Monday, September 29, 2008

Quarterly Net Worth--Yes, I'm Cheating and No, It's NOT Helping!

I'm computing my net worth as of today, rather than waiting until the true end of the month tomorrow.

From what I hear, now that the House of Representatives has turned down the bail-out plan, the stock market was way off today. So I'll cheat, and use Friday's closing rather than today's.

Not that it helps that much.

For the first time since starting this blog, my net worth is down: $12,680 to be exact, or (because somehow it sounds better when I put it this way!) I'm down two percent for the quarter. My current net worth stands at $587,096.

I'd feel worse about it, if much of it wasn't rather "phony" to start with. How can I seriously feel like I lost $14,000 on my home, which means that it is worth $378,500, when I purchased it in 1992 for $95,300?

And how about my first home, which I now rent out in a small coastal town? It just keeps going up in value. Beats me why that should be, given that the town's economy is so tied to timber and fishing, both of which are dying industries. Inexplicably, the house is now worth $7000 more this quarter than last.

Then there's my debts--nothing to be proud of, there. I am down slightly from last month (that's good), but last month I was up from the previous month (that's bad), and I'm still not back to where I started (that's really bad).

Onward to October! How could bats, witches and black cats make things any worse?

3 comments:

Sharon said...

LOL, don't chance it....I've heard black cats can be very dangerous. I don't want to do my networth because both my home and my retirement went down. I don't want a bail out..let the chips fall where they may for the crooks of wall street. The people will prevail...

Momthing1 said...

I understand your frustration with your debt, because I have been there. Currently, I am feeling frustrated with my "extra" expenses.

I know you have stated that you are 100% equities. If you can "stay the course" through days like today, wow, that's very impressive. It goes to show that you have picked the right AA for you.

All in all, your net worth looks pretty good to me.

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