Do You Know Your Approximate Net Worth Without Looking At Records?

L

Lon

Well-known Member
Location
Central California
ASSETS MINUS LIABILITIES EQUALS NET WORTH. Are you happy or concerned about your Net Worth and is it going up or coming down as you age?
 

Um, a nice refrigerator box and stolen cat food?
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I know it very well. Have kept a monthly summery for over thirty years. That's largely why I am comfortable with where I am now. It takes very little to make me happy. At this point I am treating my assets as my son's inheritance. I still have the final say, but I consult with him about how much money he wants to put into the house for repairs or improvements, or whether he thinks I should put some money back into the market.
 
At this point I'm worried about ending up in some roach infested apartment in old age. No matter how hard I've worked.
 
Kitties...we could two boxes together, duct tape for insulation, Callie would keep us real safe. We could take turns jacking yummies at the supermarket...simple but it would be home;)
 
Shalimar said:
It isn't enough to be frugal with one's money in order to save for old age. The paychecks need to be large enough also.
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Absolutely, Shali. You can't set aside money if there's no money left to set aside. If only people would stop spending money on silly things like food and shelter, they would be in great shape.
 
We have been fortunate over the year to have had decent jobs that allowed us to save for an early retirement. I did well in the last several years of my employment. We were always good about saving, right from day one of our marriage. I have a good idea of my net worth, enough so that I'm not concerned at this point about outliving my savings. I go to my investment account periodically to see where things are. I've had a financial planner managing the funds for some time and the projections built into our rather conservative plan look good. I frankly was stunned when I saw where he projects us to be once social security and medicare come into the mix. I never take for granted how fortunate we are to be in this position at this stage in our lives.
 
fureverywhere said:
No sadly it isn't...I'm thinking three refrigerator boxes, then there would be a guest bedroom...
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I hear you, Furry. We started out 400. in debt with a bed a borrowed table and two chairs. Lived in a roach infested apartment for thirteen years. Bought our house with our last dime. Managed to keep it the rest of our lives, but there were those times when a lost job would put everything in jeopardy. Living on the razor's edge is not a lot of fun. For us, a solution always seemed to arrive in the nick of time. Trouble is, you could never see it ahead of time. I hope you find yours.
 
Thank you Under...right now the prayers and vodka...it's his parents house, paid but the taxes obscene...the refrigerator boxes more than we can hope for...crap.
 
Sure I do. I've been handling the finances of DH and I for almost 40 yrs. I've got a constant running total in the back of my mind. We're spenders and never made as much $$$ as most of our friends and family. But I ended up inadvertently learning, during a varied career, about risk mitigation and profiling, investing and most importantly, planning properly.

We were able to take early retirement as planned, right when the crap hit the fan in early 2010. Did the planning for my MIL as well, after her DH died, so she was financially set for life (which relieved us of a lot of worry!).

We've had both bad luck and good luck over the years. We credit good planning with allowing us to take advantage of opportunities that were a budget stretch at the time, but now that we're in retirement, we can take comfort in knowing an increased sense of financial security. No matter what happens we've lowered our physical/financial risks as much as we can, to face an uncertain future.
 
jujube said:
I live in a hurricane state.....I'm moving into a dumpster. I actually saw a television show where a guy turned one of them into a tiny house. It could be rolled around the streets so you had different scenery every few days.
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I guess it could work if you could wash it out real good to get rid of the garbage smell. :)
 

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