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October 17, 2008

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I feel your pain, FMF. My net worth is down a bit for the year, too, owing to a decline of over 30% in my mutual funds. Of course, at this point it's just a paper loss. And I'm only down a few percentage points overall because I have a lot of money in cash.

I've said before that tracking net worth (at least at my age - 36) is a waste of time; and these days, it's a depressing waste of time. I save as much as I can anyway, and that wouldn't change regardless of the current net worth number.

My net worth is down a lot too. I don't know the exact percentage because I am afraid to look at 401K. Probably around 15% since I keep over 40% outside of the stock market. I am 49, so I am a bit more sensitive to it.

Luckily, my net worth hasn't taken much of a hit, because almost all of my money is in savings and self-investments -- I've started a business at the age of 19, so my "investing" went straight into the business. I feel for you, though. It must be incredibly painful to watch.

My networth suffered too but luckily I have a good diversification for my money and investment so the impact is not that great.

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