Tuesday, January 1, 2008

2007 Wrap-up, Quarterly Net Worth & 2008 goals

OK, the wall-street meltdown notwithstanding, my quarterly worth is up more than $24,000 from September. This is due entirely to increased equity and value in my home and the house I own on the coast (no, NOT a beach house--a 900 square foot, two bedroom home in a dying mill town). Despite everything I hear about the real estate market, it is holding its own in the Pacific NW, particularly for homes worth less than $500,000.

My 401(k) funds are down $9,000 for the quarter, but up $17,000 for the year.

My total indebtedness has actually increased by $56 over the course of 2007. What the figures don't show is that I spent some $7,000 on repairs to my rental house which then became part of my HELOCC, which is now counted as part of my debt. So I did a lot of running in place during 2007.

My net worth at the beginning of 2007 was $536,825. It is now $584,097.

My goals for 2008 are as follows:

1. Reduce non-mortgage debt by $6000;

2. Do not increase credit card or loan debt;

3. Add at least $12,300 to 401(k).

Happy New Year and best wishes for a financially sound future to one and all.

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