Staring at the ceiling didn’t really work for long, so in the wee hours I wandered over to NetworthIQ and started plugging in my numbers. I used my salary only, my cc debt, my vehicle, my 401(k) and 1/2 the house (mortgage and estimated value).
Strangely enough, it’s in the positive, a little over $90k. I attribute this first to the fact that we got a good deal on our home (purchased well below market several years ago, so we still have equity even in this climate), and to the fact that the first time I was offered a 401(k), I jumped at it, and paid in the annual maximum while I was still single, maintaining a 12% contribution rate after that until the birth of my first child.
Now I’m sitting at 8% contribution, but all of those years in my early twenties socking away that money was one of the things I’ve done right. The market isn’t helping me right now, of course, but I’m only in my late 30s, years away from retirement, and it’s not panic time for that yet. I probably should look at moving some of my contribution rates around because I’ve got 30% going to an S&P 500 fund and I’d like to limit any additional exposure to financial stocks.
You know the best thing I ever did with my portfolio? I bought Nabisco. Even in the worst times, people still buy cookies.
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