Happy New Year(Net Worth Statement Time)

[maat55]

Happy New Year all. How many of you are looking forward to updating your net worth statement?

I've got a little good news on some fronts but it's those pesky investments that will rule the day.

I suggest a soft chair and a box of tissue. Good luck.

[disneysteve]

Happy New Year to you, too. I started on the year-end numbers yesterday. They aren't pretty, but I already knew that. I've been updating them regularly.

Here's hoping for a more successful 2009.

[GREENBACK]

Happy new year to everyone here. I haven't kept as close an eye on my net worth as I probably should have the last couple years. I think that is something I'll make a point of doing this year.
I'm becoming more and more used to seeing my #'s being down so I just realistically look at the future possibilities. I really feel the resiliency of people will cause things to turn around at some point this year or early next year.

[jIM_Ohio]

net worth would include home equity right? So if value of home went down, you lose the equity... right?

I don't track net worth much... but maybe I'll add it up when I do IRR calculations soon.

[aida2003]

Happy New Year to you all! I hope this year I'll be getting some bargains again though it's painful to see almost everything to be in red.

Jim,
Do you do everthing in Excel manually? Just curious because you mentioned IRR.

[Ima saver]

I haven't done mine yet. I was doing it monthly, but these last few months have really brought down my mutual funds. (and stocks)

[minnie1928]

I opened my 401k stmt for the first time since June...good thing I was sitting down. My personal rate of return was -48% for 2008! Thankfully I won't be needing this money for quite some time.

I keep my net worth in Quicken and update things periodically. However, I don't update house values (gain or loss). Stocks update daily, but 401ks are done whenever I feel brave enough to open the statement...which hasn't happened often in 2008.

All in all, our net worth has improved in large part due to eliminating our debt so I can't complain too much.

[Snave]

I have no intention of doing it for a while. I could make a quick guesstimate off the top off my head based on my accounts, but really don't care to even do that. I have made a few changes in my accounts to re-distribute funds, but see no need to run my networth at this time. I have 25-30 years until retirement, so skipping this year doesn't matter to me.

[cptacek]

Our net worth went up this year. We do net worth statements each year for the bank, and last year we were around $220,000 and this year, we are at $269,000. Of course, $55,000 of that is tied up in land and the house, and $33,000 of it is tied up in bales / grain to feed the cows this year. We count the farm vehicles towards the net worth, but not my personal vehicle. Taxable mutual fund, Roth IRA, and IRA all went down, but 401k went up because I kept contributing.

[maat55]

I haven't done mine yet. I was doing it monthly, but these last few months have really brought down my mutual funds. (and stocks)

I was doing it monthly also until the market plunged, so I decided to do it the first of the year only, until the market starts going up again.

[srblanco7]

I sat yesterday morning and worked thru the numbers. If I didn't have a headache from the night before, I certainly did after I totaled up the numbers.

On the upside, I noted that the allowable 401k contribution had increased to $16,500 for 2009. And I closed the year by adding contributions for DW and I to our Roth IRAs to max them for the year.

Here's to an improved 2009...

[yellow heel]

Well, I just crunched the numbers yesterday and it was not so pleasant.

Short term liquid funds increased around 25%.

Long term (mutual/bond) funds decreased around -25%.

Overall my net worth was down 5%... May better things come in 2009!!

[ceejay74]

I just checked--my household's net worth increased $17,218 (a 26.7% increase, which speaks more to my pathetic financial situation than to my skills as a saver). Considering we paid off over $35K in debt and allocated at least 5% of our salary (about $7K) to 401(k)s, it's pretty crappy! The biggest hit came when I reassessed my condo value this fall, and realized it was probably worth $12K less than the number I've been using for my net worth calculations.

[jIM_Ohio]

Happy New Year to you all! I hope this year I'll be getting some bargains again though it's painful to see almost everything to be in red.

Jim,
Do you do everthing in Excel manually? Just curious because you mentioned IRR.

Aida- I will be filling in my excel sheet in a few hours with year end balance information for 2008. The IRR formula is already there and it will give me my numbers. I won't know deposit information for the 401k accounts until a few weeks later sometimes.

[GREENBACK]

Along these lines. I've heard that a pension should not be counted as part of your net worth. Can anyone explain that or is that just a rumor?