Net Worth Statement - October 1 2008 (-3.85 %)

Posted October 1, 2008 by Chuck Posted in:

Net Worth

Taxable Accounts:

$771.26 - Liquid Savings - 3.25% APY HSBC Savings Account
$15,644.35 - Savings - 3.50% APY Countrywide Savings Account
$6,334.56 - Checking - 2.2% APY Schwabb Investor Checking Account
$15,292.03 - Stocks - Misc. Direct Investments
$3,838.72 - Stocks - Ameritrade Izone
$2,864.72 - Stocks - Zecco
$2,730.62 - Bonds - TreasuryDirect

$47,476.26 TOTAL

Retirement Savings:

$15,222.01 - ROTH IRA - Vanguard
$879.21 - ROTH IRA - Scottrade
$53,561.34 - 401K - T. Rowe Price

$69,662.56 TOTAL

Debts

$2,676.45 - Student Loan - AES (3.625%)
$2,604.89 - Credit Card BT - Chase (0%)
$16,225.12 - Credit Card BT - BOA NEA (0%)
$6,745.50 - Credit Card BT - Juniper (0%)
$4,454.13 - Credit Card BT - Bank Atlantic (0%)
$17,887.44 - Credit Card BT - Upromise (0%)

$50,593.53 TOTAL

Housing / Automobiles

$261,169.42 - Mortgage - Countrywide
$339,500.00 - Approximate Home Value
$8,545.00 - Approximate Car Value - Edmunds.com

$86,875.58 - TOTAL (Approximate Equity)

Networth Breakdown

Assets		$ Diff	% Diff
Cash	$22,750	($567)	-2.43 %
Stocks	$21,995	($1,408)	-6.02 %
Bonds	$2,730	$13	0.48 %
Retirement	$69,663	($6,154)	-8.12 %
Home	$339,500	$0	0.00 %
Cars	$8,545	$30	0.35 %
Total Assets	$465,183	($8,086)	-1.71 %

Debts		$ Diff	% Diff
Home Mortgage(s)	$261,169	($490)	-0.19 %
Student Loans	$2,676	($44)	-1.62 %
Credit Card	$47,917	($1,407)	-2.85 %
Total Debts	$311,762	($1,941)	-0.62 %

Net Worth	$153,421	($6,145)	-3.85 %

NetWorth

Summary

I’m sure just about everyone whos net worth is as heavily invested in the market as mine is down this month. Lost about 8% of the value of my portfolio over this timeframe. The good news was I was able to pay down some debts at the same time which at least gives me a bit of a moral victory.

Strangely the value of my car went up this month according to Edmunds. I checked it twice. I don’t think its quite at the age where it is becoming a classic… perhaps 6 year old mid size cars with average gas mileage are making a comeback.

Monthly Goals

I’m not really sure whats going to happen with the market. I’m not an economist by any means, but from what I’ve seen if we pass this bailout plan then the market will recover (at least temporarily) but the value of the dollar will be decreased. Good for my net worth statements, but not so sure that’s good long term. If we don’t pass it, we could be in trouble for a few years but that would be more fiscally sound for the future.

Other than that, it also seems its becoming increasingly difficult to find good 0% credit card offers. I will have to dig deeper to transfer some of my expiring 0% offers over to new cards.