2007 - a retrospective look at my finances: Part 1: A look at my Net worth!

Well 2007 was certainly a rollercoaster year for the stockmarket. There were many times when the stock market corrected itself in the beginning part of 2007. By the second half, the impact of subprime loans created a huge tsunami that rippled throughout the world. The feds lowered interest rates and President Bush unveiled a plan to help bail out those with subprime loans.

So how did good ol Canadian Dollars do, you ask? Well, this evening I dusted off the old spreadsheet and ran some figures.

For the year ending 2007, my savings rate including all capital gains resulted in me having a net savings rate of 36.6%. This is actually much higher than I had originally expected. What this means is that on average, I'm growing my net worth by about 3% monthly. This is pretty decent. I realize that the number may seem high because I'm currently not a high networth individual. My total net worth as of now is just under $90,000.

This is a very modest amount when compared with other financial bloggers out there. As you know it's not a competition to see who can accumulate the most. We all have different priorities. Some of us are expecting kids, others are not, etc etc.

So overall, despite the crazy year in the stock market, I seem to be doing 'ok' saving and growing my networth by 36.6% from Jan 1,2007 to now.

I guess one could say this is quite decent, as recent investigative journalism has shown that many Canadians are actually saving negative (ie. spending more than they're saving!). Yikes! How do these people sleep at night! :)