Net Worth Update July 16, 2008 [$102,416.87(-9.57%)
Welp, the landscaping and deck building this past week dug deep into the e-fund and overall numbers so they’re not really as bad as they show up because they should both pay off more than the 8k-ish spent on them.
Be sure to enter Hanks Holiday Handouts #3 before Aug 6 to win your share of $300!
The deck was actually the Trex decking that doesn’t mold, need to be re-stained, no maintenance. I think it was (and will be) very worth it in the long run.
The rest of the portfolio dove pretty hard along with the rest of the country. I am still sticking in 15% on my 401k and am at $2600 into my ROTH for the year, so I’m still trucking along there.
Although it is disappointing to see cash leaving my account, the positive is that I’m getting good funds at cheaper prices by using the dollar cost averaging. I wrote about a similar post last week when Lazlo asked if he should keep his $ out of the stock market because it was doing poorly.
As you can see, I am taking my own advice (go figure) and not going anywhere. I don’t plan to go “anywhere” for another 30 or 40 years, so I’m going to see bumps like this; no worries though.
Filed Under: 401K • Budgeting • Compensation • Credit • Credit Cards • Debt • Emergency fund • Frugal • House • Investing • Mutual Funds • Net Worth • Passive Income • Portfolio • ROTH IRA • Real Estate • Retirement • Timeshare • Traditional IRA • financial education
It is always a bummer to see your net wealth go down during any period of time. Especially down a significant amount like 10%. This year my net wealth has shrunk about 90% (but this was because of sickness, study and generosity). Now I am building up my net worth again and I begin to become a more successful entrepreneur. Good luck next month I look forward to hearing the results
Ryan @ Smarter Wealth’s last blog post..Book Review: Sydney Entertainment Book
Any account with diversified holdings such as mutual funds, for the most part, have been killed in the last few months since they simply follow the market.
As a person in my 20s, diversification isn’t my goal. However, with most 401(k) plans you don’t have a choice and a 401(k) is a great thing to participate in.
I’d recommend focusing on a few key stocks in your Roth to try and avoid similar performance.
Other than that, your net worth analysis is fantastic and you’re on your way to some serious wealth. As you said, no sense in sweating the short term fluctuations. Stay focused on your long term goals!
Kevin at 20s Money’s last blog post..20s Money Portfolio Update: Bought Apple at $148.90
Falling stock prices are a wonderful thing if you still have a lot of accumulating to do. I’m reading a pretty dense book* right now about the stock and bond markets from the past century. It’s fascinating how cheap stocks have been in the past, considering their relatively high prices today.
Of course, we might look back one day and long for the “cheap” stocks of the 00’s or we could have a decade or two of dropping prices which would be a great opportunity from my perspective.
*The Trouble With Prosperity by James Grant
Aaron Stroud’s last blog post..The real cost of that hamburger, movie, or kid
I agree: it’s temporary.
I love reading your updates! They’re inspiring.
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