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Net worth change in 2018

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  • Vagabond MD Vagabond MD 
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    Status: Physician
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    Joined: 01/21/2016
    Earnest refinancing bonus

    Update: Just got around to calculating it. Up 39% this year. About half an increase in liquid assets and about half an increase in the value of the business. Very little of it from increase in our home value and none of it from paying down debt since we didn’t have any to pay down.

    Really puts the market losses in perspective doesn’t it?

    Click to expand…

    The more money you can pile onto your nest egg, the less effect the market volatility (up or down) has on your nest egg.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    #179754 Reply
    Liked by SLC OB
    Avatar Dicast 
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    Status: Physician
    Posts: 404
    Joined: 01/09/2016

    The last couple years I kept a thread about end of year net worth updated. I felt like letting the thread go but my numbers are below.

    End of Year Net Worth:

    2014: no accurate records but it was significantly less than 0

    2015: $25k

    2016: $246k

    2017: $570k

    2018: $805K

    I added the value of our cars to the net worth this year but the change in accounting didn’t change the net worth much. I’ve kept the 529 off the net worth again. Our income is something between 500-550k as a couple (only the last 2 years). Investments were pretty much flat this year but we benefited from no student loans/interest for the last 7 months of the year!

    If I can say anything about net worth changes. Our biggest contributor has always been savings rate. Our general goal/budget is 1/3rd to taxes, 1/3rd savings, 1/3rd to live on. We have been a bit better on taxes and living expenses so we’ve saved a bit more.

    Get outside of your bubble.

    #179802 Reply
    The White Coat Investor The White Coat Investor 
    Keymaster
    Status: Physician
    Posts: 4290
    Joined: 05/13/2011

    The last couple years I kept a thread about end of year net worth updated. I felt like letting the thread go but my numbers are below.

    End of Year Net Worth:

    2014: no accurate records but it was significantly less than 0

    2015: $25k

    2016: $246k

    2017: $570k

    2018: $805K

    I added the value of our cars to the net worth this year but the change in accounting didn’t change the net worth much. I’ve kept the 529 off the net worth again. Our income is something between 500-550k as a couple (only the last 2 years). Investments were pretty much flat this year but we benefited from no student loans/interest for the last 7 months of the year!

    If I can say anything about net worth changes. Our biggest contributor has always been savings rate. Our general goal/budget is 1/3rd to taxes, 1/3rd savings, 1/3rd to live on. We have been a bit better on taxes and living expenses so we’ve saved a bit more.

    Click to expand…

    Funny what some people count and some don’t. For instance, I count the 529s but not the cars.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #179804 Reply
    Liked by Dicast, Tim
    Avatar IRdoc 
    Participant
    Status: Physician
    Posts: 34
    Joined: 01/10/2016

    Up 61% per personal capital. Probably slightly over exaggerated due to adding in a few older investments.

    #179833 Reply
    Vagabond MD Vagabond MD 
    Participant
    Status: Physician
    Posts: 3242
    Joined: 01/21/2016

    The last couple years I kept a thread about end of year net worth updated. I felt like letting the thread go but my numbers are below.

    End of Year Net Worth:

    2014: no accurate records but it was significantly less than 0

    2015: $25k

    2016: $246k

    2017: $570k

    2018: $805K

    I added the value of our cars to the net worth this year but the change in accounting didn’t change the net worth much. I’ve kept the 529 off the net worth again. Our income is something between 500-550k as a couple (only the last 2 years). Investments were pretty much flat this year but we benefited from no student loans/interest for the last 7 months of the year!

    If I can say anything about net worth changes. Our biggest contributor has always been savings rate. Our general goal/budget is 1/3rd to taxes, 1/3rd savings, 1/3rd to live on. We have been a bit better on taxes and living expenses so we’ve saved a bit more.

    Click to expand…

    Funny what some people count and some don’t. For instance, I count the 529s but not the cars.

    Click to expand…

    I don not count either (or the UTMAs). One of the 529’s is in the distribution phase.

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    #179850 Reply
    Avatar StarTrekDoc 
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    Status: Physician
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    Joined: 01/15/2017

    For NW everything is counted. I think of it like pushing the eject button (or passing) and what the estate has authority over to distribute.

    If I didn’t have a 529, would have to draw from the estate. The reason for 529 is planned for the expense and used the proper vehicle for it. Just because it happens for someone else, it’s still your funds that you designated and under your control….hence part of net worth imho.

    #179865 Reply
    MPMD MPMD 
    Participant
    Status: Physician
    Posts: 2155
    Joined: 05/01/2017

    The last couple years I kept a thread about end of year net worth updated. I felt like letting the thread go but my numbers are below.

    End of Year Net Worth:

    2014: no accurate records but it was significantly less than 0

    2015: $25k

    2016: $246k

    2017: $570k

    2018: $805K

    I added the value of our cars to the net worth this year but the change in accounting didn’t change the net worth much. I’ve kept the 529 off the net worth again. Our income is something between 500-550k as a couple (only the last 2 years). Investments were pretty much flat this year but we benefited from no student loans/interest for the last 7 months of the year!

    If I can say anything about net worth changes. Our biggest contributor has always been savings rate. Our general goal/budget is 1/3rd to taxes, 1/3rd savings, 1/3rd to live on. We have been a bit better on taxes and living expenses so we’ve saved a bit more.

    Click to expand…

    Funny what some people count and some don’t. For instance, I count the 529s but not the cars.

    Click to expand…

    this comes up enough that a poll might be cool

    the argument really seems to be about which assets “count.”

    “which of the following do you count as assets when calculating your NW.”

    #179866 Reply
    Avatar Dicast 
    Participant
    Status: Physician
    Posts: 404
    Joined: 01/09/2016

    The last couple years I kept a thread about end of year net worth updated. I felt like letting the thread go but my numbers are below.

    End of Year Net Worth:

    2014: no accurate records but it was significantly less than 0

    2015: $25k

    2016: $246k

    2017: $570k

    2018: $805K

    I added the value of our cars to the net worth this year but the change in accounting didn’t change the net worth much. I’ve kept the 529 off the net worth again. Our income is something between 500-550k as a couple (only the last 2 years). Investments were pretty much flat this year but we benefited from no student loans/interest for the last 7 months of the year!

    If I can say anything about net worth changes. Our biggest contributor has always been savings rate. Our general goal/budget is 1/3rd to taxes, 1/3rd savings, 1/3rd to live on. We have been a bit better on taxes and living expenses so we’ve saved a bit more.

    Click to expand…

    Funny what some people count and some don’t. For instance, I count the 529s but not the cars.

    I guess it would be easier and maybe even more correct to include both 529s and cars/boats. I think there is a cutoff point somewhere around adding in the value of household items.

    Last year I added an additional column to my spreadsheet so I could compare net worth with and without 529s. Mentally though, I have given this money to my kids so I don’t like to use it for the “official number”. Just like savings rate, comparing net worths is best when you only compare it against yourself from prior years. As long as I know what I’m using for calculations I can make reasonable comparisons and adjustments.

    I made the change in accounting the cars because we financed 2 vehicles this year. Only adding the debt side seemed silly to me. The prior year I ignored the value of our paid off car…it was totaled. The check we got from insurance went to finishing off student loans instead of buying another car because of interest rates. Half a year later we now have the cash to payoff the higher rate of the 2 cars (3.8% and 0.9%) but we are waiting to see about making a location/lifestyle change before using up the checking account.

    Get outside of your bubble.

    #179867 Reply
    Avatar Antares 
    Participant
    Status: Physician
    Posts: 463
    Joined: 01/20/2016

    Up 0.12% per Personal Capital 12/31/17 – 12/31/18

    Very pleased as I was expecting worse. Which is a reminder to me of the greater emotional power of losses over gains. I had almost forgotten about the run up I’d benefitted from during the first half of the year, just cognizant of the losses in the last quarter. Between that and adding a chunk of savings, I treaded water. This is encouraging as I do want to retire in a few years.

    #179911 Reply
    fatlittlepig fatlittlepig 
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    Status: Physician
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    Joined: 01/26/2017

    Who really cares what you count, if it makes you feel better about yourself go ahead and count it.

    #179926 Reply
    Drop it into MD Drop it into MD 
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    Status: Physician
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    Joined: 09/20/2018

    I am going to count my neighbors house as part of my net worth.

    #179930 Reply
    Avatar Peds 
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    Status: Physician
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    Joined: 01/08/2016

    Who really cares what you count, if it makes you feel better about yourself go ahead and count it.

    Click to expand…

    you literally started multiple forum topics on this exact measure…..

    How rare are financially savvy physicians?

    Where are the Fatlittlepigs? Are Fatlittlepigs rare?

    #179937 Reply
    fatlittlepig fatlittlepig 
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    Sorry not getting your point.

    #179939 Reply
    Avatar Jack_Sparrow 
    Participant
    Status: Physician
    Posts: 41
    Joined: 01/09/2019

    Down 16% for the year. Lost about 31% on my stocks. (Portfolio is 100% in stocks/equities). Also totaled two paid off cars (in a matter of 3 days) and went on some big time vacations. I’m not including home value, but I’ll probably take a bath on that after being screwed over by City Council and local zoning code change next to my house. Bring on 2019!

    #179986 Reply
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 748
    Joined: 01/26/2017

    Down 16% for the year. Lost about 31% on my stocks. (Portfolio is 100% in stocks/equities). Also totaled two paid off cars (in a matter of 3 days) and went on some big time vacations. I’m not including home value, but I’ll probably take a bath on that after being screwed over by City Council and local zoning code change next to my house. Bring on 2019!

    Click to expand…

    Don’t despair my feathered friend, the more you are “down” the more you started off with.

    #180015 Reply

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