My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


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Monthly Update - January 2009 ($796,679, -$11,654)

Contributed by mm | February 1, 2009 12:30 AM PST

networthicon.jpgWe continued to live below our means and save a huge portion of our income. But even though our portfolio is only mildly exposed to equity investments, we still took a hit from worst market performance in any January since 1928. As a result, our net worth retreated 1.4% and dipped below the $800k mark.

On the other hand, our mutual fund automatic investment plan is in its full throttle. $23,000 net purchase was made in the month, bringing our total investment exposure as a percentage of net worth by two points to 33.4%.

BALANCE SHEET

net-worth-0901.jpg

NOTES

- The entire credit card balance is in 0% APR balance transfer deals or spending in the last 30 days.
- Tax liability grows as a result of incremental investment losses.
- Life still goes on … the MM family is celebrating Chinese New Year in a beach vacation in Hawaii. We are off to see the volcano!

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This Post Has Received 4 Comments. Share Your Opinions Too.


York Commented on February 1, 2009

MM - Do you perform any budgeting and projections at the beginning of each year? What are these looking like for 2009?


Michelle Pesto Commented on February 3, 2009

Completely off topic here, but with the economy and all ...
Does it make sense to pay down on my mortgage by making extra payments if I plan t sell the house in 5 years or less?


MM Commented on February 4, 2009

Michelle, the short answer will be: if you will still have a good cash cushion for unexpected emergency, and you cannot find better use of your cash (say credit card repayment, or any other higher interest rate loans, or taking risks in stocks, etc.), it doesn't hurt to hasten some mortgage payments for predictable gain.


Michelle Pesto Commented on February 5, 2009

THANKS MM I really appreciate it, I'm trying to learn ways on how to leverage my money so that i can have more disposable income...any ideas?



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