Net Worth – Oct 2007 November 4, 2007Posted by pf in Net Worth Update.
Tags: debt, millionaire, net worth, personal finance, Retirement, savings
As I am posting this a few days after the end of the month, October looked pretty good until the market was hammered immediately afterward. As I mentioned in my earlier post, I have gone ahead and started rejiggering my portfolio to something that resembles my long term views including a healthy position in natural resources.
Also, somewhat unrelated, I think I’m finally swayed to fully fund my Roth 401(k). It hurts a bit in the wallet because I won’t be getting the pre-tax deductions, but I’m just absolutely convinced that the tax bite today will be less than the one in retirement. However, I will be watching it closely as I don’t want to bump up against any nasty income limits (lack of pre-tax deductions could hurt me in some ways). I will be talking with my tax preparer come April to make sure I don’t get any nasty surprises next year.
The market buoyed our net worth by almost $8600 this past month. Also, I’m really enjoying the ~$1000 reduction in my mortgage principal each month (both loans combined). Due to market conditions in the housing market and the fact we feel like our current home can still fit the whole family, we are not in any hurry to buy that more expensive house. In the meantime, we’ll just try to continue saving / paying down the current mortgage.
NET WORTH FOR OCTOBER
|2 Mo Ago Aug – 07||Last Month Sep – 07||This Month Oct – 07||Monthly Change||Monthly Change %|
|Other Real Estate||130,000||130,000||130,000||0||0.00%|
- Went on family vacation for a week to sunny Florida…that will take a bite next month
- Purchased a used laptop for ~$400
- No other biggies I can think of
- No extraordinary expenditures planned
- I still have not taken the next step on life insurance. Everytime I go on a trip overseas I think about it…how foolish. Do something.
- Keep on plugging…