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Net Worth – May 2008 May 31, 2008

Posted by pf in Net Worth Update.
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33 comments

Well, another milestone achieved as we have finally surpassed $600K in net worth. I had eclipsed $500K in March 2007, and so it took me just a tad bit over a year to make the next one. I’ll take it. Unless the stock market takes off, I am not expecting to achieve the same kinds of gains I’ve had the last couple of months. Gains made possible by a perfect brew of stock market gains (feeling like I actually benefited from some of my investments made in January), year end bonuses, and tax refunds.

Now that we are in summer, we are engaged in the typical activities like yardwork, BBQ, and the ice cream man. As far as spending is concerned, although nothing exciting to report this month, we will have some fairly significant expenditures coming up very soon…not the least of which will be our property taxes. To that extent, I could actually see a drop…bah.

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Net Worth – Apr 2008 April 30, 2008

Posted by pf in Net Worth Update.
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6 comments

My net worth in Sept 2007 was $555,433 and in Feb 2008 sat at $556,032 for a whopping gain of $599 (I guess I should be thankful it wasn’t negative?!). In March, we finally started to see some healthy movement to the upside. This month, the stock market followed it up with a strong showing that pushed my net worth to $598,677. I don’t know whether it will be short-lived, but a treat to see an increase two months in a row.

In general, April was another quiet month with no major purchases to speak of. However, I did complete my 2008 Roth IRA contributions (trying to buy while it was down…hopefully as low as we’ll see in 2008). Anyway, here is the breakdown:

Results at Networth IQ

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Newsweek: Spending Spree Over April 21, 2008

Posted by pf in Expenses and Savings.
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7 comments

I came across the following article from Newsweek

Essentially, the writer outlines how the spread of credit created a boom in spending that had both positive (increased accessibility to funds for housing, etc) and negative (overspending) effects.  Due to the current crisis and the generally indebtedness of our population, the author wonders if the era of free spending which generated significant growth not only in our own economy but for others around the world is over and what it may mean.

In my view – GOOD.  I have waxed on about similar topics in the past where I have expressed concern about our country ranging from the dire state of personal finances (too much debt, too little savings) to broader topics such as the crisis we are facing with Social Security and Healthcare.

I remain deeply distressed and concerned about the path we are on and the recent bailout proposals for both businesses and consumers who have made foolish mistakes and may be saved via a taxpayer rescue only strengthen this view.  WAKE UP.

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