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Net Worth – Nov 2007 December 5, 2007

Posted by pf in Net Worth Update.
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November was a bumpy ride to say the least.   Mostly, this was due to the continued unveiling of losses due to subprime business coupled with what has been a general gloomy feeling among consumers and economists alike.  However, the holiday shopping season showed some strength , there seems to be a plan in the works between our govt and some of the larger financial institutions to deal with the loans that are soon to reset (and potentially create a spike in foreclosures) and most everyone loves the prospect of a Fed rate cut that is steadying things a bit as I write this today.

As to my own personal finances, it was a fairly uneventful month with the exception of the market gyrations I mentioned above which pulled us down about $6,500.  This alone accounted for most of the total change in our net worth for November .  However, the optimist in me decided to plow in an extra $1300 in my Roth IRA to go ahead and max out my contributions for 2007.   I still have my wife’s Roth IRA to deal with, but I thought better of trying to take so much cash out at once (wife doesn’t like to see big lumps of cash going out the door at the same time…regardless of the reason). 


One thing I have noticed is that our cash has essentially stayed flat since reaching its peak in May at $127, 274 (currently $126, 076).  Granted, I have probably made a couple of investments here and there and we of course had our recent vacation, etc.  However, net liabilities have still gone up the last two months (total increase of about $1000 since September).  I do not like that….especially when you consider that I should be taking $1000 off the top from my mortgages alone!  I will keep watching.

Anyway, here are the results:

NET WORTH FOR NOVEMBER

2 Mo Ago Aug – 07 Last Month Sep – 07 This Month Oct – 07 Monthly Change Monthly Change %
Cash $ 126,306 $ 125,708 $ 126,076 368 0.29%
401(k)/IRA $ 213,545 $ 221,502 $ 215,772 -5,730 -2.59%
Roth IRA $ 35,635 $ 37,212 $ 36,278 -934 -2.51%
Home $ 290,000 $ 290,000 $ 290,000 0 0.00%
Other Real Estate $ 130,000 $ 130,000 $ 130,000 0 0.00%
Total Assets $ 795,486 $ 804,422 $ 798,126 -6,296 -0.78%
Home Mortgage $ 128,212 $ 127,463 $ 126,709 -(754) -0.59%
Other Mortgage $ 108,802 $ 108,545 $ 108,267 -(278) -0.26%
Credit Card $ 3,039 $ 4,395 $ 6,121 (1,726) 39.27%
Other $ 0 $ 0 $ 0 0 0.00%
Total Liabilities $ 240,053 $ 240,403 $ 241,097 (694) 0.29%
NET WORTH $ 555,433 $ 564,019 557,029 -6,990 -1.24%

OCTOBER HIGHLIGHTS

  • Vacation bills were due!
  • I mentioned last month that I would start making progress on purchasing additional life insurance.  I researched our current insurer for our auto / mortgage.  I’m still investigating.
  • No other significant purchases

DECEMBER PREVIEW

  • Will be making significant purchase of discounted gift cards that we will resell
  • Christmas shopping will invariably take a bite
  • How can I best maximize the returns on our cash where interest rates look to continue heading downward?
  • Whatever else comes along…
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