Every month, I give a bit of detail on how my net worth did the prior month. This post will detail how I did in July 2007.
In July 2007, the S&P 500 was down -3.20% and my net worth was down -2.47% during the same time. After starting what was a record-breaking month, the market dropped like a rock and took me with it.
My net worth is now up only 5.59% so far for 2007 and on track to be up 11.18% for the year if it keeps going at this rate. For the year, the S&P 500 is up 2.63%, so I'm doing more than twice as good as the average -- as if that's any consolation.
A few things to add:
- I decreased the value of my house in Quicken by $5,000 this month and plan to do so for the next couple of months. It may be a conservative estimate of the actual value, but the way things have been going with the housing market, it may NOT be as well.
- I'm accumulating cash in my Vanguard money market account in case we find a house we want to buy. We'll be able to put a good downpayment on the new place without using any equity from the old place. Then we'll need to decide what to do with the old house. Decisions, decisions.
- I'm hoping a year-end bonus will give my net worth a bit of a spark, but you know how that goes -- there's still a long way to go before the end of the year and anything can happen.
- If the market shows any signs of life, I'll be fine. If it flounders, I guess I can take comfort in the fact that I'll be buying investments at lower prices and will reap big gains when the market eventually takes off.
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