Net Worth – Apr 2008 April 30, 2008Posted by pf in Net Worth Update.
Tags: 401k, average net worth, CD, certificate of deposit, Credit Card, debt, march, net worth, Retirement, roth ira, stock market, what should my net worth be
My net worth in Sept 2007 was $555,433 and in Feb 2008 sat at $556,032 for a whopping gain of $599 (I guess I should be thankful it wasn’t negative?!). In March, we finally started to see some healthy movement to the upside. This month, the stock market followed it up with a strong showing that pushed my net worth to $598,677. I don’t know whether it will be short-lived, but a treat to see an increase two months in a row.
In general, April was another quiet month with no major purchases to speak of. However, I did complete my 2008 Roth IRA contributions (trying to buy while it was down…hopefully as low as we’ll see in 2008). Anyway, here is the breakdown:
Newsweek: Spending Spree Over April 21, 2008Posted by pf in Expenses and Savings.
Tags: bailout, bankruptcy, debt, economy, GDP, mortgage, net worth, newsweek, spending, subprime
I came across the following article from Newsweek
Essentially, the writer outlines how the spread of credit created a boom in spending that had both positive (increased accessibility to funds for housing, etc) and negative (overspending) effects. Due to the current crisis and the generally indebtedness of our population, the author wonders if the era of free spending which generated significant growth not only in our own economy but for others around the world is over and what it may mean.
In my view – GOOD. I have waxed on about similar topics in the past where I have expressed concern about our country ranging from the dire state of personal finances (too much debt, too little savings) to broader topics such as the crisis we are facing with Social Security and Healthcare.
I remain deeply distressed and concerned about the path we are on and the recent bailout proposals for both businesses and consumers who have made foolish mistakes and may be saved via a taxpayer rescue only strengthen this view. WAKE UP.
Housing Package: Some Sanity April 9, 2008Posted by pf in Taxes, Uncategorized.
Tags: bankruptcy, congress, foreclosure, housing package, john mccain, mortgage mess, speculator, subprime, Taxes
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Today I read an article from Newsweek entitled “Tax Breaks for Bubble Heads“. In it, the author, Daniel Gross outlines “Congress latest dumb idea to fix the housing crisis”. Although I think this thing has too much momentum to stop, I take some small consolation that there are voices of reason trying to be heard. If you share similar views, I encourage you to write about them…maybe the chorus will grow.