Comments on: Financial Monthly Review (May ‘05)

By: jim

jim — Mon, 13 Jun 2005 19:46:45 +0000

Yeah, the difference is in equity on the home – part of that is the cash from my liquid assets (the $18,000 drop) and part of that is from a gift from my parents. I would take that net worth with a grain of salt because I don’t know how the numbers are going to shake out ultimately. Plus, I only added it in because FMF asked for it otherwise I don’t see it as very meaningful because I did receive gift funds from my parents for the house.

By: King Asa

King Asa — Mon, 13 Jun 2005 19:01:54 +0000

How do you calculate net worth? I assume there is more involved than the assets and liabilities you have listed here?

By: jim

jim — Thu, 09 Jun 2005 14:16:19 +0000

Crap, now you know what I look like.

Wow, what a bad pun.

By: FMF

FMF — Thu, 09 Jun 2005 14:12:06 +0000

Nice pics. I especially like the “using” the bathroom one.

By: FMF

FMF — Thu, 09 Jun 2005 14:09:07 +0000

Just added you to my list (link).

By: Jose

Jose — Tue, 07 Jun 2005 11:44:30 +0000

Gifts are part of your networth. As the gifts you will give your children when they buy their first home will be part of theirs. However, I understand the feeling. I accepted a loan from my mom when I bought my first home. Payed it off in two years. I didn't wanted to accept a gift. Money and Investing

By: jim

jim — Tue, 07 Jun 2005 01:05:45 +0000

Thank you but it’s my parents who deserve the kudos. Without them, I probably wouldn’t have the education or financial jumpstart they’ve provided me.

By: bob

bob — Mon, 06 Jun 2005 23:41:38 +0000

wow that is great! congrats.

By: jim

jim — Mon, 06 Jun 2005 23:13:39 +0000

I’ve been working for almost two years and I’ve maxxed out my contribution both years. Actually technically I maxxed out the first year in in six months (I started work in June), and then again the following year, and am on my way this year. I also get 3% match on 6% contribution and my 401k appreciated 8% in the first six months and then 10% for 2004. It hasn’t performed nearly as well this year though.

By: bob

bob — Mon, 06 Jun 2005 22:32:59 +0000

how did you get 31K in 401K? how long have you been working?

By: FMF

FMF — Mon, 06 Jun 2005 20:12:49 +0000

Do you post your net worth? If so, let me know and I can add it to my post on net worth of financial bloggers at http://www.freemoneyfinance.com/2005/06/net\_worth\_of\_fi.html.

By: jim

jim — Mon, 06 Jun 2005 15:53:01 +0000

Pics are available here (Flickr). Once I get all the mortgage stuff sorted out (it's sitting at home), I'll try to update net worth. Thanks for the suggestion and the positive comments.

By: blogreader

blogreader — Mon, 06 Jun 2005 14:20:01 +0000

Congrats on making the largest purchase of your life (so far). You did a great job of documenting your experience and I’m sure it’ll be useful for those who have yet to achieve that milestone. It’s also neat to see your monthly financial position and how much your purchase had an effect on your savings. I’m sure it wasn’t easy to hand over that 88%, but it definitely was the best of causes. Speaking of the house, would you consider posting pics sometime? Also, would you considering tallying up your net worth on a monthly basis? It’s only calculated as the difference between Assets & Liabilities and is an easy way to measure your progress.