I finally have all my numbers together, so here's the dirt:
12/31/05 Net Worth: $256,340.14
12/31/06 Net Worth: $312,771.78
Gain: $56,431.64, or +22%
Where did these gains come from?
My total inflows for 2006 came to $123,038.24. That includes salary, bonus, employer's contributions to my 401K, tax refund, gifts, realized gains from selling some investments, and other interest/investment income.
My total outflows for 2006 were $118,386.19. I'll go into more detail about all my expenses in my next post, but it's worth pointing out that more than half of that outflow related to my condo purchase, a lot of which went straight back into my net worth as home equity, rather than actually being an expense.
So the $56,431.64 increase comes from, mainly:
- $15,000 401k contribution
- about $20,000 investment gains/income
about $5,000 cash savings from paycheckUPDATED: that was an error. If all the condo costs are factored in, I did not save any cash. So I think the investment gains must have been higher. Like I said, buying a home makes this all much more confusing! But I think if I hadn't bought the condo, I would have saved almost $12000 out of my paychecks. I think.
- the rest is home equity.
Stay tuned for more details about expenses, budgeting, and a 2007 to-do list.