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Net Worth – Feb 2008 March 2, 2008

Posted by pf in Net Worth Update.
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Yesterday, before the markets closed, I thought I would have a pretty good story for the month. 300+ points down and thousands of dollars in paper losses later…no quite so much. For the most part, the month had been decent as we made up some of the ground lost in January. The Fed rate cuts plus the Stimulus Package, seemed to calm things down a bit. Of course, we’re hardly out of the woods yet and volatility appears here to stay for now.

As far as our financial results go, it was a fairly mundane February, with very notable exception that we had a lot of credit card debt come to roost from some recent expenditures including a vacation. Compounding this (at least on the surface) is that we are back into credit card arbitrage again. Ultimately, I’m not that worried, but it doesn’t look great on paper.

As I mentioned during the last update, I remain optimistic about the next couple of months as we should be receiving a boost from our tax return, tax rebate (stimulus package), work bonus, etc. With any luck, it might turn out a little bit like last year, which you can see on my Feb 2008 net worth on networthiq.

Anyway, let’s do the usual and break it down:

  2 Mo Ago Dec – 07 Last Month Jan – 08 This Month Feb – 08 Monthly Change Monthly Change %
Cash 125,954 132,594 130,899 -1,695 -1.28%
401(k)/IRAs 250,650 240,864 248,376 7,512 3.12%
Home 290,000 290,000 290,000 0 0.00%
Other Real Estate 130,000 130,000 130,000 0 0.00%
Total Assets 796,604 793,458 799,275 5,817 0.73%
Home Mortgage 125,957 125,200 124,439 -(761) -0.61%
Other Mortgage 108,006 107,656 107,373 -(283) -0.26%
Credit Card 3,702 4,990 11,431 (6,441) 129.08%
Other 0 0 0 0 0.00%
Total Liabilities 237,665 237,846 243,243 (5,397) 2.27%
NET WORTH 558,939 555,612 556,032 420 0.08%

FEBRUARY HIGHLIGHTS

  • Modified my Portfolio Allocation
  • Contributed a lump sum of $5,000 to Roth IRAs
  • Stock market volatility continues
  • Credit card arbitrage back in effect – need to make sure there are cash offsets!

MARCH PREVIEW

  • Taxes will be completed
  • Work bonus should be received
  • Continue to be mindful of entertainment expenses
  • Spring?

Comments»

1. csodonnell - March 2, 2008

Accidentally happened upon your blog through a search in google “new worth age income” – have really enjoyed reading it and discovering your tips, etc. Was trying to piece together the who, what, when, how of “you”. Is there a “bio” section on your blog I missed. Given my interest in the topic overall – I was looking to see where you fall in the age, income, education, location, etc. (More than anything to see how your family compares to mine) You mentioned several sites such as “networthiq” that I was unaware of, but of all of them I like the “style” of this site – given the “day to day” and overarching questions that apply to us all. Was also curious how you landed on the $4.6MM figure for your goal. To be at your level of savings, in your mid-30’s, with 6 kids and a non-working spouse is truly something to be proud of – Congratualtions on that – as well as a great site.

2. pf - March 3, 2008

I’m glad you enjoy the reading. I guess I have never put up a bio as such (maybe I should?). Let me try to answer some of your questions:

Age: 35
Income: I’ve never actually stated my income, and not sure I’m ready to do so. However, as I have mentioned in other posts, it is sufficient to allow me to fully fund both a 401(k) and Roth IRAs.
Education: I have a degree.
Location: I’ve also kept this to myself in my attempt to maintain anonymity.

The $4.6MM is an inflation adjusted amount based upon some calculators I used. You can see the post here:

https://pfodyssey.wordpress.com/2007/03/06/goals/

I really appreciate your well-wishes. If there is any topic you are particularly interested in let me know. Also, feel free to contact me at pfodyssey@yahoo.com

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