I suppose I have a few more days before the year is officially over, but I wanted to do my end of year tally to see how I am finishing. My last update was at the end of October, so the change in value is for two months. Not a bad increase of $4,541.20, especially given the decline in market value of most of my mutual funds in December. However, in general a net worth increase of less than $2,500 per month is not enough.
Totals and notes below...
Notes:
My net worth at the end of 2006 stood at $154,321.48. My total change in net worth for the year 2007 was $41,699.25 in dollars, and 27.02% in percentages. A good year, but I'll have to sit down and do the math on how much of that came in the form of current contributions, and how much of it is the result of market gains and interest payments.
The oddity on the balance sheet is the GM card balance. I did a 0% balance transfer from Chase, and moved it to the folks at GM. I am still waiting for them to process the payment and send me a check for the credit balance. That money will then go into a CD for the balance of the time that the 0% balance transfer is available.
Net Bank has gone buh bye. The money has been merged into my ING account. As Emigrant dropped their rates, I began pulling the money and putting it into my Schwab Brokerage account. The Schwab Value advantage rates are better than Emigrant or ING. However, with the Net Bank money going to ING, my balance there is not excessively large, especially given that their rates are even lower than Emigrant.
Congrats on the increase. Good Luck in 2008.
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