In May of 2008, our net worth totaled $987,376, then the stock market fell apart in the summer and early fall of 2008 and our net worth dropped to $897,080 in October of 2008.
Now in September of 2009, our net worth is back to $987,749. The celebration will be short lived, come November of 2009 I will plug in our Florida real estate values (once we receive final values from the County property appraiser) and I expect our net worth to drop by $200,000-$300,000.
It is easy to get caught up in our NetworthIQ numbers each month, and while I recommend paying attention to the numbers, it is important to remember that the rise and fall of the 401K and the IRA and real estate values are some what illusory. The fact is that there is no profit or loss on the stocks, funds or real estate until we sell same.
1 comment:
Sam, sounds like your NW is very close to ours. You are doing well. We just climbed back over $1 million after first breaking that bar in the summer of 2008. So, the crisis dd not hurt us much overall because we made some smart tactical moves.
Now, I have found that our NW and income makes us attractive customers for lots of businesses and they offer great perks. The problem is that most of these perks are luxury goods we have no interest in. Do you know of any online forums where normal, down to earth people who have achieved a decent NW discuss various ways to get perks and generally make teh best of what they have? Most of what I find is either forums for people climbing the ladder or forums for people that just want to spend what they have amassed at Gucci! Where are the normal people discussing the best places to get fees waived on mutual funds, free services, etc. Things liek this are available but are not heavily promoted. There must be a place where people talk about them.
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