October 31, 2008

October 2008 Net Worth Update (-$3,598.11)

As with most people, October was another brutal month for our net worth. It decreased $3,598.11 from last month to $35,299.10, a 9.25% drop (click on spreadsheet below).

What worked:
We both still have our jobs. Seriously, with unemployment at 7.7% in California, we are blessed to be working. We deposited $661 into our savings account and subsequently pulled $1,000 out of saving to open a stock trading account. We purchased 15 shares of Toyota Motor Corporation (ticker TM) for $63.71/share It is currently trading at $76.09/share.

What did not work:
Our retirement accounts declined by $4,536.50, even though we contributed a total of $1,513 to our 401(k)s and Roth IRAs. No big deal, we’re not touching this money for 20+ years. I’m glad we were able to put some extra money toward retirement while the market is cheap.

Next month:
We have a couple of big annual bills due next month: $1,157 for auto insurance, $439 for condo insurance, and $1,169.14 for property taxes. We should be able to cover most of the insurance bills by cashing in 5 days of my vacation and the property tax bill will come out of savings. I will also be out of town ½ of November on business, so our food and gas should be below budget.

4 comments:

Sammy said...

Overall I think you didn't do too badly

1MansMoney said...

Thanks for the comment Sammy. We feel very blessed to have what we have.

-1MansMoney

Kofi Bofah said...

No credit card debt I see.

Mortgage and student loans shouldn't be too big of a priority. The rates are low, and the interest is tax deductible.

You should organize your liabilities by interest rate. Higher rates take precedence in terms of payments; of course.

1MansMoney said...

Yep, we hate credit card debt.

We're focused more on investing and saving right now rather than paying down our mortgages, student loan, or car loan.

Thanks for the feedback.

-1MansMoney