Guaranteed Return On Your Money!!

Lately my net worth has been swerving up and down more violently than a rollercoaster. This is largely due to the fact that most of my assets are tied to the stock market (i.e., my 401k, Roth and my investment account).

When the market’s up, my net worth is close to $0. But when it’s down, my net worth is seriously in the red.

This article depresses me. My net worth at my age should be anywhere between $100k to $360k.

If it weren’t for my debt, I’d be well on my way regardless of market performance. I now understand why financial advisors say that debt reduction is the only guaranteed return on your money. I need, need, need, need to get rid of my debt!

In my earlier post, I concluded that I will continue to contribute 15% to my 401k rather than reducing it to 6% to accelerate my debt repayment. I will continue to do so since I currently have the opportunity and ability to save so much.

As you may know, I expect to be laid off at the end of the year. I also do not expect to make as much as I do now in my next job. If that’s the case, I plan to continue with my current debt repayment plan and reduce my retirement contribution instead. (Sigh…)