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Net Worth – Oct 2007 November 4, 2007

Posted by pf in Net Worth Update.
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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 %
Cash 126,560 126,306 125,708 -598 -0.47%
401(k)/IRA 203,820 213,545 221,502 7,957 3.73%
Roth IRA 33,397 35,635 37,212 1,577 4.43%
Home 290,000 290,000 290,000 0 0.00%
Other Real Estate 130,000 130,000 130,000 0 0.00%
Total Assets 783,777 795,486 804,422 8,936 1.12%
Home Mortgage 128,957 128,212 127,463 -(749) -0.58%
Other Mortgage 109,076 108,802 108,545 -(257) -0.24%
Credit Card 4,456 3,039 4,395 (1,356) 44.62%
Other 0 0 0 0 0.00%
Total Liabilities 242,489 240,053 240,403 (350) 0.15%
NET WORTH 541,288 555,433 564,019 8,586 1.55%

OCTOBER HIGHLIGHTS

  • 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 

 NOVEMBER PREVIEW

  • 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…

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