. I went to update my net worth on NetWorthIQ.com but I'm getting a weird message that they can't validate their credentials, so I'm afraid to log in there.
So I'll update my net worth here.
As of 12/31/11, it's $461,436, not including the house.
Compared to a year ago at this time, I'm DOWN $24,866. Bummer. I have to chalk that up to withdrawing $13,000 for vinyl siding last summer and withdrawing another $17,000 to throw at my dwindling mortgage balance. The rest of the difference must be attributable to the vagaries of the stock market. Normally, I'd be investing part of my income to compensate for this.
But compared to 2 years ago at this time (2009), I'm UP $146,210. (I guess that's when the stock market was still in a deep trough.)
If you include my home value, based on the most recent Zillow estimate, which gets emailed to me regularly, my net worth is $747,652.
Net Worth, 12/31/11
December 31st, 2011 at 06:46 pm
December 31st, 2011 at 07:06 pm 1325358400
Until he put it like that, I myself had never thought of it that way. It was quite a paradigm shift for me when I got his point.
We paid ours off around Year 16/17, well ahead of the 30 year mark and it felt GREAT!
Re: Net worth calculations with or without home value - agree this can be confusing. We tend to not include the value of our home in our net worth because we recognize we do have to live somewhere. Unless, of course, we elect to downsize or move to a less expensive area at some point.
Job well done. :-)
December 31st, 2011 at 07:12 pm 1325358723
I have hesitated to pay off the remaining balance becus I'm concerned about reduced liquidity. I'm not working full-time and feel a little nervous with just $64K. That may sound funny, but when the market was better and I was contributing regularly, my taxable savings were over $100,000.
The other factor I weighed was the fact that I'd have to sell mutual funds currently invested in international stocks and take something of a loss.
December 31st, 2011 at 08:08 pm 1325362082
If stocks come zooming back, so, likely, will the value of your home, therefore selling stocks "low" if you will, would likely be offset by the other. However, at the end of the day, you have to do what makes you feel most at peace. And that's probably the best financial advice of all time!
December 31st, 2011 at 08:23 pm 1325363031
December 31st, 2011 at 08:59 pm 1325365182
If you never pay another extra cent on your mortgage, how many more payments to go? Couldn't be too many more.
December 31st, 2011 at 09:43 pm 1325367789
I think my monthly is just $600, so I believe it will be about 15 months before I pay it off. It will be one exciting day. I might just buy a bottle of wine.
December 31st, 2011 at 10:02 pm 1325368941
January 2nd, 2012 at 12:42 am 1325464929
How exciting to be so close to paying off your home. You are doing everything right to prepare for retirement.
January 5th, 2012 at 05:59 pm 1325786386