Poll

Post FIRE: how often do you look at net worth?

I check net worth daily or every few days
16 (24.2%)
Weekly
9 (13.6%)
I check net worth monthly
25 (37.9%)
Six months or longer
11 (16.7%)
Once a year when I rebalance
5 (7.6%)
I check when the stock market moves significantly
0 (0%)

Total Members Voted: 66

Author Topic: Those who have already retired, when was the last time you calculated net worth?  (Read 1886 times)

vine

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I'm realizing that it's been a long while since I last looked at my net worth. I used to obsess about the numbers when I was saving, it was addictive to watch the growth when in the accumulation phase.

Now that I'm not usually actively adding to my accounts I seldom look at the numbers. I look when I re-balance my portfolio once per year at tax time. Sometimes I look when I feel like I might be spending too much.

But usually I now just ignore all of the numbers.

So my question goes out to other early retirees: how often do you look at the numbers now that you are retired?

oldladystache

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Every 6 months. That's not on your list.

And it's almost always significantly higher.

jim555

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I download my statements monthly and total the accounts the first week of the month.

Frankies Girl

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I use Mint, so it's right there every time I log in. +/- a few dollars anyway.


DreamFIRE

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I check my stash regularly, but I never figure my net worth.

MDM

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I use Mint, so it's right there every time I log in. +/- a few dollars anyway.
Quicken instead of Mint, but the same logic applies.

The numerical value of the net worth doesn't drive any particular decision.

MissNancyPryor

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Not FIRE'd yet, but sneaking up on it this year--  question for the group -  was it like shutting off a light to not look anymore or was there a period of time that you still checked?  Or was it a, "Hell, I jumped, no need to look behind me and second guess it" feeling? 

lhamo

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I keep an eye on how things are bouncing around in Mint (which I use to track expenses, primarily) every few days.  I have been back to logging monthly totals on the first day of the month after taking a year or so off that practice when we FIREd in 2015.

I used to track NW daily -- started it pretty diligently when the markets started tanking in late 2008 because I wanted a record of what happened to give myself hard evidence that a buy and hold strategy works.  It did - both the strategy and the tracking.  Stopped doing more diligent expense and NW tracking once we had our Beijing condo under contract.  At that point it was pretty obvious we had enough assets that we would never run out, and trying to stay on top of everything was more stress than it was worth.  EVen stopped doing the monthly NW tracking for awhile, but later decided I like to have the data to watch trends. 

SwordGuy

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1 to 3 times a month since we FIRED, just once a year before that. 

This market volatility has been great.   Up, down, up, down.   My wife and I are  now pretty blasť' about drops.

happy

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I keep a watch on net worth every month or so, but as I have some unrealised profits in a small development project at the moment, I check only to make sure things haven't gone too a-wry.

Mr. Green

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Only when I check my portfolio for rebalancing. I used to obsessively calculate it during the accumulation phase as well but it's a habit that holds no positive value post-FIRE. If anything it can be discouraging to stop seeing gains that come with accumulation.

FreshlyFIREd

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Checking net worth is not worth my time. I check my stash monthly, so I can make my monthly withdrawal to live on. My withdrawal is a constant percentage of stash.

soccerluvof4

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Because i have begun Credit card churning and other couple other financial things I check Mint everday so its pretty hard not to see my net worth when it staring me right in the face. While its not 100% true as I have a few things hidden in mint because I know its money spent down the line like 529s  etc.. Its what I consider my net worth.

radram

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The actual net worth calculation, yearly.

I look at parts of the whole several times a week, so i have an idea of the value, but not the actual value.

spartana

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Check investments and accounts that I withdraw from monthly, long term investments I won't touch for a decade or more maybe maybe monthly too,  total NW...well...never. Have a general idea but don't do the math. ETA I have a couple of things like Lifelock to monitor fraud and ID theft so don't worry too much about that.
« Last Edit: January 19, 2019, 09:11:07 AM by spartana »

Fishindude

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Since I no longer work and now have fewer income streams, I feel it's more important now than ever to keep close track of our finances.   I keep a financial statement on the computer and update it periodically throughout the year anytime something changes, probably 3-4 times annually.

BTDretire

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Just recently retired, but my plan has been and will be to check net worth every quarter.
Edit: I should have said, check stache every quarter.

 Networth, I guess I would add $160k for the house and another 15k for cars.
That's about it, it's the kids that will have the task of liquidating, and I hope they just, make it easy on themselves, take what they want, then hire an estate seller and be done with it.
« Last Edit: January 19, 2019, 08:22:16 AM by BTDretire »

Threshkin

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Daily because it is so easy.  I have my portfolio synced in PC so it is a 1 minute* exercise.
Checking your account values frequently is an important part of fraud and identity theft protection.

*Actually I log in once for a few seconds to launch the data sync process and then again a few minutes later to see the results.

Dicey

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Pre-FIRE, I did it monthly, wrote it on a brightly colored post-it and slapped it on the wall of my home office. Post-FIRE, I rarely check. Looking at our main statement on line and checking our primary house's value occasionally is about it, because having ENOUGH! and knowing it, even when the stock market is down, and our current flip project is taking longer than expected, is a joyful feeling. Hell since DH pays the bills now, I hardly even check the bank balances. There is incredible freedom in knowing your habits are so ingrained, and your stache is so bounteous, that there's always enough there. This feeling far surpasses the purported joy of paying off a cheap, affordable mortgage any day. Every day, in fact.

About those notes on the wall: very few people ever saw the inside of my home office. One who did was the guy who painted my house. In an odd twist of fate, we got married nearly 12 years later, which was a shock to both of us. We're still happily surprised, six years on. The good news is that his NW was about the same as mine by the time we wed, and though he's not a mustachian, he's a naturally frugal (but not cheap) dude. He never said a word at the time, but later told me he had seen my notes and was impressed at my dilligence.
« Last Edit: January 19, 2019, 10:12:31 PM by Dicey »