 1, 2018 9:40:44 GMT -5
I think I screwed myself by not being consistent as to what day of the month I update... pretty sure my January update was 1/26, which means last month will look worse than it actually is. I guess I'll try to get February's up tonight.
We refilled the propane tank, put new brakes and tires on my car, and I had $4500 worth of eye surgery, so it was going to be an ugly month anyway!
|
|
jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
|
Post by jd2005 on Mar 1, 2018 11:41:27 GMT -5
Updated for February....down $10k. Ouch!
|
|