Time for our Monthly Update:It is 2014, time for a new year. A year of frugal living, and of maximizing savings!
Here is our Net Worth Standing for January 1, 2014:
Assets: $615,419.04 - Liabilities: $156,288.59 = Networth: $459,130.45
Net Change = increase of $21,172.54
First off, this month is unusual, as we were given $10k by our VERY generous families to put towards our Roth IRAs. We planned to put money towards our Roths ourselves, so that money is now earmarked for next year.
Second, the markets ended on a great upswing in 2013, so they helped boost our retirement. They say it takes money to make money and in this case we saw the benefits of it.
Looking at my overall Retirement portfolio (not including my Pension, which I don't control), we made approximately 21% on our market investments in 2013 (which equated to about $36k). Over the past 10 years I have learned to diversify and absorb risks. My worst year was a loss of 35%, and my best year was a gain of 32%. On average, over the past 10 years we are seeing a return of around 9%. Pretty close to what we would expect on a historical average of over 100 years, so we will keep plugging away.
So we have our Baseline for the beginning of 2014 - By next January 1st - I want to see that Net Worth over $559,000 . . . stay tuned.
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