Comments on: Net Worth Update: January – $213,832.79

By: J. Money

J. Money — Mon, 28 Feb 2011 15:27:00 +0000

I don’t subscribe to the idea that retirement funds don’t count in your Net Worth ;) What if I had $5 million dollars in there? I’d still be in debt? Nah…those are assets in my books whether they’re liquid or not. I can cash out at any time if I wanted (and pay the taxes/fees and wait however many days to get it) which would then = cash. But that’s not to say my way of calculating it is “right” – I actually don’t believe there is one true way to do it, it’s all up to the individual to determine what they want to get out of their net worths.

By: Steve Molnar

Steve Molnar — Sun, 27 Feb 2011 16:47:00 +0000

You realize you actually have a negative net worth right. You only have cash and an emergency fund because of your line of credit. Networth doesnt include retirement accounts because of their lack of liquidity. The only equity you built in your house you financed so even if you sold it your net worth wouldnt change, except for 5% sales fee so you would lose money. youre in debt but at least youre in debt and have so sort of retirement set up.

By: Catherine

Catherine — Sun, 06 Feb 2011 18:17:02 +0000

good call on clearing your credit card!

By: J. Money

J. Money — Fri, 04 Feb 2011 17:06:48 +0000

@JT McGee – Yup! That’s the problem. I’d like to be able to sell super high and then buy super low – can’t you just make that happen for me? ;)
@Nunzio Bruno – Yes! Start posting them :) Although the most important is for you to be first tracking it. So as long as you’re doing that and you know where you stand, then the rest is just for your fans, haha…
@Halee – Wooo! Glad it helps you! I’ll join you in the drinking of wine this weekend too ;)

@Financial Samurai – That’s an excellent question my friend, and so far the answer to that is No. No one’s given me too much $hit for posting up these net worths before, but every now and then i get a “man you’re an idiot! you should be doing XYZ instead” but as we know that’s par for the course ;) I think your net worth updates would be pretty drastically different than mine though, so it would be interesting to see what would happen if you started posting. You def. have a loyal fan base which should keep things tame :)

As for feeling different now that my face was exposed the other day – yeah, it’s weird :) And way more scary/real. I haven’t decided if if that video post was a one time shot or not, but either way I can tell you that I feel more alive and vulnerable at the same time. But I like that – it’s much better than being bored.

By: Financial Samurai

Financial Samurai — Thu, 03 Feb 2011 17:08:29 +0000

J, thanks for sharing. I enjoy seeing networth posts, and at the same time, I fear doing my own publicly and keep things hidden. Have you experienced anybody ever throw rocks at you for your net worth post?

Now that you are out in the open, do you feel any different sharing your net worth?

thx

By: Halee

Halee — Thu, 03 Feb 2011 08:21:45 +0000

You, are an INSPIRATION. I’m going to sit down with a bottle of wine over the weekend and spend a few hours reading back over your blog. Thanks :)

By: Nunzio Bruno

Nunzio Bruno — Thu, 03 Feb 2011 02:18:43 +0000

Great Job This Month! I always love to see your updates and isn’t it amazing when you are credit free :) I also got a chuckle out of the increased value of your vehicles, but hey an increase in value is absolutely an increase in net worth. I should totally start posting my changes from month to month at Financially Digital

By: JT McGee

JT McGee — Wed, 02 Feb 2011 19:46:13 +0000

I’m in the “who cares about home prices” camp as well. Until you sell it, which may be many years away, that home is a negative cash flow asset. As far as financial instruments go…that makes it virtually worthless.

Plus, homes tend to appreciate/depreciate as fast or as slow as virtually every home in your area. It isn’t common that you can sell a home, and buy the same home but for cheaper down the street, locking in a profit. Any gain is just eaten up by the rising price of the home you’d purchase next.

By: J. Money

J. Money — Wed, 02 Feb 2011 18:17:20 +0000

That’s a good way to think about it :) Tracking your net worth is really only for YOU, so if you’re not comfortable with the way you’re doing things it doesn’t make sense. Keep rockin’ it!

By: retirebyforty

retirebyforty — Wed, 02 Feb 2011 18:09:50 +0000

Hey J$,
The net worth is looking great considering you gave up the 9-5.
I don’t mess with the home value all that much either. We are not planning to sell anytime soon so I just pick a number that I’m comfortable with. :)