Monday, October 03, 2022

Heading for a Fall in Net Worth

 This is why I have been concerned about saving money recently:

I'm currently forecasting that this year comprehensive after-tax income (including superannuation and unrealized capital gains/losses) will be less than spending. This would be the first decline in end of year net worth (not counting our house) since the financial crisis.

 

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1 comment:

enoughwealth@yahoo.com said...

Yes, 2022 is looking similar to 2007/8 so far. Whether things end up better or worse than the GFC is hard to predict -- if inflation stays stubbornly high and interest rates get hiked up more than expected we could have a bad global and local recession. So a stock market decade echoing the 1970s could be in store, coupled with a recession like the early 90s. And if Putin ends up actually using WMDs in Ukraine and the US follows through on its warning of 'catastrophic consequences' for Russia in such an event, we could have a major war in Europe thrown into the mix. Hopefully things work out OK on several fronts during 2023...

2:53 am

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