Comments on: Net Worth Report #126: $843,567.22 (+$1,663.83)

By: J. Money

J. Money — Wed, 11 Jul 2018 15:59:58 +0000

In reply to RichieRich. We keep a lot because I'm self-employed and we like having a nice safety cushion :) No real estate in our worth because we happily rent!

By: RichieRich

RichieRich — Wed, 11 Jul 2018 15:46:44 +0000

I was curious to why you keep a large amount of 75k in cash? Also, is real estate factored into your net worth? Keep on trucking to that mil!

By: J. Money

J. Money — Fri, 06 Jul 2018 13:27:48 +0000

In reply to ToBeHonest.

Agreed 100%! I used to share our full budget and expenses for the first couple years of this blog, but over time have stopped tracking every penny once we got a good handle on things (and once kids came into the picture too – hah!).

To answer your question though, we don’t have any debts or loans or anything like that. We do pay off a credit card in full every month (which is accounted for here), but outside of that we’re 100% debt free.

Maybe one day I’ll take the time to lay out what a typical month looks like us expense/income wise to better fill out an overall picture. I agree it would add some good perspective here :)

By: Kit

Kit — Fri, 06 Jul 2018 02:43:38 +0000

In reply to J. Money.

I looked at your other people’s money post. I love that. My favorite posts are income/expense/net worth posts. It gives me the ability to relate to the writers when I can see actual numbers. It’s also nice to see their commentary on what they think they are doing well, where the can improve, and so on.

I also get to be super jealous when I see someone’s entire budget is less than my mortgage. My numbers probably aren’t as interesting to others now.

I think they were more exciting last year when I was living in an apartment in DC and receiving per diem (travel expenses) in addition to my salary, Lady Kit was living in an apartment in Monterey, CA and no one was living in our house in SoCal (at least I hope no one was). We were also dropping 5k+ a month on Lady Kit’s student loans.

Now we are just have normal DINK numbers.

By: Steve

Steve — Thu, 05 Jul 2018 16:32:03 +0000

Good looking kid there, and he is lucky that his parents are already investing into his future. Looks like another awesome month, even if it was a bit uneventful.

By: ToBeHonest

ToBeHonest — Thu, 05 Jul 2018 14:24:06 +0000

As a hobbyist accountant, I’d love to see the Liability and Equity section of your balance sheet. You show the Assets here, but I can’t see the other side of the equation A = L + E. If your Liabilities are equal to 0, then it doesn’t make the story more interesting, but for your readers, many of whom this isn’t the case for, it might be insightful to see how the full equation works. If you tracked both an income statement and a statement of cash flows, I think those would be interesting for readers to see also (for example, if you made $10,000 this month before spending $8,332 in expenses to arrive at $1,668 in net income before this would show readers how revenue is offset by expenses before the remaining net income converts to retained earnings helping to boost your Assets). The statement of cash flows would add more perspective, while showing that not all cash outflows are created equally — an expense (say a utilities payment) is significantly different from a conversion of assets (say a car payment) in terms of it’s effect on the balance sheet and, ultimately, one’s net worth [Note: a utilities payment decreases assets while assets remain the same for a car payment, though an interest expense will occur at some point on car payments).

I’ve talked too much. I always enjoy seeing these posts. My net worth reached 6 figures last month, and a large part of that is due in part to reading this blog and realizing it is something that I should be planning and tracking. Thanks for your help!

By: Young FIRE Knight

Young FIRE Knight — Tue, 03 Jul 2018 16:35:48 +0000

Hit me up if you need a babysitter! Totally wouldn’t mind watching the kids if you need a night off plus I’m relatively close by! :)

Could the one account have gone down while the others didn’t due to dividend payments that went out in June? Just a thought though not sure if that would be the reason.

Just hit the first 100K milestone myself so June was a month of celebration!

By: Revanche @ A Gai Shan Life

Revanche @ A Gai Shan Life — Mon, 02 Jul 2018 19:48:20 +0000

In reply to J. Money. I totally do have the money. I just don't want to give it up yet hehe. Also: lemme babysit! :D

By: J. Money

J. Money — Mon, 02 Jul 2018 19:24:07 +0000

In reply to Revanche @ A Gai Shan Life. Haha yes - I'm with Single Ma. If you still want something after all that time, you are definitely allowed to get it :) (Provided you actually *have* the money, which we all know you do!)

By: J. Money

J. Money — Mon, 02 Jul 2018 19:23:14 +0000

In reply to Jody. NICE WORK!!!! Imagine what a world you just opened up for that kid later on! Forever changed - well done :)