My Net Worth Says "Ouch"!
Here's a chart of my latest net worth estimate. Ouch!! My 401(k) (pink area at the top) took a hit from the recent stock market decline.
For now though, I'm remaining in the stock market, my 401(k) plan offers some good index funds.
I haven't made any adjustment to my property value (area in green) yet. I have been basing the value of my house on the tax appraisal that comes out one a year. Given the housing market slowdown due to the credit crunch, I'd expect that to happen. But the cynic in me suspects that they'll never reduce the tax appraisal.
3 comments:
One of the frustrating things about an increasing net worth is that you have much less control over its performance..
It's nice when you get "free" bumps when the stock market does well, but when the market drops it seems like you can't do anything to stem the hemorrhaging!
And you shouldn't do anything, you probably won't touch your retirement for a while and so the market will correct itself and go along on its merry way.
I haven't touched my retirement in response to the downturn. But I wish it had happened sooner, while I was contributing at a higher rate so I could add catch-up contributions.
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