Net Worth Tracking, Support, Celebration!

Because it’s just end-of-year net worth data, it doesn’t have month-to-month. :slight_smile:

I also like @AllHat’s charity “net worth” idea… that’s pretty fun.

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TBH I think I might have stolen that idea from someone on MMM! I remember reading someone’s journal who gave an incredible amount of money to charity and I was super inspired and more than a little embarrassed at how little I was giving (relative to my income). I wish I could remember who it was! I think they used that term, or at least tracked their cumulative giving in some way.

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Probably PAWG

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Was that… what was her name. Teacher Alex or something? She lived in Hawaii and donated a lot to charity.

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EnglishteacherAlex?

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Oh yes! I think it was a woman living in Hawaii and that name sounds right!

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Pretty tracking!!! I should do that in a notebook too. I’m always looking for an excuse to have pretty notebooks and pens. Also it’s really cool your company does a donation match.

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I also keep a lot in cash….around $50k because it helps me sleep at night and I invest the rest (no house). However, I definitely also count our Roth as part of the ‘second phase’ of the E fund since we can access the contributions without penalty. That is sort of what I was talking about and why I’d be surprised by people doing taxable before filling their pre tax accounts.

IMO if the money might be needed for an emergency, then it shouldn’t be in the market, and if it isn’t needed, then it should be invested in the most efficient way which in my mind is not the taxable account. But there is always someone whose circumstance is the exception…

And no, you cannot have a joint Roth IRA, they have to be in one name only. But they’re really easy to open with Vanguard.

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I just realized I don’t track our uninvested cash or consider it when I think about our net worth. Weird. I also don’t consider the house in that calculation.

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I include my house in my net worth because it makes the numbers way better. :rofl: I do not track anything, but I know close numbers. I do pay attention, I just don’t do spreadsheets or anything.

IRA 158k didn’t start until age 30, never made much until the last 5 or so years. I’m 51 now, and way behind where I should be, but I’m actually kind of amazed that I even have what I do. I did not go into a high paying field, and didn’t grow up with much money, so I suppose I just never expected to have a lot if that makes sense.

Paid off house, realistically worth $150k, so I use that when I think about it, but if I sold today it would of course be some ridiculous high number.

Checking and savings 38k

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If I ever start tracking my NW, I like the idea of tracking charity over time. My goal is 10% or more to charity. I set up automated donations for this year that hit most of that, and I like how easy and painless it is. I have one offs as well. It might take a little bit to hit the percentage when I increase my income and start daycare, but I want to keep the habit. It also helps me to make sure I’m including those funds in my future planned spending.

Do you give yourself interest on charity NW?

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I don’t, I just add up whatever I donate each month. I guess if people have charity investment accounts that might make sense? I’m not that baller… yet, hahaha.

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This seems like a good place to share that I just crossed $300k net worth. I hit $200k at the end of July 2020. So my net worth has gone up over $100k in 11 months. I make around $70,000/yr. Compound interest is a mind-blowing thing. Like, I know the market is doing really well right now but the idea that my net worth could be increasing faster than my total income just breaks my brain a little.

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Congratulations!!!

That’s so awesome! I know what you mean about net worth growing faster than your salary; we just passed into that territory in the last year and it’s surreal but so awesome.

Anyway, here is your trophy:

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Something fun (“fun”) I’ve keeping an eye on: watching my fake Mint net worth go back and forth across the -$500K line. It’s connected to all of my personal accounts, including my last grad school student loan and retirement account, our shared savings + mortgage, but not any of my wife’s individual accounts.

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This inspired me to add the house, which is allegedly worth $30K more now than what we bought it for two months ago. It’s not anything I’ll use for any decisions, but kinda fun to see.

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I started that taxable account, decided on investing $10k instead of $15k since we are buying a car soon, and I have already made 4 cents. Blammo! Thanks for the advice/feedback y’all!

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My networth went crazy this year, I dont have my spreadsheet further back than 2016, its all in Aussie dollars

Dec 2016 - $217878
Dec 2017 - $241310
Dec 2018 - $302612
Jun 2019 - $341175 (I started tracking it end of Financial year instead of calendar year)
Jun 2020 - $346546
Jun 2021 - $528968

networth

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Woah, that’s beyond epic! Congratulations! Did you increase your salary or something?!

Here is your trophy:

iu

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I left a job (September 2020)and got paid out a bunch of leave, and got a smallish payrise. Plus my shares have gone really good this past year. I have increased my salary a bit again when I started a different job this month. So hopefully I can have another good year

My networth is probably higher than that as I haven’t factored in housing prices increases.

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My current spreadsheet only dates back to 2016, when I stopped working. Here’s the general trend.
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I started out at zero and stayed there for many many years then suddenly became a solvent, then profitable human. It has been bewildering.

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