Time for the final installment of net worth updates for the year 2007. December was a volatile month for the markets, but better than November.
A few readers commented in my November net worth post that insurance shouldn't be counted as a liability. Yes, technically, I can cancel my insurance anytime so it's not a real liability. However, it's a fairly large annual expense for the foreseeable future, so I would rather take bit by bit monthly than take a big hit once a year. The alternative would be to take it out of my liabilities and manually reduce my savings amount.
Here are the final numbers for the year:
Assets: $ 383,600.00 (+1.72%)
- Cash: $4,500 (+0.00%)
- Savings: $118,000 (+4.89%)
- Registered Investment: $48,300 (+1.26%)
- Pension: $21,500 (+1.90%)
- Non-Registered Investment Account: $45,200 (+0.44%)
- Real Estate: $ 124,500 (investment property) (0.00%)
- New Home Deposit: $5,000 (+0.00%)
- Vehicles: $16,600 (2 vehicles) (-1.19%)
Liabilities: $ 104,300(+0.10%)
- Mortgage Debt(investment property): $94,500 (-0.21%)
- Insurance: $1,800 (+20.00%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ $279,300 (+2.35%)
Started 2007 with Net Worth: $224,000
Year to Date Gain/Loss: +24.69%
Overall, 2007 was fairly successful with approximately 25% increase (without real estate appreciation) in net worth which was one of my unannounced annual goals.
Question for you, do you enjoy the net worth updates? I've been contemplating simply doing my net worth updates based on percentage change only and taking out the actual numbers. What do you guys think? Would it still be as interesting?
Stay tuned for my financial goals for 2008.If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).