Net Worth Update: April 2009

by Kevin on May 1, 2009

April was a strong month for the stock market which means it was a stronger month for us in terms of net worth.

Overall our net worth went up 7.26% — a pretty large amount — but a good chunk of that was just the increase in the value of our retirement savings. I’m fine with that, too, but it isn’t like we earned an extra $5,000 this month at our jobs or anything like that.

Year-to-date we are up almost 16%. The power of dollar cost averaging our retirement savings kicked in this year. We kept buying mutual fund shares as the market tanked so we have a nice spread of prices. (Of course I would have loved to put all of our money in at the bottom, but that is impossible to time so we don’t try that).

We refinanced our house a few days ago which will free up some cash. That won’t have any affect on our net worth this month or even next month. But we’re applying that monthly payment savings plus some other sacrifices toward our second mortgage. We’ll be paying it off in about two more years and drastically reducing our interest costs. That should have a long term positive affect on our net worth.

Hope you had a great April, too!

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