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Haha, if you think someone making $100k/yr that only saved 0.01% of his gross income is doing well, then I'm wasting my time talking with you.
Good day to you, sir.
a mutual fund can have a year where they return 20% but lose $100 million in assets from people pulling out money for whatever reason. their performance is strong but they arent "doing well." you dont understand that the two arent the same. a 58 year old guy with a net worth of $100 probably has had a lot of bad performing years. the +10% is good, for him. doesnt mean he is "doing well."
He could've gone from $100k in credit card debt to $40k living like a homeless person, despite having a large amount of debt he continues to pay it off.
My Net Worth increased over 300%. But I am young and have a low Net Worth. At the start of 2015 I was around $40K, now I'm around $130K. Financially it's been a pretty good year and I think 2016 will also be good. Plan to get the home paid off this year, and start another business.
My Net Worth increased over 300%. But I am young and have a low Net Worth. At the start of 2015 I was around $40K, now I'm around $130K. Financially it's been a pretty good year and I think 2016 will also be good. Plan to get the home paid off this year, and start another business.
Nicely done! You didn't mention your age, but a $90k gain in 1 year is pretty exceptional for the majority of Americans.
I lost a lot in stock market and a bad financial advisor who did not listen when I told him to pull out of market in early 2015.
Despite that i doubled my savings (saved up $231k in 2015, of which 43k is in retirement funds), so I'm happy. I don't know if I can do it again this year though. I don't have any other assets, sadly and I need to buy 2 cars soon. I have been living a somewhat frugal life and deferring large expenses.
Maybe if the stock market tanks completely I put a lot of cash in at the low point. Or if the housing market takes a nosedive, I'll try to get in.
I still think the best policy is to try and earn more, as well as save more. Never had a month of unpaid credit cards or any other debt like student loans. I've never done well with investments. And as I recently learned, don't trust anyone to make your investments for you. They will never have your best interests in mind, only their COMMI$$ION.
My Net Worth increased over 300%. But I am young and have a low Net Worth. At the start of 2015 I was around $40K, now I'm around $130K. Financially it's been a pretty good year and I think 2016 will also be good. Plan to get the home paid off this year, and start another business.
Nice gain, math is wrong on your net gain calculation. (130k-40k)/40k=225% gain
I am retired and have several mutual funds and some direct stock. I do not play the market nor sell/trade. At my age, my main interest is protecting what I have. I am required to take RMD but I have been re-investing it. I expect I will soon have to start drawing (selling) some of my holdings and/or spending the RMD versus re-investing it as I have been. I do collect SS.
Well to directly answer the question. What with auto dividend re-investment and growth, I am up up about 12% for 2015 (and that is after taking RMD in early 2015) so I am pleased with that.
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