Looking over my blog, I just realized that I've neglected to do a net worth calculation. Uh, yeah ... scratch "neglected", I've been absolutely mortified to punch out a number. Guess I'd better get this over with.
While I'm not sure what the accepted practice for figuring out my net worth is, I'll follow my hunch for now and wait for feedback. Here we go:
Today's net worth
Assets
Cash (checking & savings): $2,806.04
Investments: $46,232.44
Property (home & autos): $177,500.00
Liabilities
Consumer debt: $26,462.05
Mortgage debt: $161,227.68
Net worth: $38,848.75
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I'm surprised. I seriously thought that the value would be negative. On the other hand, I'm a little bit disappointed that even if my consumer debt was eliminated today, my net worth would barely surpass one year's income. Time to get more motivated.
Net worth ver. 1.0
May 5th, 2011 at 07:12 pm
May 5th, 2011 at 07:17 pm 1304623039
I have a love-hate relationship with the net worth. I had a very inflated one, prior to the popping of the real estate bubble. Primary residence was valued at $525K at the highest point, and the secondary residence was valued at $330K. With the burst of the bubble, I went to a realistic $350K and $200K. The only consolation with each $1,750 mortgage payment that we make is that the equity is building.
Remember that each payment you make on credit cards and mortgages moves you more toward the positive.
May 5th, 2011 at 07:29 pm 1304623749
Our net worth has struggled recently with the stock market and falling home values. Meaning: lots of savings but no net worth progress for about 3 years? But I think tracking our net worth is still meaningful - and reminds me why I wouldn't put all my eggs in one basket!
May 5th, 2011 at 07:56 pm 1304625364
May 5th, 2011 at 11:39 pm 1304638783
May 6th, 2011 at 10:43 am 1304678638
May 6th, 2011 at 11:58 am 1304683127
Glancing over networthiq.com, I was initially shocked to find that so many people in my age range were making six figures. Then, I realized that the sort of people that care enough about their net worth to participate with the site would probably make above-average wages.
Thanks for the heads up.
May 6th, 2011 at 01:16 pm 1304687794
May 6th, 2011 at 01:20 pm 1304688015
Weird find! Would love to hear the story on how/why HP acquired that domain name.
June 16th, 2011 at 01:52 am 1308189164
www dot vertex42 dot com/Calculators/net-worth dot html