Comments on: June 2008 Net Worth Update (+2.09%)

By: Jordan Clark

Jordan Clark — Tue, 01 Jul 2008 07:55:57 +0000

I’ll throw in my $0.02 for full monthly updates. I disagree that it’s over kill, I’ve started tracking my family’s networth monthly as we do the month end budget check-in and file away bills and receipts.

As a reader I also like that the monthly stats gives me a reference if I want to compare any specific month.

If you have the information easily available I’d even say it’d be great if you could post your current asset allocation or even the actual equities held in your investment accounts.

By: FrugalTrader

FrugalTrader — Mon, 30 Jun 2008 21:49:50 +0000

Good points there guys. Boston, perhaps I can do the monthly updates on my own, but only post them once every two months.

Perhaps it’s time for another poll.

By: Boston

Boston — Mon, 30 Jun 2008 20:52:11 +0000

I would have to disagree with Dividend Growth Investor and john. I think monthly updates are essential and key to solid financial planning and networth growth. I personally review my expenses and income on a weekly basis and then create a personal income statement and balance sheet on a monthly basis. I find the more time I spend managing my money, the faster my networth grows. However, I only look at portfolio reallocation twice a year to see if I need to re balance my holdings.

By: Dividend Growth Investor

Dividend Growth Investor — Mon, 30 Jun 2008 20:24:28 +0000

Good job on the increase in net worth. I do think that if you are in it for the long run even quarterly updates are prone to “noise”. Maybe an annual report ( just like Warren Buffett) would be best..

By: Canadian Dream

Canadian Dream — Mon, 30 Jun 2008 20:11:47 +0000

FT,

WOW! Good job. Nice to see one of the PF bloggers net worth is up this month.

I know about the house sucking up money. My backyard has sucked about about $1300 so far this summer and I still owe $1000 for the hardwood that I’m installing later this summer.

I agree the net worth monthly might be a bit too much. I like the idea of alternating between net worth and smith updates.

Just my two cents,
Tim

By: The Reverend

The Reverend — Mon, 30 Jun 2008 19:33:55 +0000

Impressive month. Increased your net worth by over 6k while markets were down.

I close out my net worth statement after last day of month but its looking like I might be breaking even with the way markets have moved the last week or so.

By: The Financial Blogger

The Financial Blogger — Mon, 30 Jun 2008 19:18:43 +0000

Hey FT,
I see that you decided to double your SM investment. Are you planning on putting more money into the market later on this year or are you keeping it at 50K?

By: FrugalTrader

FrugalTrader — Mon, 30 Jun 2008 17:50:26 +0000

john, yes I do think about that often. I asked the readers a little while back and they mentioned that they enjoyed the monthly updates. Perhaps I will do the SM portfolio updates and net worth updates on alternate months.

By: moneygardener

moneygardener — Mon, 30 Jun 2008 17:35:08 +0000

the MDJ train keeps on chugging…..

john’s point is why I do mine bi-monthly. While I don’t find 1-month updates to be over analyzing, I find that within 1 month markets can swing and one time gains and losses can show a greater affect than they actually had.

By: john

john — Mon, 30 Jun 2008 17:13:07 +0000

Do you ever worry that by reviewing your finances every month, you may be over analyzing them? If you are really in it for the long term, maybe quarterly is enough