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.
Significant increase in your retirement. How much of your income do you contribute? or does it vary according to your trading?
ReplyDeleteI have three retirement accounts:
ReplyDeleteAustralian 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.