How often do you calculate your net worth?

[W2R]

I just timed myself when manually checking my portfolio balance and bank account this morning, manually entering everything into my spreadsheet, and adding it up. This included Vanguard, TSP, and bank account (net worth as I understand it to be defined by David1961 in the first post of this thread).

It took 3 minutes, and that included figuring out why my bank balance had changed and entering that expenditure into the spreadsheet, as well. Luckily, as a retiree I can afford to spend 3 minutes over coffee doing something that I like to do.

 

[travelover]

..........It took 3 minutes...........

Oh sure, but you don't have as many coins as I do.

 

[W2R]

Oh sure, but you don't have as many coins as I do.

Oh, OK!!

 

[pb4uski]

I just timed myself when manually checking my portfolio balance and bank account this morning, manually entering everything into my spreadsheet, and adding it up. This included Vanguard, TSP, and bank account (net worth as I understand it to be defined by David1961 in the first post of this thread).

It took 3 minutes, and that included figuring out why my bank balance had changed and entering that expenditure into the spreadsheet, as well. Luckily, as a retiree I can afford to spend 3 minutes over coffee doing something that I like to do.

For me it is just a couple clicks in Quicken to select "One Step Update" and type in my One Step Update password and accept any transactions of the day. EZ

 

[W2R]

For me it is just a couple clicks in Quicken to select "One Step Update" and type in my One Step Update password. EZ

Yeah, and when a person can do it with 2 clicks with Quicken, or probably even faster (and cheaper) manually as I described, I don't really know why they use "no time" as a reason not to compute net worth more frequently. I suspect that they really don't feel any driving curiousity about it, which is OK too.

 

[unclemick]

I don't. But Vanguard does it for me every time I log on. After Katrina the other stuff is consumables - house, car, bank account, etc. Mentally discounted as not worth considering for net worth.

Now asset allocation wise I use SS and pension annual income X 25 in deciding where I'm at vs age/you can't take it with you analysis.

heh heh heh - The coins in the deposit box(not vault) are just well purty.

 

[CMH in CO]

Yearly, If I do it more than that, I fanatically obsess about ER more than I normally do and risk the consequences of getting in trouble with DH for trying to sell off his toys to pad our NW (Agreed upon rule: if it is in the form of a toy previous to ER radar-not included in NW. But anything sold now adds to our NW).

Cass

 

[Htown Harry]

But Microsoft Money's gone, no?

Yes and no.

Microsoft stopped selling versions of the software in 2009 and cut off online services for existing users in January 2011.

The still offer a limited-function version called MS Money Sunset, which I installed early this year. Works fine as a portfolio manager if you aren't looking for the efficiency of automatic updates for transaction and asset prices.

What Is Microsoft Money Plus Sunset?

Microsoft Money Plus Sunset provides an alternative version of Money with the following:

• No activation requirement. This version can be installed/reinstalled as needed without a requirement to activate.
• No online services. This includes online quotes, bill payment, statement downloads initiated by Money, data sync with MSN Money, etc. If your financial institution provides OFX or QIF statement downloads, the Sunset versions will allow you to import those statements into your Money file.
• Online Help is replaced with a local Help file.
• No Assisted Support. Self Help and community support may continue to be available for a few more years.
• File conversion from older versions of Money. The Money Plus Sunset versions will be able to open and convert Money Plus files and files from older versions of Money (e.g. Money 2006, Money 2007).

 

[H2ODude]

This thread makes me feel a little better about myself I've always assumed I was obsessive in that I updated it about daily. Over the years it's taught me to not get too excited about big moves, one way or the other. But yet I do it still. I just add up the investments to generate the number that SWR will give; I used to use Quicken for this but since about all investments are with FIDO now and Full View integrates with the Retirement Income Planner, I just update with that. That's what happens with the "big money"... these are the funds that before retirement were never withdrawn from, only added to. Now there's a monthly draw down into the credit union accounts for expenses.

Now, there again I keep pretty rigorous track of expense, with Quicken. Don't track where cash goes, these days $200 can last months. But every few days I post the credit card charges to determine the outstanding balance, and post a dummy of that on the checking account. That way I know at any time of the month how much I'm ahead of budget. I also post a set amount into the savings account each month as dummies for two big expenses...real estate tax and insurance. When the Amex and MC bills come, I manually balance them to verify that all charges are legit.

Well, that's more about my system than just the net worth. But it all works in tandem; net worth for me is the big pot or income engine. The credit union is the expense tracker. It's worked well for me.

 

[Finance Dave]

This thread makes me feel a little better about myself I've always assumed I was obsessive in that I updated it about daily.

Oh you're still obsessive...you're just obsessive along with many others here.

 

[pb4uski]

Oh you're still obsessive...you're just obsessive along with many others here.

+1

 

[REattempt]

I use Quicken to track my investments and download quotes daily. Since Quicken automatically updates my net worth every time I download quotes, it would technically make it daily for me!

On my net worth tracking spreadsheet, however, I calculate my net worth once a month, on the 15th (I have been doing that for almost 12 years now).

+1, but I do my spreadsheet at the end of the month...

 

[ShortInSeattle]

All of our accounts are with Fidelity, so I can get our number by logging on and looking at the main screen, which I do every few weeks. I mentally add in our home equity, although it's not something we can live off of (don't intend to sell) so I mostly pay attention to the account "number."

I suppose we could add in assets like computers and our car, but I don't count depreciating assets in our net worth.

SIS

 

[fanmail]

What is the best program for daily or real-time updates linking all of your accounts? Or is there even such a thing in existance? I always just guesstimate mine based on rounding down to the nearest 1000 in each account.

 

[pb4uski]

What is the best program for daily or real-time updates linking all of your accounts? Or is there even such a thing in existance? I always just guesstimate mine based on rounding down to the nearest 1000 in each account.

Not sure what is best but I use Quicken and think very highly of it. Once everything is set up and linked, it has a "One Step Update" function that goes out and updates all of your accounts. Once you accept the new transactions you are updated.

 

[rescueme]

What is the best program for daily or real-time updates linking all of your accounts? Or is there even such a thing in existance? I always just guesstimate mine based on rounding down to the nearest 1000 in each account.

We use Yodlee ( https://moneycenter.yodlee.com/moneycenter/mfalogin.moneycenter.do?_flowId=mfaloginflow )

It will allow you to show whatever you consider your net worth, with the exception of personal property, such as cars, boats, collectables, etc. You can enter these with your estimation as a manual entry, if you wish. I/DW consider personal property at $0 value, so it works for us.

It will also grab your current home (or other RE) directly from Zillow (like it or not) and post it as a current value, if you wish. It will also show your short term liabilities such as current CC debt.

As a FIDO customer, I also use their FullView feature, which uses Yodlee code "under the covers" to get all our accounts (for DW/me, which includes both FIDO and non-FIDO holdings), which is ported to FIDO's RIP (Retirement Income Planner).

Some folks will not allow 3rd party access to their accounts by allowing account/passwords to be maintained externally, but I/we don't have a problem with it. It's up to you and your confidence in the system.

BTW, a snapshot of Yodlee is sent to our (elder law) attorney, who is also responsible for our estate, along with taking the proceeds and adding them to the SNT (Special Needs Trust) for the benefit of our adult (disabled) son. It makes it easy to keep the current holdings updated if I/DW were to suddenly not be here tomorrow. I guess you could say we also use it as a cheap estate tool, since we don't have to have a separate (billable) session face to face with our attorney every 90 days and just email his office with the current info ...

 

[fanmail]

I started researching different choices last night. What are the differences between mint and yodlee? Both are free, whereas quicken costs $50 roughly. Has anyone used personal capital?

 

[palomalou]

Spouse's spreadsheet does it automatically daily, although we only update the investments every week or two. Who me, obsessive?

 

[foxfirev5]

I check every Saturday morning. No calculations just the total of liquid investment portfolio.