Saturday, January 9, 2010

My Net Worth Update for 2009 and Goals for 2010

Back in 2005 I calculated that my net worth would reach $1 million by the end of 2012 if I could manage a steady 20% yearly increase. I have been tracking my progress ever since. In 2009 which was year 4, my net worth increased by 32.9% or $116,800. That is unfortunately not enough to make up for the major setback that was 2008.






Missed by $29,700




Missed by $18,700




Missed by $121,000




Missed by $101,200







In 2009 I was able to max out my 401k and my IRA contributions. I also contributed $3,000 to a 529 plan. Where I failed to execute was on the trading side. I remained too cautious after the stock market bottom was in, siding with the “non-believers” that the rally was for real.

My goals for 2010 are:
-max out 401k and IRA contributions
-contribute $5,000 to the 529 plan
-grow my investment portfolio by pursuing trading and investing opportunities in order to get as close as a $690,200 net worth as possible

On the real estate side, I will keep an eye open for any good opportunity to invest. But not before the $8,000 incentive for first-time home buyer has expired. Once the incentive will be gone, the housing prices are likely to correct further.

No comments: