Net Worth – Jan 2008 January 31, 2008Posted by pf in Net Worth Update.
Tags: average net worth, CD, certificate of deposit, Credit Card, debt, january, net worth, stock market, what should my net worth be
Welcome to the first net worth update of 2008. It is no surprise to anyone that the new year has not gotten off to a good start. Amazingly, it was only 2 short months ago that my equities portfolio hit a high of ~$252,000. Fast forward to now and we sit at ~$241,000…and that includes both the additional investment I made (couple of thousand) and the recent gains over the last few days (several more thousand).
However, I’m not overly pessimistic…yet. I have created a couple of CDs that will yield over 5% for the next 12 months, and with any luck, likely to get some additional cash infusions in the coming months (tax return, bonus, etc). Also, I found myself with a little additional cash this month which softened the blow a bit with a decrease in my net worth of only -$3327.
Alright, let’s break it down:
NET WORTH FOR JANUARY 2008
|2 Mo Ago Nov – 07||Last Month Dec – 07||This Month Jan – 08||Monthly Change||Monthly Change %|
|Cash||$ 126,076||$ 125,954||$ 132,594||6,640||5.27%|
|401(k)/IRAs||$ 252,050||$ 250,650||$ 240,864||-9,786||-3.90%|
|Home||$ 290,000||$ 290,000||$ 290,000||0||0.00%|
|Other Real Estate||$ 130,000||$ 130,000||$ 130,000||0||0.00%|
|Total Assets||$ 798,126||$ 796,604||$ 793,458||-3,146||-0.39%|
|Home Mortgage||$ 126,709||$ 125,957||$ 125,200||-(757)||-0.60%|
|Other Mortgage||$ 108,267||$ 108,006||$ 107,656||-(350)||-0.32%|
|Credit Card||$ 6,121||$ 3,702||$ 4,990||(1,288)||34.79%|
|Other||$ 0||$ 0||$ 0||0||0.00%|
|Total Liabilities||$ 241,097||$ 237,665||$ 237,846||(181)||0.08%|
|NET WORTH||$ 557,029||558,939||$ 555,612||-3,327||-0.60%|
- Stock market in the tank…down about $9800. Ouch!
- Christmas spending comes to roost…credit card balance increased by ~40%! Ack!
- Cash up quite a bit due to an unexpected boost. However, it will be short lived as I also have some upcoming expenses that will bite into it.
- Things should now be back to “normal”
- File tax return
- Watching for opportunities in the soft market (mortgage refinance, stock market, etc)
- Stay with plan to reduce entertainment expenses