Affiliate Ads support this blog:

Friday, 1 May 2009

Net Worth Update: April 2009

Woo-hoo! Two positive months in a row.

My net worth as at 30 April increased by $28,626 (+4.65%) to $644,180 (+4.65%), but that gain is still dwarfed by the huge -$141,895 (-15.68%) net loss experience last October. My leveraged equity investments continued to climb towards break-even (up by $20,811 in April to now be 'only' -$14,366 in the red), and my retirement account put on another $12,852 (+5.26%) in April, although a large part of that was due to contributions paid by my employer during the month.

The share market gains were partly offset by a drop in the valuations of our real estate investments, with the estimated valuation of my share of our real estate assets decreasing by -$5,798 (-0.75%). The balance of my half of the mortgages decreased slightly (by $761 to -$363,700) as we made some extra repayments using our tax refunds. we shouldn't need to make any redraws to meet loan repayments in future as we recently switched one of our loan accounts to be fixed at 5.34% for three years (the three year fixed rate has since risen again to 5.69%). That leaves less than 1/3 of our total mortgage balance on variable rate, currently at 5.09%. All of our home loans are currently 'interest only', so any reduction in the loan balances will occur through one-off extra payments when receive some spare cash flow via tax refunds, Family Tax Benefit or Child Care Benefit/Rebate payments.

Subscribe to Enough Wealth. Copyright 2006-2008

No comments: