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Monthly Net Worth Update – August 2009 – New Net Worth High
Another increase in our net worth this month pushes us to a new all-time high for our net worth (Ok, so I’m not exactly making Bill Gates worried but I am happy that it continues to increase).
Our assets increased 4.4%
Last month I mentioned that our assets grew mainly due to an increase in our liquid account balances after a few months of stock market returns driving our assets upward. It looks like that might have been a bit of an aberration as this month our asset growth was again driven heavily by market gains. In fact, our liquid assets decreased more than 8% but that was more than offset by strong increases in investments (15%), stock options (51%!), 529 plans (16%), and our retirements funds (10%). Even our house value, according to Zillow.com of course, increased again.
I like the increase we’re seeing though I’m not counting on the upward trend continuing. The market has been doing well recently but I’m still concerned about volatility going forward. That being said, the plan stays the same. I am also not too concerned about the decrease in liquid assets. We have started to pay for our upcoming vacation and also paid some big yearly bills last month (life insurance premiums, for instance) so that accounted for a good portion of the drop. We had saved up for those things though so they were in the plan. And I’m continuing to save up for next year’s big bills too so it is hopefully not a cause of stress when they are due.
Our liabilities decreased 0.5%
There is absolutely nothing out of the ordinary to report for our liabilities as they again dropped the typical monthly rate of 0.5%. I still do not have any concrete plans to do anything interesting to try to rid myself of the mortgage early. I was playing around with Dave Ramsey’s mortgage calculator though and found out that starting next month, even putting in as little as $100 extra per month will save me $48,000 in interest over the rest of the 27 years of the mortgage. Wow! I have to get more serious about this mortgage prepayment stuff. In fact, the mortgage company just sent me an $85 check for an escrow adjustment…maybe I should start with that (and throw in $15 to make it an even $100) and do something….still pondering…
Our net worth increased more than 11%
Overall, our net worth shot up more than 11% pushing it to the highest it has ever been. The previous high point was June 2008 before all the uncertainty in the US economy and stock markets starting take its toll. I think it’s too early to say that we have weathered the financial storm as we are heavily exposed to the stock market right now. That being said, I am happy with our current plan and we will continue to follow it for the foreseeable future.
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