Since I post at the beginning of each month to report on the pay the taxes challenge and my IRA asset allocation and balance, I was thinking I should have something to report on mid-month. I've seen other websites report on their net worth, so I thought I'd give it a try.
I had created a spreadsheet with my estimated net worth back on March 1st (I didn't post it here), and this is what that looked like:
Assets:Here are the numbers today:
Approximate value of house: $196,000
Roth IRA: $18,853
Simple IRA: $4,000 (estimation)
Savings: $11,500 (estimation)
Total net worth: $26,075
Approximate value of house: $183,600
Roth IRA: $20,110
Simple IRA: $4,759 (June 30 statement)
Savings: $6,038 (not including money set aside for property taxes)
Total net worth: $30,773
Difference from March 1: $4,698I thought I'd see a significant improvement, but it's the value of our house that really messed it up. If the house value would have just stayed the same, it would have been an improvement of $17,098. So I should be able to be proud of myself for that.
I didn't include my husband's retirement savings (I only get updates on that every quarter anyway). So to make this easier to calculate, I'll leave it out for now. I'll post my numbers because it'll keep me motivated to continuously improve the number! Maybe I'll leave off the house value in the future because it's right around break even and just concentrate on the value of my savings and investments. I don't know. What is the proper way to calculate net worth?