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Net Worth Report - 10/05
I've discovered that you're not really a personal finance blogger unless you open your books and talk about your goals. After recovering from my initial shock that lots of people are willing to publish so much information about themselves, I've decided it's not such a big deal, so I'll join the club.
I'll confess that I had never actually calculated my net worth until about a month ago when I was inspired by Savvy Saver. Previously, I'd just make a wildly inaccurate guess. (I had no idea how inaccurate, until now!) Going through the calculation has opened my eyes to the fact that my asset allocation is not what I'd like it to be — and you might discover the same, so I encourage you to do it, too.
My report is a raw data snapshot. I'm not going to attempt any kind of fancy accrual for assets (bonuses, stock purchase plans) or liabilities (property taxes, insurance bills) to smooth out the data.
My reports are going to be broken down by time horizon instead of by asset class, with the exception of personal property (net value of home and vehicle). Here's the mapping of several types of assets into my reporting categories:
And here are my figures, as of 10/9/2005:
There are three reasons why my short-term investments are so large. The first is that I keep a $10,000 emergency fund. The second is that I'm taking advantage of 0% credit cards to earn money with a time deposit. The third is that I've been trying to buy a new car, so I've kept myself very liquid in order to have flexibility to choose the best financing option. I don't feel safe moving that money to a longer-term investment until my car situation is settled.
My net worth has actually fallen about $5000 over the past month, mostly due to a reduction in the value of unvested stock options.
I don't have much to say about financial goals right now. I've been carefree about financial goals because I've never been a big spender and frankly didn't see much need to worry about it. When I was in college I had the silly idea that I'd try to be a millionaire by the time I'm 35. Perhaps I'll explore the reasonableness of that goal in the future. I'll come up with some shorter-term goals, too.
In the future I'll try to report at the beginning of each month.