Our October Net Worth Takes A Beating

by James & Miel on October 18, 2008 · 0 comments

Hi All, 

Well a week ago, we sat down and added up our net worth.  We knew it would be ugly and – sure enough – we’ve lost nearly 18% of our wealth in two months.  As of October 10th, we were worth $288,000, a big decline from $352,860 in August. 

Whats it all due to?  In a word – the stock market.  The value of our brokerage and retirement accounts took huge losses in the first part of this month.  The assets in these accounts is almost exclusively shares of individual stocks and mutual funds.  So, to a great extent our fortunes have followed those of the greater equities markets.

However there is some good news.  The value of our precious metals have stayed constant and since we’ve been saving for an investment apartment in Portland our cash situation is strong. Both my wife and I are still gainfully employed and most of our stocks are still paying dividends, so despite the bloodletting in the market, things could be far worse. 

Click on the picture below for the details: 

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