How was your 2006 financially speaking?

[disneysteve]

As we wind down 2006, I'm starting to look at how our portfolio fared this year. Of course, the final numbers are still 26 days away, but it looks like we've had quite a good year. Our invested assets are up 23% from 12/31/05. This includes new money we have added to our portfolio as well as growth of our investments.

Our worst equity fund is up over 10.5% and our best is up nearly 40%. And our cash and fixed-income investments fared well too thanks to higher interest rates.

All in all, a very good year. Hope you all did well too.

[Lemony]

We did very well this year. DH doubled his income by accepting a job in the States (We're Canadian) so we moved here and within 3 months have:

a) set up our 401k with 13% contributions (will up to 15% or 20% after Canadian finances are taken care of),
b) sold our house in Canada & will pay off our debts with the equity.
c) increased our net worth significantly (on paper) with a jump in company stock in just the past 3 months.

2006 was pretty good for us! I hope everyone is happy with it, too!

[pearlieq]

2006 was a good year.

DH and I maxed out our Roth IRAs and my 401k. We've met all of our obligations and managed to bounce back from the surprise addition of another 9k of DH's student loans. We're ending the year with our emergency fund replenished and on track for our savings goals.

We've had a chance to enjoy our money through a cruise last May and trips to Las Vegas and Los Angeles. We were also albe to put in beautiful new granite countertops.

Both this year and next year are very important "get ahead" years that I think will affect the rest of our lives so I'm very motivated to reach our goals!

I wish everyone else a happy, prosperous new year!

[Broken Arrow]

One year ago, I had only 1k in cash and about 38k in debt... which I had yet to start paying on. I was working in a lower paying job, and I was moving into my mother's house. My wife had already left me at this time, but I was still hopeful that we could work everything out. Soon, I would find out that she wanted everything. The car, the house, and full custody of the children. I felt helpless and desperate.... I honestly wasn't sure how things were going to turn out.

On New Year's Eve (which I spent alone in my mother's spare bedroom), I made one simple vow: I vowed to engineer the greatest turnaround of my life!

I know it's vague! However, it meant several things. I wanted a better paying job. I wanted to be in better health (eat and sleep better). I wanted to keep custody of my kids and continue to be a part of their lives. I wanted to be in much better financial position. And when my ex refused to agree on equal distribution of assets and custody, I wanted to afford the best lawyers in town.

So... where am I now? 11k in savings as well as 11k reduction in debt (now at -27k). On top of that, I also bought one of the best law firms in town. The cost made my wallet cry, but they were worth it in the end because I was able to win everything I had asked for, which was basically joint custody and equal distribution of assets. Oh, and I also started my 401k... which I am pushing very aggressively with.

Considering that everything in my life fell apart in only a year ago, I like to think that it was a good year. Somehow, it still doesn't feel like it though. I still get headaches on occasion... because my wife is no longer here. Without her, it feels... empty somehow. I don't think I'm articulating this correctly. Perhaps, these things take time?

In any case, I think I've done about as much as I personally can with it, and overall I am pleased. I look foward to 2007, and seeing just how much further I can go... especially now that most of the ugly business is behind me now.

[disneysteve]

BA - Wow! Didn't know all that stuff about you. I hope 2007 brings better days for you.

[Snoopy2645]

Its ending ok overall even with all the issues with my ex this year & dd I still am holding my head high & ending this year on a postivie note!!!

1. Dh got a new job & almost doubled his income
2. I made more money this year about double also!!!
3. I got A call friday & am getting a check for some of money before the end of the year NOW thats a way to end the year I think!!!
4. We didnt go any further in debt this year & I got my van even though I am ready for something else!!
5. The kiddos are doing great in everything from the youngest with potty training to the oldest whos now babysitting!!!
6. My one grandma is still alive & in great health & I pray she stays that way I love her dearly & really dont want her going to a nursing home or anything & my mom is also in great health

Theirs only a few family issues if I could fix I would in aheartbeat but I dont think I can change others so I wont try!!!

[Daylily]

2006 has been okay.
I am officially unemployed as of last Thursday. This is a good thing, not a bad thing.
Investments are up and we managed to chip away a little more on the mortgage.
We started contributing to DH's SEP-IRA after a two year break. Yeah!
We are ending 2006 with a three week trip to Europe. I'm packing my bags this week.

[sakigt]

I graduated with my BA in marketing, only $2500 in student loans. (Down to $1100)
Began the journey to getting my Pharm D, paid for by my job.
Bought a condo for 121k that was worth 128k.
Paid off all my credit cards.

Things are looking good for 2007!

[vsjhoc]

Originally Posted by Broken Arrow

In any case, I think I've done about as much as I personally can with it, and overall I am pleased. I look foward to 2007, and seeing just how much further I can go... especially now that most of the ugly business is behind me now.

BA - I think you've done an awesome job. What a turnaround! We can all learn from your experience. Thanks for sharing along the way.

Personally, my 2006 was bad from a financial pt of view. Let's hope 2007 is way better.

Here's to everyone's financial health and wealth!

[LivingAlmostLarge]

Not a bad, not a great year. Sigh, I wish we were further in taxable savings we're down for the year paying a ton of student tuition, trips, home stuff, etc, but I have to look on the bright side, I think our net worth increased by at least $23k (401k and Roth maximum). I'll look at the rest later.

[Fern]

I'll have a better idea once i do my end of year expense statement (which I plan to share here), but the overall highlights are generally good:

* increased my 401k contribution to 12% (i'll be raising that to 15% once i get my next raise next March)

* maxed out the Roth IRA

* continued to prepay house mortgage, and recently boosted prepayments to set me up for paying the whole thing off in 7 years

* looks like (on paper) i'll have spent about $2,000 more this year than i earned,b ut i'm not too worried about that; it's the first year i can remember doing that, due to some bills from dentist and surgery. The actual bills have all been paid,b ut i do plan to carry over that on-paper debt into next year til i eliminate it

Broken Arrow you have my sympathies, sounds like you're doing great, all things considered. Maybe someday your online name will be so at odds with where you're at that you can change it. Strong arrow? Sold & true arrow? Unbroken arrow?

* think the rising stock market has floated everyone's boats, so that's been helpful to me, too

Overall, i'm on track as planned.

[Broken Arrow]

Thanks everyone, for the kind words. 2007 will be a better year for me, I'm sure.

[creditcardfree]

Our income has increased by 50%!!! And should increase another 30% by the end of 2007.

Paid off our car loan!!

Our retirement balances have increased by 46%. This includes market appreciation and contributions for two tax years!

We have the same equity in our home, but we moved to a new state and our mortgage balance is higher. Love the new house, with a two car garage and three bedrooms and a master bath. We didn't have them before.

Expect to 2007 to be one of increasing abundance!! Blessings to you all.

[jodi]

Awful! But 2007 is looking SO much better.
DH finishes his student teaching and gets certified this month. He has four interviews for substitute teaching, which hopefully will balance out the finances until he finds something permanent. For all of 2006, we have been living on my PT income (app. $20k), occasional commissions (about $8k total), and 6 months of unemployment ($5600), which actually added up to a lot more than I thought! On this, we managed to pay app. $8k in tuition, but put $5k on a 0% cc and took out $8k in student loans. We only put a very small amount in our Roths, which we used to max out every year. If things pick up soon, we'll still have time in the next few months to put some in.
Our investments increased for the most part, but we did take a big loss on one. Overall, net worth is down about $12k due to all the tuition costs.

[aurielle]

I did alot of belt tightening and paid off all my credit card debt in 2006. In 2007 I'll be rebuilding my EF and start contributing to my Roth IRA again.

[MonkeyMama]

It was a lot better than 2005 Financially I guess. Though in 2005 I got to take a good chunk of the year off and that wasn't so bad.

Still catching up from that.

Investment-wise was great. Dropped our useless investment broker and turned a 2% gain as of september to a 10% gain for the year. I Can only imagine much better return on average, going forward. & less fees!!

On top of that my profit sharing vested to 80%. I earned $10k in retirement funds this year as a result - that is great.

2006 was our best year on 1-income by far. We had quite a few luxuries and we started to save again. We are moving past "getting started" stage as we now have a house and have been able to spend significant time with our small children. As we look forward we will start achieving our goals for an early retirement. IT is nice to think we can make some significant strides in our retirement fund regardless if dh ever works again. I have learned a lot from this website. IT's not even we have to save so much if we can invest it well!!
I think I have earned $3k I Would not have otherwise just from making some investment changes, many of them quite on the safe side. THat is in 3 months. I really look forward to what 2007 will bring.

[bjl584]

Pretty good. My investments are doing good, I paid done my mortgage quite a bit. My net worth has dropped a few thousand due to student loans, but it's for a good cause. I don't mind debt from education.

[miclason]

...hmmm...I survived, and, would say that, although the year has been far from easy, at least it's been better than 2005 and 2004!...I feel like I'm moving in the right direction...2007, here I come!

[Ima saver]

We started out with about $300,000 in cash for building. As soon as we close on the house, we should have about $400,000 in cash for 2007. That is not all that much profit, but I have really saved quite a bit this year. The $20,000 challenge has helped a lot, plus I started a "pay off the land" fund that has close to $20,000 and a car fund that has $10,000 in it.

[autofx]

i had very good year! my car almost paid off only few months left. thats a savings of $460 per month! end of this year my pension should grew to 7.4%, right now its 6.4% just waiting two dividends to come in. and my 401k Personal Rate of Return from 01/01/2006 to 12/04/2006 is 31.1% should end around 39% with addition of dividends in few days. last i just had another pay raise thats cool. this year has been wonderful! next year i might buy a condo.