Net Worth update - March 2007: Up 7.7%

As of the end of last quarter, our Net Worth was $570,651.

Our Net Worth increased by $40,636 (or 7.7%) in this quarter. Of this, $20,216 is new contributions we made to our accounts (including employer match in 401k accounts), $2,495 is from increase in home equity due to mortgage payments we made, and the rest ($17,925) is due to investment income and unrealized gains in our accounts.

Most of our holdings are in tax-deferred retirement accounts. This is intentional, since I want to "front-load" our tax-deferred accounts, so as to make the most of the tax benefits.

It was only a few years ago that we got serious about saving and investing. I will post updates for every quarter from now so that I can track our progress towards accomplishing our goals.

Related links:

4 comments:

Prasanth said...

Hi,
What does "Cash Balance Pension" mean?

Regards,

Prasanth

Nigel said...

This is a kind of retirement plan I have at work. It is similar to a 401(k) in that I contribute to it out of my paycheck and it grows tax-deferred. However, unlike a 401(k), I don't get a tax deduction upfront, and I don't get to choose the investments held in the plan. Here is a page with more information about this kind of plans: http://www.dol.gov/ebsa/faqs/faq_consumer_cashbalanceplans.html

Nigel said...

Sorry, here is the correct link

Anonymous said...

Nigel, Please post update on how you're doing and what changes you have made since last update in 2007. Thanks.