I think I’m going to be lucky if I reach the peak of my 2007 net worth.
The reason is two-fold.
1. I am taking a bath in the markets lately in my retirement accounts. Coupled with my low contribution rate in 2008, I think I’ll be lucky to be flat and not lose anything in the funds I hold. I have shifted some money around to re-allocate to a heavier international portion, but honestly, I think things aren’t look too good globally either.
2. I just got my 2008 real estate assessment and I’m taking a $4k hit on the value of my condo. No worries though, I’m still up 14% on my original purchase price from 3 years ago. Unlike other people who bought at the top of the market, I bought an undervalued property and am still enjoying a positive increase in valuation. With the way regional planning is being done, I actually am primed for a huge increase in value in my property in the next 5-10 years. (They’re putting a new trolley/lightrail system a few blocks away, which they want ready in less than 10 years.)
Add on all that some changes in cash flow with my job transition and I’m holding onto cash as much as I can right now, but it’s been tough since I know I have to upgrade my wardrobe and I cannot submit my eye surgery to my new Medical FSA account just yet.
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{ 2 comments… read them below or add one }
Don’t worry about the hits right now, we’re all taking a bath right now. Just remember to keep investing – it’s a great time to buy low.
How are your eyes doing? My father had the surgery several years back and had great results.
And, to learn more about you, I’ve tagged you at my blog.
All the best.
Well at least you’re still young, you have time for the market to recover if 2008 turns out to be a sucky year.