How often do you check your net worth?

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EdNorton
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How often do you check your net worth?

Post by EdNorton » Fri Mar 29, 2019 9:01 am

I normally do it every Saturday, then decide if we go to a nice restaurant or dive bar for burgers. Nothing wrong with dive bars.
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leeks
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Re: How often do you check your net worth?

Post by leeks » Fri Mar 29, 2019 9:03 am

I review all our accounts and update a simple excel sheet summary of our finances monthly.

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midareff
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Re: How often do you check your net worth?

Post by midareff » Fri Mar 29, 2019 9:05 am

When I tap the M* saved page on my device after 6:30 PM it brings me my portfolio with the days results. I try not to look for new results on Saturday and Sunday evenings.

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Re: How often do you check your net worth?

Post by Shallowpockets » Fri Mar 29, 2019 9:06 am

I tend to check it whenever there is a big point gain or drop in the market. Not necessarily a one day drop/gain, but perhaps if the month is down/up.
I feel this gives me some of the highs and lows of my assets. Sort of a bracket. Delighted to find the highs, and OK with the lows in respect to not being as bad as it may have seemed.

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Aptenodytes
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Re: How often do you check your net worth?

Post by Aptenodytes » Fri Mar 29, 2019 9:08 am

Liquid retirement accounts, monthly
Net worth, yearly

caffeperfavore
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Re: How often do you check your net worth?

Post by caffeperfavore » Fri Mar 29, 2019 9:09 am

I update my spreadsheet at the end of each month. If the markets are down I skip it until the next month. (Stay the course, no market timing, buy and hold and all that.)

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Re: How often do you check your net worth?

Post by RadAudit » Fri Mar 29, 2019 9:11 am

Net worth? Hardly ever. Can't get a good current figure on the value of the house.
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EdNorton
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Re: How often do you check your net worth?

Post by EdNorton » Fri Mar 29, 2019 9:14 am

I might add, I'm in the process of converting to a 3-4 fund portfolio, not a complete BH. Still have 40% of net worth in individual stocks. Slowly converting to VG funds.
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Re: How often do you check your net worth?

Post by bloom2708 » Fri Mar 29, 2019 9:16 am

I go into Personal Capital about 1 time a week and categorize transactions.

I have everything relevant in there and it is a reasonable Net Worth tracker.

We don't list small stuff as assets. Phones, tablets, PCs. Just the big stuff and all financial related accounts.

So I guess the answer is every time I log into Personal Capital.
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PaddyMac
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Re: How often do you check your net worth?

Post by PaddyMac » Fri Mar 29, 2019 9:18 am

I have a spreadsheet that I update at the end of each quarter, which started as an Apple Numbers template. I calculate all saving accounts in the Assets tab, which is my main interest. In Assets, I had to build a more complex spreadsheet so I would track growth/loss over the year, and then another table where I store the balances from previous quarters. I also update Liabilities (mortgage balance) and that flows out to the front page, Net Worth. There, I also added another table to track Net Worth over time. But the template is a good start if you have Numbers.

pdavi21
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Re: How often do you check your net worth?

Post by pdavi21 » Fri Mar 29, 2019 9:20 am

Often. I track net worth growth annually though. Really it just gets updated when I run my AA.

To the above: why not use Zillow neighborhood growth rate, or the rate of inflation as a multiple to adjust your home price? Or just leave it the same for awhile...if your housing market tanks, it might not grow over a few years+ anyway.
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Re: How often do you check your net worth?

Post by Jack FFR1846 » Fri Mar 29, 2019 9:25 am

My net worth is tracked in my home made excel spread sheet with all my investments in it. I check it maybe twice a year, just to see if I remember where it is on my spread sheet. I should reword that. I look at it twice a year. It's a meaningless number, so I'm just looking to see that it's updating correctly.
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Re: How often do you check your net worth?

Post by barnaclebob » Fri Mar 29, 2019 9:29 am

I record it once a month but will put the numbers in sooner at paychecks sometimes.

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Re: How often do you check your net worth?

Post by Smoke » Fri Mar 29, 2019 9:31 am

Never, it is what it is.
Arguing for the sake of arguing is something I am not going to engage in.

dayzero
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Re: How often do you check your net worth?

Post by dayzero » Fri Mar 29, 2019 9:32 am

Probably about 10-20 times per day if the market is good. A bit less if it's bad but still I need to look for TLH opportunities pretty much every day. Portfolio and NW are rolled up together in one doc.

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goingup
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Re: How often do you check your net worth?

Post by goingup » Fri Mar 29, 2019 9:39 am

Net worth? Maybe once a year I'll look at property values on Zillow/Redfin. Investable assets I peek at frequently (regrettably). :D

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Kenkat
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Re: How often do you check your net worth?

Post by Kenkat » Fri Mar 29, 2019 9:41 am

I generally process transactions and pay bills once every two weeks in Quicken, so I see it in the side panel but don’t pay that much attention to it. I tend to look more at changes in my cash accounts and investment / retirement accounts, although even those are more in passing. I do check my investment accounts daily just to see what the market did, but I probably only look hard at net worth once or twice a year.

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Re: How often do you check your net worth?

Post by LadyGeek » Fri Mar 29, 2019 9:41 am

This thread is now in the Personal Finance (Not Investing) forum (net worth).
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Re: How often do you check your net worth?

Post by jebmke » Fri Mar 29, 2019 9:42 am

Once a year I do a one-page "financial statement" -- income, taxes, other expenses and assets and we go over it.
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Re: How often do you check your net worth?

Post by littlebird » Fri Mar 29, 2019 9:42 am

Annually.

Trader Joe
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Re: How often do you check your net worth?

Post by Trader Joe » Fri Mar 29, 2019 9:43 am

EdNorton wrote:
Fri Mar 29, 2019 9:01 am
I normally do it every Saturday, then decide if we go to a nice restaurant or dive bar for burgers. Nothing wrong with dive bars.
Once a month.

LiterallyIronic
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Re: How often do you check your net worth?

Post by LiterallyIronic » Fri Mar 29, 2019 9:45 am

On the first of every month. I simply check the balance of checking, savings, 401k, IRAs, get the current Zillow estimate for my house value, and check how much I owe on my mortgage. Throw it all in a spreadsheet that has been graphing net worth monthly since 2012.

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AerialWombat
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Re: How often do you check your net worth?

Post by AerialWombat » Fri Mar 29, 2019 9:54 am

I update my net worth spreadsheet maybe once every six months. It’s a fairly meaningless number for my situation, because the value I assign to my two privately held business ventures is at best an educated guess. On the real estate side, the fair market value of my properties, while a much more accurate estimate, is still just an estimate.

My net worth right this second is somewhere between $500k and $1.8 million. The latter is a formal balance sheet accounting number, the former is probably closer to reality because I really don’t think anybody would actually buy either of my businesses.

What matters most to me is monthly cash flow. Passive, semi-passive, and active. When passive + semi-passive > my desired amount, I’m putting myself out to pasture.

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runner3081
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Re: How often do you check your net worth?

Post by runner3081 » Fri Mar 29, 2019 9:56 am

Currently, once per month.

However, now that things are bit more settled, I am going to go every-other-month.

I do, however, check both bank accounts and credit cards on a daily basis.

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John151
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Re: How often do you check your net worth?

Post by John151 » Fri Mar 29, 2019 9:58 am

I check my investments once a week and update my spreadsheet once a month.

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Re: How often do you check your net worth?

Post by stoptothink » Fri Mar 29, 2019 9:59 am

I normally update everything quarterly and share it with my wife, but recently I've come to the realization that the time and worry I spend regarding my finances is probably not a good thing. If we didn't have a significant increase since last quarter I usually get a bit worked up, and it is totally out of our hands because all our saving is automated. We are extremely financially stable, so what's the point? I turned 38 two weeks ago, I vowed not to do it again until my 40th birthday. We better be well past the 2-comma mark by then.

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Re: How often do you check your net worth?

Post by DetroitRick » Fri Mar 29, 2019 10:01 am

I see it daily, just because it's a by-product of my daily Quicken updates. No time involved, it's just there on the screen. For me, the actionable stuff (like moving money, asset allocation adjustments, spending modifications, etc.) is based on the details. Were it not this easy, I'd probably just check it monthly for the sake of cash-flow planning.

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Re: How often do you check your net worth?

Post by oldcomputerguy » Fri Mar 29, 2019 10:04 am

The calculation of our net worth is a in separate tab on the spreadsheet I made up to track our portfolio for rebalance purposes. I update the holdings on the spreadsheet once a month, after I download statements. I can't really say how often I look at the net worth tab, though; probably no more than twice a year, if that. I'm not sure what relevance it has to my day-to-day life.
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Re: How often do you check your net worth?

Post by renue74 » Fri Mar 29, 2019 10:05 am

caffeperfavore wrote:
Fri Mar 29, 2019 9:09 am
I update my spreadsheet at the end of each month. If the markets are down I skip it until the next month. (Stay the course, no market timing, buy and hold and all that.)
+1 Haha...I do this to.

I have a HUGE spreadsheet with portfolio, retirement calculator (using future value functions + SS + pension), and real estate valuations.

If it's a bad day, week or month, I tend to not look at the google sheets at all.

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Re: How often do you check your net worth?

Post by truenorth418 » Fri Mar 29, 2019 10:09 am

I have a google spreadsheet linking to quotes in real time, so I can check my net worth and all my positions any time I want. If I’m bored, I check it too often. If I’m busy, I ignore it.

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Re: How often do you check your net worth?

Post by JohnFiscal » Fri Mar 29, 2019 10:12 am

well, I do it daily. Yes, it's overkill.

But I have everything in a large Excel workbook. All I have to do is "click" one button on the main Summary page to update and report.

I've programmed it to grab the latest closing prices for the mutual funds I own (no individual stocks) from a Google Sheet and pop them into my Excel workbook. Then everything is updated automatically.

The reported net worth includes daily changes to checking accounts, savings, new credit card charges, etc. And house value if I have updated it from Zillow (well, actually, for net worth considerations I carry it on the books as simply the price that I paid 8-9 years ago, probably a realistic "net" return if sold, once considering the work/cash needed to put in selling condition, realtor's fee, etc)

The daily reported net worth (and Dow closing, etc) is saved to a hidden worksheet for any later review... there's a graph as well.

I "publish" this once a month... publish the Summary sheet to pdf saved in the "Net worth" folder. And I might print it out to read while watching television on the sofa. Sometimes I "check" the option in my Excel file to email the pdf report to my wife as well.

Yeah, I guess I had a lot of time on my hands. But it's taken me years to get it to this point.

ETA: having it automated certainly makes it a lot easier. I also use some programmed routines to update the monthly transactions from Vanguard (dividends, gains, reinvestments). It got to be a HUGE pain on the months (quarterly), and year-end especially, when there would be close to 20 or more individual transactions spread across multiple account types (my IRA, my Roth, wife's Roth, joint, inherited IRA) and different funds in these accounts (we only have 5-6 different stock and bond funds but it's complicated due to the account ownerships). I used to get so frustrated updating these transactions by hand once it got so complex.
Last edited by JohnFiscal on Fri Mar 29, 2019 10:29 am, edited 1 time in total.

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Re: How often do you check your net worth?

Post by mak1277 » Fri Mar 29, 2019 10:14 am

LiterallyIronic wrote:
Fri Mar 29, 2019 9:45 am
On the first of every month. I simply check the balance of checking, savings, 401k, IRAs, get the current Zillow estimate for my house value, and check how much I owe on my mortgage. Throw it all in a spreadsheet that has been graphing net worth monthly since 2012.
Pretty much this exact process, although I've stopped updating the value of my house since it was paid off. I don't consider it part of my "investable net worth" anyway so it's its own category.

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Re: How often do you check your net worth?

Post by Sandtrap » Fri Mar 29, 2019 10:15 am

Never.
But, I always have it in the back of my mind.
There's not that much to tally up, and IMHO being too conscious only adds to the "noise".
Having a sound IPS and a good strategy and protocols puts things on autopilot.
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Will do good
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Re: How often do you check your net worth?

Post by Will do good » Fri Mar 29, 2019 10:19 am

Jan 1st and July 1st.

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Re: How often do you check your net worth?

Post by lostdog » Fri Mar 29, 2019 10:21 am

I record it once a month.

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Re: How often do you check your net worth?

Post by RickBoglehead » Fri Mar 29, 2019 10:24 am

Weekly, but account totals, not net worth. Enter into a spreadsheet broken down to non- retirement, retirement, 529s(removed from total). Includes market indices, all numbers compared to peaks.
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Re: How often do you check your net worth?

Post by michaeljc70 » Fri Mar 29, 2019 10:32 am

I have everything in Quicken and generally download daily to get bank/credit card transactions and of course I glance at it since it is right there on the screen. If it wasn't for that, I'd probably check monthly just out of curiosity.

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Re: How often do you check your net worth?

Post by Texanbybirth » Fri Mar 29, 2019 10:42 am

I'm not really even sure how to calculate our "net worth", let alone how often to do it. I keep track of our cash, credit card balances, and investment/retirement accounts on a weekly basis. I don't worry about the value of our house, as we have no way to get to it and no plans to move.
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Re: How often do you check your net worth?

Post by bloom2708 » Fri Mar 29, 2019 10:46 am

Texanbybirth wrote:
Fri Mar 29, 2019 10:42 am
I'm not really even sure how to calculate our "net worth", let alone how often to do it. I keep track of our cash, credit card balances, and investment/retirement accounts on a weekly basis. I don't worry about the value of our house, as we have no way to get to it and no plans to move.
Everything you own - everything you owe.

If your house is worth $750k and you owe $250k, that is $500k (before fees) of net worth. You may not have any plans to sell your house.

But maybe 20 years down the road, the house is worth $900k and you paid off your mortgage. I think you want to "see" that as part of your net worth.

You could sell, pay the fees and rent for 150 years or so. :wink:
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Re: How often do you check your net worth?

Post by dziuniek » Fri Mar 29, 2019 10:47 am

Eeeh... daily. :)

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Re: How often do you check your net worth?

Post by FootballFan5548 » Fri Mar 29, 2019 10:55 am

I update a spreadsheet on the last business day of the month every month, just to keep a running tally and watch progression. The spreadsheet is just investments and bank accounts, no mention of mortgage or any other debts.

I log into Personal Capital regularly, usually every night as I'm putting my kids to bed just to check how the day was. Personal Capital includes mortgage, credit cards, etc so it's a "true" net worth picture.

Nicolas
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Re: How often do you check your net worth?

Post by Nicolas » Fri Mar 29, 2019 10:56 am

Quarterly. I’ll be tabulating it this weekend.

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Re: How often do you check your net worth?

Post by Bacchus01 » Fri Mar 29, 2019 11:00 am

I do a “formal” review at the end of the month. I sometimes check it as I’m paying bills as I record all that in Quicken. I usually update real estate values (we own three) once a year. I update auto values a out twice a year. I download all transactions from banks etc. several times a month when I’m paying bills or moving money around.

I record the asset allocation on a separate spreadsheet about once a month in order to look at certain ratios that Quicken doesn’t easily give me.

I update net worth on that same spreadsheet monthly and create a projection.

Annually I produce a simple report that my wife and I walk through. It includes investments, returns, proejections for the future, and expenses.

Honestly, she listens to about 5 minutes and then says something like “let’s go to dinner.” The fact that I do it is her confidence check that all is in order and we are fine and then she doesn’t care about the details. I do.
Last edited by Bacchus01 on Fri Mar 29, 2019 11:02 am, edited 1 time in total.

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Re: How often do you check your net worth?

Post by mnsportsgeek » Fri Mar 29, 2019 11:00 am

Once a month I go in and check what my investment account balances are and update them in YNAB. I don't bother including any assets that aren't money.

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hand
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Re: How often do you check your net worth?

Post by hand » Fri Mar 29, 2019 11:02 am

Net worth isn't terribly actionable to me, and difficult to calculate, but I try to summarize investable assets (and their retirement implications) a couple times a year ~quarterly. I look more in up markets, and less in down markets in hopes of limiting poor behaviors.

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Re: How often do you check your net worth?

Post by acegolfer » Fri Mar 29, 2019 11:03 am

Whenever I open quicken to update transactions, which is once every quarter. I set up all the asset/liability properly (including home equity) so that quicken will automatically calculate net worth and show it in the home page.

Often, I don't look at the net worth value and close quicken. If someone asks me what my NWT is, I can't remember. If I do look at NWT, I check YTD NWT and YTY NWT, which also appears in quicken homepage. (I sound like I'm a quicken advocate. But I'm not. I'm trying to replace quicken with a spreadsheet.)

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Re: How often do you check your net worth?

Post by WhiteMaxima » Fri Mar 29, 2019 11:08 am

I do check. I found there is always hidden treasure such as home equity (wish I was a renter :D ).

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Re: How often do you check your net worth?

Post by dcabler » Fri Mar 29, 2019 11:09 am

I get up early on Saturday mornings and log into each account and update my tracking spreadsheet for YTD and MTD.
On the first day of the month, before markets open, I update my monthly data and close out the previous month. I also check my AA's to see where I need to deposit this month's money and to make sure nothing's too far out of whack.
At the end of the year, I update YTD one last time and set up everything for the following year and start all over again.

Most of these tasks take a few minutes except for the final, YTD rollup.

Yeah, I might peek during the week now and again, :D

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Re: How often do you check your net worth?

Post by nisiprius » Fri Mar 29, 2019 11:16 am

I know the grand total of all of my accounts at financial institutions that put dollar totals on the statements, to maybe ±10%. For the house, I know the Zillow zestimate and the number on my real estate tax bills to maybe ±$50,000. I don't consciously check or calculate my net worth. I honestly don't understand what use it is, except for a) bragging rights, and b) for letting financial advisors know if they can get away with selling me riskier stuff and calling it "suitable."

I certainly don't know what use an actual calculation is.
Last edited by nisiprius on Fri Mar 29, 2019 1:32 pm, edited 2 times in total.
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SevenBridgesRoad
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Re: How often do you check your net worth?

Post by SevenBridgesRoad » Fri Mar 29, 2019 11:21 am

Net worth: close to never. House is paid off. Retired. No spreadsheets. Short of the zombie apocalypse (which will definitely happen, it's just that none of us know when), our financial machinery is boringly automatic and pretty bulletproof. I will admit I look at my Vanguard portfolio more than necessary, every few days. I rarely do anything while there. It's just weirdly comforting, even during down weeks or months. I'm still recovering from our past days of Fidelity asset management bloat syndrome, so I look for opportunities to sell an equity in the taxable account and move that money into our five-funds-in-one (VTINX).

Cash flow: I reconcile the checking account each month and confirm the auto transfer from VG occurred.

Since we're talking about our financial routines: I keep a set of instructions in a computer file and a paper copy in a binder. This is for my wife in case something bad happens to me. Like many here, she is not interested in the details of our finances. Once every few months I'll read through these instructions for any updates I need to make. I'll also look for ways to make the instructions ever more simple. I'll add the new date, print and place in binder, and save to computer folder.
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