Monday, November 3, 2008

net worth declines abound

Declining North American home prices coupled with plunging stock markets mean that personal net worths are declining everywhere from Los Angeles to Halifax. This is a phenomenon that is not only occurring in North America, but in most of the world. Personal finance bloggers are no exception.

Here is how some of the usual suspects fared on their November 1 updates:

American, Clint from Accumulating Money saw his net worth decline by 9.9% since October 1.

Eastern Canadian, FT from Million Dollar Journey had his net worth decline by only 0.3% since last month due to some strength in his savings as well as stable real estate values. FT has had a strong performance in 2008, as he is sitting at a net worth increase of 13.3% year to date.

Western Canadian, Tim at Canadian Dream: Free at 45 saw his net worth decline by 3.6% since his last update in late August. He is still hanging on to a 1.9% increase year to date.

How bad will my November net worth damage be? I report my net worth on or around the 15th of the month, every other month. My next report is scheduled for around November 15. See the blog sidebar for all previous net worth updates, like my last one in September here.

Try INO Free! - Get your favorite symbols' Trend Analysis TODAY! Click Here


Frog of Finance said...

My net worth went down 3.6% in October, after a 2.8% decline in September. But I'm fin with that, since I'm a long way from retirement and my asset allocation is heavily into stocks. Things are on sale, so I keep adding money to good quality companies.


MG (moneygardener) said...

Thanks for the comment Frog and I agree with your thoughts there. I've subscribed to your blog.

James said...

Hearing all of these net worth declines seems to make me feel a little better, however my equities are down 20+%. Hold on still...

Janette said...

I got out in January and am coming back in right now. My net worth is up about $150.Not much- but it is not in the negative. I know it will go down with the fluctuation of the market now- but I will buy and hold some really great companies. Twelve basic stocks and no mutual funds. I learned my lesson when I lost half of my net worth in the early '90s. Still writing that off of my taxes.
My house (paid off) stayed even because I live in the part of the US where few choose to move and the prices never rose.

Janette said...

Sorry- I got out in August. I am a teacher and August is the beginning of my year:>)