I missed posting this in the middle of the month; I wanted to get some articles posted last week that I felt were more interesting. I did manage to grab a snap shot of my accounts from the 15th. With the stock market dropping like a ball on New Year’s Eve, I knew it wasn’t going to pretty. Last month my net worth was $219K. This month, my net worth is $213K.
Here is a quick breakdown of what happened:
- My retirement accounts got hit to a $5,000 loss. If I were still working steady and contributing to a 401k, I would actually be excited about this drop in the market as a good buying opportunity.
- The value of the home equity in my “investment” property dropped $3,000. The other condos in the complex are as cheap as I’ve ever seen them. The property is worth about 10% less than when I bought it in 2005. (For those unfamiliar with my investment property, I bought it as my primary residence, but life intervened and I moved leaving me the option of renting at cost or selling at a loss. I chose to rent at cost.
While I didn’t expect my net worth to grow under the circumstances (I’m not maximizing my income potential), I thought I would still gain each month. I’m much too reliant on the stock market and the real estate markets for growth. In the past these have been good places to invest and I believe that will continue.