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How often do you calculate your net worth?
09-24-2012, 09:47 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 1,085
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How often do you calculate your net worth?
Excluding real estate, how often do you track your net worth? Includes all investments, stocks, funds, bonds, bank accounts, etc. I formally track mine every three months, but I do check on some values more often.
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09-24-2012, 09:57 AM
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#2
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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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).
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09-24-2012, 10:04 AM
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#3
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,501
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Every day for me, too. I have been doing this for over a decade.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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09-24-2012, 10:04 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,895
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I print my statements monthly and keep them in a three ring binder. The cover sheet is a consolidated worksheet that show net worth.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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09-24-2012, 10:05 AM
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#5
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Recycles dryer sheets
Join Date: Aug 2011
Location: GA
Posts: 211
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I visit Mint.com a couple of times a week and it is automatically calculated for me.
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09-24-2012, 10:12 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,366
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If I'm doing everything right, Quicken thinks my net worth is $0. That's because I use a double-entry method that balances all assets with a budget "liability", even if that's just retirement savings. I can generate a net worth report. I usually look at it if I think it might be at a new high or low. Maybe once a year to once a quarter.
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09-24-2012, 10:12 AM
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#7
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Texas
Posts: 1,038
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Monthly, been doing it for about 20 years. I think it contributed greatly to my ER. I had figured what I needed to retire and calculating in monthly helped keep me on track. Interestingly the amount I ended up with at 55 was within 50K of what I thought I would need when I got there. Maybe I should have shot for higher.
__________________
In theory, theory and practice are the same. In practice, they are not.
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09-24-2012, 10:16 AM
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#8
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,212
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Another Quicken user here... so it updates every time I update quotes.
It's not daily for me because I don't run quicken daily.... life gets in the way (darn J*b and kid$!!!) But I update once a week, typically, when I'm paying bills.
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09-24-2012, 10:16 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Mississippi
Posts: 1,894
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Software, currently quicken, does it automatically.
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09-24-2012, 10:22 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,743
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I use Fidelity's "full view" once a month but I also use Quicken whenever I update quotes or download transactions.
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09-24-2012, 10:26 AM
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#11
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gone traveling
Join Date: Jul 2007
Posts: 333
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I update my net worth spreedsheet on monthly basis. I started doing it about 10 yeras ago. It helped me with my decision to retire earlier this year.
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09-24-2012, 10:28 AM
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#12
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Recycles dryer sheets
Join Date: Oct 2007
Location: San Diego
Posts: 313
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Hubby uses wikinvest for most of our data so we can see it whenever, but we save and track the numbers on a monthly basis (15th of each month). It's pretty awesome to see our money grow.
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09-24-2012, 10:30 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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I do it whenever W2R says "Wheee!".
Then I feel good until the market drops again.
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09-24-2012, 10:34 AM
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#14
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,362
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I track all my financial accounts in Moneydance, and it always shows a Net Worth figure at the top of the home page.
Beyond that, I use a spreadsheet to keep track of my investments for asset allocation purposes, and that gets updated most weekends but always at the end of each month.
__________________
I thought growing old would take longer.
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09-24-2012, 10:38 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,906
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Calculate? Never. Gross estimate? Maybe once a year.
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09-24-2012, 10:42 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,722
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I update a spreadsheet on the last day of the month. It contains only balances. Most of the fund investment data (since1990) comes from Vanguard. After parsing the data into named cells, I get a quick look at how far I am deviating from desired AA.
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09-24-2012, 11:06 AM
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#17
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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Daily, via Yodlee...
Nothing to do, it's all automatic.
BTW, it includes the value of our RE by importing current info from Zillow. While it may not be totally accurate, it's good enough to get an overall "estate" net worth.
As far as only investments? That's tracked via FIDO's FullView product, which is ported directly to their Retirement Income Planner (RIP) forecast tool, and is also run daily (heck, I'm retired - I have the 10 minutes to do it )...
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09-24-2012, 11:06 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,375
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All my bank, investment, and credit card accounts update and post to Quicken and I run a net worth report each quarter or whenever I feel like it.
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09-24-2012, 11:08 AM
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#19
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Recycles dryer sheets
Join Date: Dec 2009
Location: Cleveland
Posts: 344
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Quote:
Originally Posted by David1961
Excluding real estate, how often do you track your net worth? Includes all investments, stocks, funds, bonds, bank accounts, etc. I formally track mine every three months, but I do check on some values more often.
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+1
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09-24-2012, 11:14 AM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,698
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While I monitor my banking and mutual fund investments (taxable and Rollover IRA) every day since I added online access to those accounts in the last few years, I record the actual balances once a month since I ERed. When I was still working, I recorded the actual 401(k) balance once every 3 months when the quarterly statement came out. I get a statement for my Rollover IRA every month now. I use my monthly bank statement to record its balance which is around the 14th of the month.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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