Thursday, June 11, 2009

What a Difference a Year Makes

Looking back at out NetworthIQ numbers its painful to see, that even though we hae been doing everything right with our finances, we are down $70,000 from our high number of $987,000 net worth.

A year ago, I figured we would hit the One Million net worth number by the close of 2008 but then the economy fell apart, my 401K dropped by $70,000, our South Florida real estate holdings are worth less, Mr. Sam's 401K dropped as well.

Presently our 401K numbers have stabalized and we continue to invest both in our 401Ks and our IRAs. Our South Florida real estate investments will likely drop some more in value ( we will know more in the fall) with the hope that our real estate taxes will also come down at least a bit. We continue to put money aside in our emergency fund and save for other goals. We are debt free except for our mortgage(s).

1 comment:

frugalcoconut said...

I just read your entire blog backwards ... in sequence from newest to oldest. I would love to hear more about your background as far as being able to attain such a high net worth ... it seems like you both earn a relatively high income from your jobs/careers but also what else goes into it. I'm hoping that you can provide advice on landlording ... including how long you've owned the properties, how far apart you bought them, how did financing investment properties differ from financing primary home, what were some positive things that you've done versus some things that you would have done differently now that you are wiser, is it ever overwhelming having so much mortgage debt as a liability, how is the actual cash flow now versus a year or two ago versus what you initially planned/expected? I live in South Florida too (Palm Beach County) and am curious if you also own property in PBC or if you're further south in Broward or Miami-Dade ... just to get perspective on your comments. Also I would love it if you could somehow post a permanent link on the blog's homepage with the various useful sites you've highlighted throughout the blog such as Walkscore, iLearn (from iVillage), Rent-O-Meter, etc.