Author Topic: Displaying Net Worth?  (Read 10363 times)

MrCash

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Displaying Net Worth?
« on: March 19, 2014, 09:07:14 PM »
For the mustachians out there (and especially other bloggers), what do you think about displaying your network on your blog or website?  Does your answer change if it is an anonymous blog vs a blog with your personal information?

I'm debating on keeping a net worth chart on my blog, but I'm not sure since I might make it more public to friends and family soon.  I also wonder if this could detrimentally affect relationships with employers or coworkers.

Janie

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Re: Displaying Net Worth?
« Reply #1 on: March 20, 2014, 01:14:42 AM »
What would be the benefit of publicizing it?
« Last Edit: March 20, 2014, 01:17:51 AM by Janie »

marty998

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Re: Displaying Net Worth?
« Reply #2 on: March 20, 2014, 01:32:59 AM »
It will certainly invite debate. 1st question will be how you've calculated it and then you will get asked about inclusions and exclusions.

Because I'm a natural shitstirrer I'm going to ask whether you have included the net present value of your future earning potential based on your qualifications, talents, personality and prospects.

I dunno, publishing your net worth to the open world will invite attention, whether t is the wanted or unwanted type is not something you will be able to control.

FrugalUndercover

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Re: Displaying Net Worth?
« Reply #3 on: March 20, 2014, 02:59:49 AM »
I personally wouldn't - but then I'm also not the type to start my own blog :) I think putting net worth out there (and savings rates) would add credibility but at the risk of alienating personal relationships as well as some readers

But that is also a positive in finding a compatible cohort

lexie2000

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Re: Displaying Net Worth?
« Reply #4 on: March 20, 2014, 07:20:13 AM »
There's no way I would do it, but that's just me.  A group of people from another message board I participate in from time to time decided to start a group on Networth IQ (I think it is).  The site is supposed to be anonymous, but I decided not to join them.

arebelspy

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Re: Displaying Net Worth?
« Reply #5 on: March 20, 2014, 07:38:49 AM »
I'd totally do it, but it depends on both your personality and purpose.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

soccerluvof4

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Re: Displaying Net Worth?
« Reply #6 on: March 20, 2014, 07:53:25 AM »
^+1. I wouldn't of started a financial blog of that subject matter (or any for that matter) if I felt I had to hide things. Especially in an attempt to educate people.  I think you have to be calloused however to there opinions.

matchewed

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Re: Displaying Net Worth?
« Reply #7 on: March 20, 2014, 08:02:25 AM »
I believe in transparency in general and specifically if you're a blogger. It lends credibility. Of course keep private (it's the internet HA!) what you can and what would make you and yours vulnerable.

I'd do it in a heart beat if I were a blogger. Warts and all would be my style.

Dr. Doom

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Re: Displaying Net Worth?
« Reply #8 on: March 20, 2014, 08:08:10 AM »
I do it.  It's important for the purpose of my blog, which is to document the progression.  Also, if the content doesn't feel true to me, it's no longer fun to write and track.

My blog is anon.  You can figure out my real identity if you really want to via some google searches on the domain info, but that's OK with me.   Friends and family will never figure it out, they don't read it, and I intend it to stay that way.

The other clear benefit in publicizing it is that readers want to see what you're going through and visualize the same thing happening to themselves.  That's what learning is all about, isn't it?  Collecting a lot of data, then applying that data to your own life and making decisions.  Modeling.

I wouldn't feel comfortable doing this in a non-anon way btw.

Prairie Stash

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Re: Displaying Net Worth?
« Reply #9 on: March 20, 2014, 08:59:55 AM »
I'd totally do it, but it depends on both your personality and purpose.

I think you have done it. Reading enough of your posts, people can start to figure it out.

If I was lazy I would just ask you direct. I prefer the guessing game.

AJ

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Re: Displaying Net Worth?
« Reply #10 on: March 20, 2014, 09:33:10 AM »
I would do it if the blog was anonymous, and I would *love* it if my favorite PF bloggers did that. But that being said, it may alienate people whose NW is much lower or much higher than your own.

arebelspy

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Re: Displaying Net Worth?
« Reply #11 on: March 20, 2014, 09:40:56 AM »
I would do it if the blog was anonymous, and I would *love* it if my favorite PF bloggers did that. But that being said, it may alienate people whose NW is much lower or much higher than your own.

Phoebe had that issue a bit, but I think her transparency overall is a very good thing.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

libertarian4321

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Re: Displaying Net Worth?
« Reply #12 on: March 20, 2014, 11:36:39 AM »
I'd totally do it, but it depends on both your personality and purpose.

I'd do it anonymously.  I don't think I'd show it publicly to everyone, including friends, family, and co-workers- some of whom know my rough net worth, but most of whom do not, though they probably know I'm not in danger of missing my next meal.

FuckRx

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Re: Displaying Net Worth?
« Reply #13 on: March 20, 2014, 05:19:45 PM »

i think it would be cool to be able to have our net worth listed on this site maybe under our usernames or something... ok i know i hijacked this thread... don't face punch, i'll just go to my corner...

arebelspy

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Re: Displaying Net Worth?
« Reply #14 on: March 20, 2014, 06:15:48 PM »
I'm not a fan of that, because net worth has nothing to do with what they say, or heir opinions. It'd just be a distraction.

Someone posting their own on their own blog or journal though is different.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

Nords

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Re: Displaying Net Worth?
« Reply #15 on: March 20, 2014, 07:35:34 PM »
For the mustachians out there (and especially other bloggers), what do you think about displaying your network on your blog or website?  Does your answer change if it is an anonymous blog vs a blog with your personal information?
I'm debating on keeping a net worth chart on my blog, but I'm not sure since I might make it more public to friends and family soon.  I also wonder if this could detrimentally affect relationships with employers or coworkers.
It's a perpetual debate.

The bloggers who do the most net-worth updates are generally anonymous.  Those who use their actual names on their sites tend to focus more on their income reports or their declining debt levels, not their net worth.

Those who put up numbers feel that it makes them more accountable (especially freelancers or entrepreneurs) and focused on the purpose of their site.  And let's face it, if you're posting numbers then you're guaranteed to have at least one post already formatted and practically pre-written every month.  I'm only posting weekly now and I have plenty of drafts in the hopper, so I no longer feel that pressure to crank out the content.

I'll discuss income in general terms because the military pay & pension numbers are right there on the DFAS.mil website.  It also gives me a chance to discuss COLA and inflation along with expenses like the military's Survivor Benefit Program or Tricare Prime premiums.  Some people are encouraged that they can live within the pension (augmented later by Social Security) while others realize that they'd better save more or start a bridge career. 

I don't discuss net worth because I'm concerned that it would discourage people.  My spouse and I have taken on a lot of market risks over the last 30 years of the world's greatest bull markets (both equities and real estate) so I'm not sure how relevant that history may be to future readers.  I also still get the occasional attitude of "Sure, you officers all get the big bucks but my puny enlisted pension will hold me down and keep me working for The Man"... it's missing the Mustachian point so badly that I just avoid it.

Besides, the pursuit of financial independence shouldn't be about my net worth.  It should be about the reader's net worth.




FuckRx

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Re: Displaying Net Worth?
« Reply #16 on: March 21, 2014, 12:04:38 AM »

when you guys say anonymous, is it because you are worried someone will target you as a blogger if you display your net worth? i'm asking only out of curiosity.

MrCash

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Re: Displaying Net Worth?
« Reply #17 on: March 21, 2014, 09:08:16 AM »

when you guys say anonymous, is it because you are worried someone will target you as a blogger if you display your net worth? i'm asking only out of curiosity.

It's different depending on the person.  Some do it for security and privacy reasons and others do it because they don't want the people who know them personally to know all of their financial details.

Cpa Cat

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Re: Displaying Net Worth?
« Reply #18 on: March 21, 2014, 09:44:05 AM »
I can see it being a benefit for people who have followed you since the beginning. But for new readers, seeing your ginormous "stache" posted on the front of your blog can be alienating.

They'll see it and say, "This guy has 1M in investments and I have 50k in debt. Obviously this isn't a blog that's going to apply to me!" They won't take the time to read through your old posts to see your journey from debt to millionaire.

If you did do it, I'd suggest putting in the context of "This is where I started (link to first blog post)... Here is the progression (link to Jan 2010, Jan 2011, Jan 2012 blog history)... and this is where I am now." Then new users could follow the links to orient themselves to the blog posts that are closest to their own position.

And when you update it, make sure you break down successes and failures for the year. That sort of disclosure needs a lot of context to avoid pitfalls. You need to make sure the information is presented in a useful way. Otherwise, it's just useless bragging.

William

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Re: Displaying Net Worth?
« Reply #19 on: March 21, 2014, 09:54:47 AM »
J. Money (BudgetsAreSexy) stays anonymous.  The biggest reason I have heard him cite is about his net worth.  He doesn't feel comfortable having his family/friends see his net worth up in lights.

I blog and I'm not going to display my net worth.  I've hinted at what it is but unless you're diligent, you won't figure it out.

To me, I don't want someone to summarize me based on my net worth.

plantingourpennies

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Re: Displaying Net Worth?
« Reply #20 on: March 21, 2014, 07:08:46 PM »
We publish monthly income statements and balance sheets on our site, but very few people we know in real life know about the existence of our site. 

brooklynmoney

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Re: Displaying Net Worth?
« Reply #21 on: March 23, 2014, 06:43:30 PM »
I have a barely public blog (I think of it as my online money diary) and I publish my networth through networthiq.com which I think is an awesome site. If you did want to go the public route, consider using the site for it.  I love "competing" (in my mind) with the person next up on the rung from me in my state/industry/age range, etc.