Net Worth Statement
« Previous Entries7 Net Worth Killers (From CNNMoney)
Thursday, May 3rd, 2007From 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 [...]
My New Fun Hobby: Updating Our Net Worth Statement
Wednesday, April 11th, 2007Many 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 [...]
An Interesting Read on America’s Wealth Gap
Monday, March 12th, 2007I’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 [...]
Who Was or Is The Richest Man in the U. S.?
Monday, March 12th, 2007Bill 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 [...]
What’s Your RON (Return on Net Worth)?
Monday, March 5th, 2007While 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, 2006Reader 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 [...]
JLP’s Question of the Day – Net Worth
Tuesday, October 10th, 2006In 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 want [...]
How Does Your Net Worth Compare?
Monday, October 9th, 2006Have you ever wondered what your net worth should be based on your age? Although this doesn’t exactly show you what your net worth should be, it will give you an idea of what the average net worth is based on age range.
Take a look at this Family Net Worth Chart from page A8 [...]
How to Determine if You Are “Wealthy”
Thursday, September 14th, 2006Have you ever wondered if you were “wealthy?” There is a rule-of-thumb formula used in The Millionaire Next Door for determining whether or not you are wealthy. For those who are interested, their simple formula is:
Multiply your age by your pretax income from all sources (except inheritances).
Divide that number by 10 to arrive at [...]
A Review of “The 5 Lessons a Millionaire Taught Me”
Monday, September 4th, 2006It’s not a new book, but I did finally get around to reading The Five Lessons a Millionaire Taught Me by Richard Paul Evans. I enjoyed it. Here’s why:
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