More Money Talk

[susandennis]

The upside of investing is you can watch your money make money and that is so very cool. If you pick the right investments or, as in my case, the right financial adviser, your money can make lots of money - so much so that come income tax time, you have to pay lots more taxes than you think. And, yes, that is the up side. One year, my investments earned nearly half of what I made in salary.

The downside is when shit tanks like it has for the past few days. On December 12 of last year, I had $27,000.00 more than I have now in investments. $27,000.00. That's some serious buckos.

Tyler, my financial adviser, says not to worry and I don't. He also says not to break out the champagne on days when the bottom line shoots up. And I don't.

Every day I check the number and mark it in my spreadsheet. Green is my net worth and blue is my investment portfolio. (The difference is mainly my condo.)



Kind of makes me glad today is Friday. I can't lose any more money until Monday.

Comments

[pinmedown.livejournal.com]

definitely have to have the right attitude and resilience to risk :) must be fun!

I keep reading to always play the long game and never sell even when shit is hitting the fan. I think I can do it! Maybe I will put a bit in bonds (10%) to help me sleep at night haha.

I always feel weird including your house in net worth, especially if you don't plan to sell. But I suppose you could take the equity out if needed eh.

[susandennis]

I used to have a friend who would look at times when the stock market tanks as "Fire Sale!!!!"

To me, net worth is how much you would have if you liquidated everything into cash.

[onelargecat.livejournal.com]

I never pay attention to the daily (or even monthly) ups and downs. I sort of have an idea of approximately how much our investment portfolio is worth, but that's it.

[susandennis]

You are totally doing it right! I need to see if I can get with that program.

[ellettra.livejournal.com]

I have access to my stuff, but I never look at it. Our firm has a financial advisor that we are able to avail ourselves of, and he is a big help. If I were watching it every day I would probably be in a constant tizzy. That said, I look forward to the happy day when I can invest more. (3 years, baby. Three years.)