Are you better off now, financially speaking, than you were this time last year?
I pondered that question while I was answering a survey from the investment management firm that oversees a good chunk of my investable assets. It caused me to stop and think a while, because the answer was not clear-cut.
Speaking strictly in terms of investments, the rising stock market has buoyed my portfolio by 27% in just a year's time. (But what the stock market giveth, the stock market can easily take away.)
It's hard to overlook, however, the obvious elephant in the room; my present state of joblessness means I am most certainly worse off than I was this time last year.
Here's one more angle to look at: the balance on my only debt (my mortgage) has shrunk by about $9,000 in a year's time, helped along by sizable prepayments of principal until my layoff in September.
How do you measure your financial progress and where do you think you stand?
Are You Better Off Now Than You Were This Time Last Year?
December 5th, 2009 at 02:20 pm