Apart from the sevenfold increase the big difference is how levered I was back then. My debt was 242% of my non-retirement net worth, which was only $22,597. Non-retirement net worth has risen much more than the retirement accounts. Apart from credit card debt I had $38,540 in a margin loan and $12,502 I owed to my mother. I took on the debt to avoid selling all my shares and funds at the bottom of the market. I just about made it through with a positive net worth.
The Australian Dollar was only worth 54 US Cents back then and now it is at 87 US Cents.
2 comments:
Significant increase in your retirement. How much of your income do you contribute? or does it vary according to your trading?
I have three retirement accounts:
Australian Superannuation Account
403b
Roth IRA
I haven't contributed to the Australian account in this period and the Roth has zero profit but just over $9000 in contributions. The 403b started in August 2002. So the 2002 value was the Australian account only. My employer contributed 8% and me 1% until recently when I contributed the maximum. In the last two months no contributions have been going in as I am no longer receiving a salary.
Post a Comment