September 2008 Net Worth
Despite the economic turmoil, I managed to end the month on a positive note - sorta. My September Net Worth is $160,454 - a $2,105 or 1.31% increase over August 2008.
The reason I say “sorta” is because August net worth was calculated around the 10th of the month, instead of the 1st, so it reflected lower numbers than usual - specifically in cash. On the other hand, September numbers were pulled on the 1st of the month, as usual, resulting in higher numbers to show a significant increase.
What can I say about retirement? *shrug* I expected worse. I didn’t read ANY newspapers or online articles at all yesterday so I have no idea what happened in the market since Tuesday. Although the loss is ($1,356) compared to last month, the real reduction is way larger from a dollars and cents perspective. I invest over $1,500 per month, so it feels like I put 28 benjamins in the shredder.
My non-retirement accounts are on a shorter term horizon so they aren’t invested as aggressively. Seeing an increase, albeit small, this month is validation of my investment decisions. It also doesn’t hurt that one of these accounts holds a piece of the Warren Buffet pie.
In property, I made a quarterly adjustment and reduced the value of my car based on kbb.com. I should probably adjust the other items, but I don’t have a source to accurately assess their values. Until I do, they will stay the same.
Liabilities consist of credit card balances only - always paid in full.
SEPTEMBER INCOME & EXPENSES
Net Income:$11,176
Total Expenses: $9,806
- Saved: $1,346
- Bills: $3,236
- Necessities: $803
- Non-necessities: $873
- Business: $3,548
Net Cash Flow: $1,370
Things Worth Noting:
My rental property is no longer a financial burden. With new tenants, I don’t have the extra expense of paying mortgage AND rent. They paid October’s rent in September and I’ve spoken to my old neighbor at least twice last month. No problems. So far so good.
The blog is still holding its own, even with a neglectful owner and irregular posts. Shame on me! But thanks to all of you who continue to visit when I’m slipping!
There’s nothing unusual in the expense category, but these were my highest non-bill expenditures:
- $157 on gifts
- $159 on entertainment
- $170 on gas
- $217 on dining out
- $290 on dry cleaning
On an unrelated note, I decided NOT to renew my expired CD so I moved it back into HSBC. I still have a $5k CD at 4.84% with the credit union, but I didn’t want to tie up the $7k again. Considering our current economy, I prefer to have most of my emergency fund easily accessible. With HSBC, I get the benefits of an online account (competitive interest rate) but the privileges of a brick and mortar (ATM card).
Vanguard is on my list of things to do. Yes, I still plan to invest and I will have my $3k by December. If Vanguard goes belly up before I have the cash, I’ll invest it somewhere else.
That is all.
~*~*~*~*~*~Work to achieve, not to acquire.
And always, BE FABULOUS!
This blog is the story of my life...a single mom who worked her way from nothing to financial freedom. Subscribe here and follow the rest of my journey.
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Have you read the Fabulous Financials comment policy lately?
just stopping by to let you know that I am still a daily reader. I still learn a tremendous amount of info from you. You would be proud of me…my ing account made it over the $5,000 mark this month. I’m well on my way to saving my first 10,000.
Wooo Hooo, CONGRATULATIONS!! I remember that first $10k. Keep your eye on the prize and think of ways to reward yourself with each milestone. [-SM]
While we have become a victim of the nations housing situation, we are still optimistic AND are in a position to bounce back because of what you’ve taught me.
Part of my resilience is learned survival from the school of hard knocks. When times are hard, making due is nothing new. Growing up in the ‘hood does have its benefits. LOL [-SM]
Your the greatest. Thanks sis, you’re pretty fab yourself! [-SM]
JP
glad to know things are looking good with the rental and that the retirement didn’t take the hit you thought it would. and remember, your continued retirement contributions are buying more shares, even if they’re not increasing the current dollar value of your accounts. That’s the only reason I continue to invest. [-SM] it’s funny how everything is relative, because losing that amount on paper would kill me psychologically because we’re working on a different scale. i’m glad you can lose that and keep on stepping. LOL @ keep on stepping. Don’t let the smooth taste fool you! I’m DYING on the inside! [-SM]
I have a question for you.. Have you ever thought of investing in a cash value life insurance policy? Thanks. =)
No. [-SM]
Did you pay off the house or do you just list the equity?
You have a few hundred thousand to give away? [-SM]
Hello, I am a new reader of your website and I am also in the financial industry. Just a suggestion, you may want to look into types of retirement accounts which have a guaranteed minimum. So even if the markets go up and down, you will be guaranteed a mninimum amount of earnings.
Hi there, welcome and thank you for visiting! What type of retirement account has a “guaranteed” minimum? Educate me. [-SM]
Looks like your investments faired much better than mine did. My 401k alone went down over 7% this month.
Great increase in the time of Pandemoneum! How was the spa? Always necessary to enjoy the spa at least once or twice a year.
IAW my 2008 ‘to do’ list, I try to go once every quarter. The massage was fabulous, as usual, but I didn’t enjoy the facial at all. I think I got a new chic this time and I was NOT pleased. Almost loss my breath when she made the steam blow DIRECTLY on my face, she didn’t moisturize enough so the latex gloves felt icky against my skin, and after exfoliating, the heffa started SQUEEZING ish with her FINGERS. Can you say OUCH and WTF?!! Needless to say, I will make sure she never touches me again. After getting over the shock, my day of leisure was relaxing. [-SM]
Ha Ha Ha, I knew you was going to come out with something slick!!!
I’ve heard of a Retirement account from ING that guarantees 7%.
I searched the site and didn’t find it. ING has checking accounts, saving accounts, CDs, IRAs (Roth and Traditional), and Sharebuilder - none of which “guarantees” a 7% return. Please point me to this “retirement account” that you speak of. [-SM]
grrreat job of increasing that net worth! your monthly net income blows me away!! Why is that? You know I earn $100k+ from the CSS, plus RE, freelance, and blogging income. [-SM]
and argh, sorry, paranoia is setting in…are there rumors about Vanguard closing?? I hadn’t heard anything but I sometimes don’t get a whole lot of news here in NZ. No, not that I’m aware. I was just being sarcastic. [-SM]