Thursday, January 4, 2007

Update to Net Worth IQ

I've updated my financial information for year-end 2006 on the site NetWorthIQ. Last year was a pretty good year after the setback of my divorce - my net worth is up 59%. My 401k was up 12.7% and real estate equity was up due to the purchase and rehab of a property (There's not much appreciation in the Buffalo area - 3.5%).

My major financial failure was my inability to fund my 401k enough to get the complete company match. My cash flow has been very marginal the last 3 years and even though I inched up my contributions during the year I only averaged 3.7% Vs my goal of 6%.

Credit card wise, I did increase my debt but all nearly all was for real estate investment.

Compared to others in my education or income level I am doing better than the average on that web site. Compared to others my age I still need lots of work to catch up. But I'm optimistic with the start of my real estate venture that I will do as well or better in 2007.

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