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Monday, 3 January 2011

Net Worth Update: December 2010

The stock market posted some solid gains this month, so both my geared stock portfolio and retirement savings account increased by around $10,000. Our property valuations also rose a bit during the month, so my overall net worth figure increased by about $28K (~3%). As the USD had dropped below parity with the Aussie dollar by the end of 2010, my NW is slightly more in USD terms than the AUD amounts shown here and on NetWorthIQ.
My "stretch" goal for 2010 was to break the A$1M net worth again (last seen in 2007). I didn't quite regain that milestone but it is looking very "do-able" from here. For 2011 the Australian economy looks to continue growing, unless the Chinese "economic miracle" falters. But with almost "full" employment in Australia we are likely to see the RBA increase the cash rate several times during 2011 unless we get negative GDP quarterly figures. A rate hike would make Australian real estate even more unaffordable for first home buyers and put downward pressure of real estate prices, so I expect our real estate portfolio won't repeat the healthy gains seen in 2010. We may even see a price decrease in real terms (ie. adjusted for inflation).
Assets___________$ Amount______$ Diff_____% Diff 
Stocks_*__________$26,717_____$10,226______n/a % 
Retirement_______$358,678_____$11,110_____3.20 % 
Properties_______$949,702______$6,945_____0.74 % 

Debts____________$ Amount_____$ Diff_____% Diff 
Home Mortgage(s)_$363,552_________$81_____0.02 % 

Net Worth________$971,576_____$28,200_____2.99 %
* the Stocks figure is portfolio value - margin loans. As my portfolio value (and margin loan debt) is around $500,000 relatively small movements in the stock market produce huge percentage swings in the net value of my stock portfolio each month.
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1 comment:

Ultra High Net Worth said...

good luck on cracking the 1million - hopefully we can get there too this year, only $40k to go.