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How often do you check your net worth?

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  • #16
    I used to only check each quarter when my financial statements arrived, but now with online access I find myself checking nearly everyday.

     

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    • #17
      I admit, it's hard not to check. But, if you're using Excel to track it frequently, I'd suggest adding a couple of formulas to make your current net worth more meaningful by translating it into an estimated retirement paycheck.  It's two steps:

      1. Take your current net worth and carry it forward by a conservative rate of return for the number of years until your planned retirement.

      2. Take that final number and adjust it for inflation.

      3. Take 4% or 5% of that final inflation-adjusted number to estimate the annual income (in current dollars) you could draw from your future nest egg.

      That will provide some context through which to look at your net worth, allowing you to track your progress toward financial independence.

      Feel free to direct message me if you'd like an Excel document with these formulas.

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      • #18
        Monthly, using a spreadsheet (Numbers on Mac)

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        • #19
          Monthly.....

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          • #20
            I plug numbers from all of our accounts into a spreadsheet every 2-4 weeks.
            Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

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            • #21
              ?
              Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

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              • #22




                It’s a hassle to log into the websites of multiple financial institutions to assemble our liquid net worth, but I’m wary of providing all of our passwords to a single aggregator.

                None of you share that concern?
                Click to expand...


                Every single account I have has a unique maximum allowed password randomly generated, so a hack on my end would probably be not very fruitful.  So, if somehow, mint or personal capital got hacked, and their multiple levels of security was breached, then the hackers would have passwords.  However, I run 2-step authentication on all our financial websites, so again another layer of security.

                Finally, if they decide to use our credit cards, those are protected from fraudulent purchases.  No hacker can withdraw $$ from retirement accounts instantly, so not concerned there.  Bank accounts I guess would be my biggest worry, but I don't have a debit card, so maybe the hacker could transfer $50k someplace..

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                • #23
                  I record it once a year but I guess I check it periodically when I update the spreadsheet to see where new investments need to be directed.
                  Helping those who wear the white coat get a fair shake on Wall Street since 2011

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                  • #24




                    I get paid monthly, so I check it monthly using mint.com.  My excel spreadsheet has a tab for end of year net worth that I plan to record on an annual basis from now on.  I was using mint for historical lookups but it is all screwed up these days and only good for the moment I check it.
                    Click to expand...


                    This post is nearly as old as the forum but I'll give an update. I've completely dropped mint.com for net worth monitoring. Check net worth most days using personal capital but I'm going on 3 years of a simple once a year January 1st calculation in excel for historical perspective. Personal capital fluctuates the value of my house wildly so I try to keep the net worth estimation on the conservative side.

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                    • #25
                      every month that we reconcile bills on quicken.  It shows right at the bottom.  I'm kind of surprised on how many folk don't use quicken as it automates bookeeping with banking and investment quite well all together.

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                      • #26
                        Twice a year.  Wish I had done it more frequently leading up to hitting certain milestones.  I use Excel for everything.  Either I don't trust the accuracy of these aforementioned apps or I don't trust their security.

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                        • #27
                          I'm also twice a year using Excel. Mostly to see if I need to rebalance. Once we reached FI, our net worth just became "a big number", and checking to see if it was "a bigger number" or not each month seemed a bit pointless. Although we are still contributing to our retirement and taxable accounts, most of change in our net worth is now due to factors beyond our control such as market performance.

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                          • #28
                            Not very often now that retired. Keep an eye on various accounts but don't aggregate them formally.  When I was in the accumulation phase, especially when I was really piling it on, I did the additions every couple of months with networthIQ and excel but last few years has been once a year at most.  Perhaps if markets were down I would be paying a closer attention.

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                            • #29
                              Most of my investments are at Vanguard so I'll check once monthly when making contributions to the taxable account

                              Used to use both Mint and Personal Capital but paranoia got the better of me. That and they both aren't great at tracking the real estate portion of our net worth

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                              • #30
                                I currently track my net worth once a month via a spreadsheet in excel.  However, I follow my investment accounts daily in Vanguard.  I tried personal capital once, but I was annoyed by the fact they started calling me trying to sell me their services, so I deleted my account.  I also don't trust the security at these places (mint, personal capital).  It seems to risky to me to give one company ALL of my financial information, account numbers, passwords, etc.  I'm sure it's only a matter of time before one of them gets hacked too.
                                I used to use mint too, but again, the security issue freaks me out a bit too much.

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