So this is the end of the year and december wrap up for our net worth. It’s been a bad year obviously for investment but at least we still are working and contributing. Things could obviously be worse. We’re debating contributing to our Roth IRA this month, instead we are considering waiting till the end of 2009. This is due to the fact that my DH is considering starting his own business and would rather keep the cash for start up costs. If he doesn’t start the business we’ll contribute to the Roth IRA sooner.
| January-08 | December-08 | January-09 | Ann. % Diff | |
| Assets | ||||
| BofA | $3,227.09 | $3,023.52 | $6,704.08 | 107.74% |
| HSBC | $2,510.04 | $1,152.03 | $1,157.84 | -53.87% |
| Firstrade | $18,680.90 | $7,035.84 | $7,372.57 | -60.53% |
| 401k | $9,351.31 | $18,736.73 | $22,502.07 | 140.63% |
| Rollover IRA | $38,895.35 | $28,988.95 | $28,678.92 | -26.27% |
| DH Roth IRA | $8,322.38 | $13,982.92 | $13,842.76 | 66.33% |
| DW Roth IRA | $11,217.42 | $12,197.35 | $12,184.97 | 8.63% |
| Home | $575,000.00 | $575,000.00 | $575,000.00 | 0.00% |
| Total | $667,204.49 | $660,117.34 | $667,443.21 | 0.04% |
| Liabilities | ||||
| Mortgage | -$441,288.00 | -$434,898.04 | -$433,450.00 | -1.78% |
| Student Loans | -$12,750.00 | -$21,250.00 | -$21,250.00 | 66.67% |
| Total | -$454,038.00 | -$456,148.04 | -$454,700.00 | 0.15% |
| Net Worth | $213,166.49 | $203,969.30 | $212,743.21 | -0.20% |
As you can see we basically kept our Net Worth the same over 2008. Not a great thing considering we maxed out a 401k @ $15.5k, 2 Roth IRAs $10k, and a 401k match of $6k from the company. So we should have increased by contributions alone our net worth by $30k in our retirement account. We also paid off $7500 of our mortgage, which was close to negating our increase in student loan debt of $8500.
Well the year was still really great to us. We enjoyed many mini-vacations this summer and one large vacation at Christmas. We have jobs. Our families are healthy and doing great, so overall the year while bad financially has been great otherwise.
How was your year?
1 response so far ↓
1 fengshui // Jan 5, 2009 at 7:05 pm
We have a negative net worth.
So, not as good of a year as yours!
We have “around” $10k in equity in our house, so that negates most things right there. Thankfully my area has not been hit with lost value….
We’ll be upside down on net worth for probably five more years (just being realistic), due to the fact that between DH and I, we’ll have almost $40k in student loans by the time he graduates next year.
Only have “about” $25k in retirement, so far
CC debt is almost gone, but I do have 1 year left to pay on my car
So, sad to say, RED…. RED….. RED……
But, we have goals, and are ambitious, and will make things happen…..One step at a time!
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