It’s the middle of the month and as regular readers know, that means it’s time to calculate my net worth. Last month, my net worth grew from 193K to 207K, an all-time high. As it turns out, the market was at it’s peak. What a different a month makes! This month I’m down to 206K. Considering the condition of the market, this makes me feel pretty good.
My retirement accounts lost nearly $7,000 in the market downturn. That including the my monthly contributions. Instead of being depressed about it, I changed my contribution to take 30% of each pay check. I’ll have to tighten my belt some, but I’ve got enough in savings that I should be able to get by for at least a month without noticing. Next month, I’ll review how things are going and adjust it from there.
The big reason for staying close to even this month is that we’ve tabulated some of the cash from wedding gifts. I had to pause at how to consider this windfall. It was only a brief pause as the costs of the wedding have been weighing on my net worth for some time now. In my view, the gifts just balance off a good portion of the expenditures.
I’m optimistic about the upcoming months. For the first time in the last two years, I don’t have to save for a engagement ring or a wedding. My biggest goal for the rest of this year looks to be to max out my 401k plan and pay off my home equity line of credit (currently at $6000). It is going to be a challenge, but one that I’m looking forward to.