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Net Worth Statement

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7 Net Worth Killers (From CNNMoney)

Thursday, May 3rd, 2007

From CNN Money – 7 Net Worth Killers (links along with my lovely commentary): 1. Ignoring your money Don’t take the “invest-it-and-forget-it” mentality too far. Also, don’t have too much of your money in low-yielding savings accounts. 2. Buying too much house The bigger the house, the more you’re going to spend in mortgage payments, […]

My New Fun Hobby: Updating Our Net Worth Statement

Wednesday, April 11th, 2007

Many financial experts say that you should update your Net Worth Statement once a year or so. I update ours about once a month. Why? Because it’s fun! Why is it fun? Because we paid off our credit cards last year and all the money that was going toward those cards is now helping us […]

An Interesting Read on America’s Wealth Gap

Monday, March 12th, 2007

I’ll be honest with you,… I don’t know much about the topic of the supposed wealth divide in America. I mean I’m well aware that we have the rich, the middle class, and the poor. But, other than that, I don’t know much beyond what our media crams down our throats (which I typically take […]

Who Was or Is The Richest Man in the U. S.?

Monday, March 12th, 2007

Bill Gates has a net worth of $82 billion. Based on that number, he would be the richest man in the U. S. ever. However, according to Fortune, the richest man ever was John D. Rockefeller. Although his net worth at his death was only $1.4 billion, at the time it represented 1/65 of the […]

What’s Your RON (Return on Net Worth)?

Monday, March 5th, 2007

While reading Thomas Stanley’s Millionaire Women Next Door, I came across something called the RON or Return on Net Worth. It’s calculated by dividing one’s household income by their net worth (assets – minus liabilities). The formula looks like this: RON = Household Income ÷ Household Net Worth The book gives an example of a […]

Interesting Article From Liz Pulliam Weston

Tuesday, October 31st, 2006

Reader Stacey sent me a link to an interesting article by Liz Pulliam Weson about getting your free financial report card. I read through the article and think there’s some useful information there so you might want to check it out. I’ll try to write more about it in the morning. Right now, I’m going […]

JLP’s Question of the Day – Net Worth

Tuesday, October 10th, 2006

In light of yesterday’s post about net worth, I want to pose this question: Should home equity be included in figuring net worth? I say yes but I think people should be careful if they live in an area where property values have soared through the roof, which could indicate a bubble. Although we all […]

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