Comments on: Personal Balance Sheet, July 2007 ($102,011, +2.4%) http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 13 Feb 2012 01:22:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: John http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117982 John Sat, 11 Aug 2007 23:02:41 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117982 > still invested so it’s not the usual market timing. The only problem with market timing is that it does not work. Especially in a long-term account like the 401k, it's pointless. It's explained in Chapter 4 of this book: http://www.amazon.com/Index-Funds-12-Step-Program-Investors/dp/0976802309/ > still invested so it’s not the usual market timing.

The only problem with market timing is that it does not work. Especially in a long-term account like the 401k, it’s pointless.

It’s explained in Chapter 4 of this book:
http://www.amazon.com/Index-Funds-12-Step-Program-Investors/dp/0976802309/

]]> By: Lazy Man and Money http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117975 Lazy Man and Money Sat, 11 Aug 2007 20:03:10 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117975 I like a little of the market timing in the 401K plan. It's good that even if the market goes crazy good while you are conservative, you just miss out on some gains. Sounds like you are still invested so it's not the usual market timing. I like a little of the market timing in the 401K plan. It’s good that even if the market goes crazy good while you are conservative, you just miss out on some gains. Sounds like you are still invested so it’s not the usual market timing.

]]> By: erik http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117859 erik Wed, 08 Aug 2007 01:47:48 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117859 Hey Flexo, I was just wondering why you are keeping $36k in a savings account when you have $20k in debt? Why not just pay off those debts with the $36k? You'll still have $16k for an emergency fund. Maybe you are saving iust for a down payment on a house. Just wondering. Hey Flexo,

I was just wondering why you are keeping $36k in a savings account when you have $20k in debt? Why not just pay off those debts with the $36k? You’ll still have $16k for an emergency fund. Maybe you are saving iust for a down payment on a house. Just wondering.

]]> By: Flexo http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117704 Flexo Thu, 02 Aug 2007 13:25:31 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117704 MDJ: I'm 31. John: That's an interesting idea. It's a good way to take the fluctuation out of the monthly picture. I'm trying to reduce the work I put into these monthly reports, and Quicken always reports the current stock values, so editing those balances for the purposes of reporting would be an additional step that I'd rather not have. MDJ: I’m 31.

John: That’s an interesting idea. It’s a good way to take the fluctuation out of the monthly picture. I’m trying to reduce the work I put into these monthly reports, and Quicken always reports the current stock values, so editing those balances for the purposes of reporting would be an additional step that I’d rather not have.

]]> By: John http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117702 John Thu, 02 Aug 2007 12:29:23 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117702 I keep track of my balance sheet much as you do. One difference is that to avoid the impact of month-to-month stock market fluctuations on my "net worth", I fix the value of my market-based investments in April of each year. I then use (the April-based value + fixed monthly contribution) every month till April next year. (April = big IRA contribution for tax season). The downside is that I don't get the monthly motivation boost of stock market gains adding to my net worth. But it protects me from the demotivation (and distraction) of a temporary "market correction" affecting my net worth. The catch is that I must believe that all market corrections are temporary, and over the long term the market will trend upwards. It's not a perfect system, but it keeps me from "market timing" (which includes re-allocating monthly contributions based on recent run-ups in the market). I keep track of my balance sheet much as you do. One difference is that to avoid the impact of month-to-month stock market fluctuations on my “net worth”, I fix the value of my market-based investments in April of each year. I then use (the April-based value + fixed monthly contribution) every month till April next year. (April = big IRA contribution for tax season).

The downside is that I don’t get the monthly motivation boost of stock market gains adding to my net worth. But it protects me from the demotivation (and distraction) of a temporary “market correction” affecting my net worth.

The catch is that I must believe that all market corrections are temporary, and over the long term the market will trend upwards. It’s not a perfect system, but it keeps me from “market timing” (which includes re-allocating monthly contributions based on recent run-ups in the market).

]]> By: MillionDollarJourney.com http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117700 MillionDollarJourney.com Thu, 02 Aug 2007 11:41:51 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117700 Congrats on the net worth increase Flexo. If you don't mind me asking, how old are you? Congrats on the net worth increase Flexo. If you don’t mind me asking, how old are you?

]]> By: Flexo http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117694 Flexo Thu, 02 Aug 2007 03:50:34 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117694 SS: Quicken works for me, Money is about the same level. The software can span to moderately difficult depending on what you're trying to do. SS: Quicken works for me, Money is about the same level. The software can span to moderately difficult depending on what you’re trying to do.

]]> By: Pinyo http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117692 Pinyo Thu, 02 Aug 2007 03:41:28 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117692 Flexo - a great big congratulation to you. Reaching $100,000 is a huge milestone. The next $100,000 will be easier. :-) Flexo – a great big congratulation to you. Reaching $100,000 is a huge milestone. The next $100,000 will be easier. :-)

]]> By: Flexo http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117690 Flexo Thu, 02 Aug 2007 03:37:39 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117690 klerg: thanks! klerg: thanks!

]]> By: klerg http://www.consumerismcommentary.com/personal-balance-sheet-july-2007-102011-24/comment-page-1/#comment-117687 klerg Thu, 02 Aug 2007 02:00:48 +0000 http://www.consumerismcommentary.com/2007/08/01/personal-balance-sheet-july-2007-102011-24/#comment-117687 A HUGE congrats to you for getting rid of that car payment! BIG milestone right there! A HUGE congrats to you for getting rid of that car payment! BIG milestone right there!

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