I tend to be conservative in my estimates when I forecast, but I had estimated that we would end this year with a net value of about $650k. We just passed $665k by the end of August. Assuming nothing crazy happens (Election!) we might hit almost $700k by the end of the year.
This is interesting because it illustrates the disparity between the national/global economy and the individual economy. The US has suffered incredible unemployment this year with so many individuals suffering financial hardship, and small businesses closing and yet our portfolio has grown. Why has it grown?
I guess the answer to that is that the S&P 500 etc, have enough of a global coverage and are supplying essential services that they don’t really feel the downturn. Our portfolio is indexed so I am also sure we are getting benefits from medical companies, who also seem to be doing very well at the moment.
While I am happy about our money, it seems so unfair that we are doing so much better than expected, when others around us are suffering. Don’t get me wrong, I don’t want to suffer but yet there is something odd about not having the share the pain of the rest of the world as we all make our weary through this pandemic.