Net Worth Update… Good News Edition
Posted on May 11, 2009 9 Comments
Spring is here, the market has been looking up lately and I’m in need of some good news to prevent me from starting another ridiculous project. Time for a net worth check in to help me refocus on my goals.
The first time I checked my net worth in February 2006, it was a whopping $2,600. Most recently in July 2008, the total had grown to $64,000, and I felt like a rock star. But… it’s been a crazy year and July 2008 happened before I lost 40 percent of my 401K and we became a one-income household, so let’s see where I stand now.
(I pause here to calculate my net worth. It takes a while. Maybe you should go get some chips or something…)
(OK, I’m back with an update…)
Holy. Crap.
I am super pleased to say that despite the sputtering economy, my net worth has grown to a very healthy and respectable… $82,000! I’m in shock!
I thought for sure my number wouldn’t have grown, but I have been putting cash away in my downpayment savings fund, my student loan will be paid off within the next year and I haven’t taken on any more debt.
So what am I counting? Here are my categories:
ASSETS
- Checking
- Bank Savings/Emergency Fund
- Downpayment Savings Account
- 401K
- Cash Balance Plan (Retirement)
LIABILITIES
- Student Loan
I think staying away from significant debt while I paid off my student loans really helped me to find a happy balance that allowed me to save. When I’m done paying my loan, I’ve been quietly thinking to myself that I might buy a car (it would be my first) since ours is paid off and more than 10 years old.
But now I’m getting ahead of myself. For now, this little piece of good news will attach itself to my heart like makeshift angel wings. I’m stable and I’m going to get through this economy. And for that, I can celebrate.
Category: Money
Tags: Net worth
Comments
9 Responses to “Net Worth Update… Good News Edition”
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May 13th, 2009 @ 4:45 pm
Hi Nicole
hi,
I want to ask something about your blog?
Could you please add my blog to your blog’s “blog roll” or “friends” section ?
if yes : please add as Finance Blog
and my blog : http://finance.varolmak.com
thank you very much ( english is not my mother language, sorry if it is bad )
May 13th, 2009 @ 7:32 pm
Nice! You don’t see that every day
Let’s hope this economy starts turning around for good too – maybe it’ll be $100k the next go around?
May 14th, 2009 @ 1:36 am
Nicole,
I noticed the same type of thing. I recently (Oct. 2008) saw my TSA decrease immensely due to the price of shares declining. To my surprise, I received my statement for April and saw that due to all of the shares I had continued to buy each month (I kept contributing the same amount and was buying oodles of shares as opposed to a few each month) my portofolio improved by 15%. I was thrilled.
I guess this is just a testament to not panic, especially if you are more than 5 years away from using your money.
So, cheers to all of us who rode out the slump in the stock market. Taking a breath and having patience paid off this time.
May 15th, 2009 @ 2:04 am
Congrats and keep up the good work!
October 15th, 2009 @ 9:31 pm
Net worth is UP. Always a good thing. Unless your net worth is inflated with debt…great post.
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