Finally, I'm wrapping up my 2008 numbers! Today I'll tackle net worth, and I'll post expense and income numbers tomorrow.
Here's how my net worth fared this year:
|Cash/ Bank Accounts/ CDs||$38,688||$30,670||26%|
|E*Trade Stocks/Mutual Funds||$12,556||$17,255||-27%|
|Total Net Worth||$298,700||$360,013||-17%|
Given that my net worth goal for the end of the year had been $410,000, I don't feel all that cheerful about this, but there are some silver linings within the cloud.
As you can see from the above, my declines were entirely due to the lousy stock market. My cash accounts were up because I spent less than I earned. For the most part, I didn't transfer much savings from cash into investments this year other than my 401k contributions, but I did put $3,000 into a mutual fund-- the cash performance would have looked even better if not for that! (That also means my E*Trade losses would have looked even worse without the added cash.) I continue to have no debt other than my mortgage-- I had a little more outstanding on my credit card at the end of this year, but I still pay the bill in full every month. And it's nice to see my home equity growing as I pay down the mortgage-- this assumes that the market value of my home has stayed the same. (From what research I've been able to do about sales in my area, I think this is still a reasonable assumption, but we'll see how things go with the NYC real estate market!)
The bottom line is that I did a pretty good job on things I could control... and got royally screwed by the things I couldn't control! Oh well... onwards and upwards nevertheless!