I wanted to post a spreadsheet showing my current financial status as well as my initial net worth as a simple calculation of my assets and my liabilities. I figure it’s a good way for me to start tracking my net worth to give me much more of a boost in staying focused and also to be reminded that there is a specific goal that I want to reach after all of this is said and done. I got the template for the net worth spreadsheet from Jonathan’s MyMoneyBlog whose writings actually were the ones that prompted me to be all gung-ho right now about saving for retirement and reading other PF blogs.I mentioned that I started contributing to my Roth IRA this year, just in time to make the cut-off for 2006. However, I was only able to max out my contribution to the Roth by actually dipping into what used to be my emergency funds. After a couple of years of keeping as much as 3-months worth of expenses, I opted for the Roth because you can only contribute now. Once the deadline passes, I won’t be able to go back and contribute anymore. I figure I’ll just bite the bullet and hope that no “emergencies” come up until I can rebuild my emergency fund again. As of today, my emergency funds are now dwindling just above ZERO. After reading this entry by Broke Now, Rich Later, I don’t feel so bad for doing this, albeit I may not exactly have the prerequisites for doing so.
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