Do You Suffer From Portfolio Envy?

I’ve been reading many blogs lately where people post their net worth and portfolios. It’s gratifying to see how well people are doing, even in this economy, but I have to admit, mine isn’t as big as some – I have to wonder … am I suffering from portfolio envy?

I’m ashamed to say I’ve been feeling a tinge of jealousy when I read about some people’s net worth, especially if they are younger than I am. You see, my portfolio just isn’t where it should be given my age of 38. Why, you ask?

MISTAKES, MISTAKES
Well, I’ve made tons of mistakes over the years, which I won’t go into in this post, and have slowly managed to claw my way back from financial oblivion – student loans, multiple credit card debts, lines of credit, a second mortgage … even a leaky condo loan!

So, after many years, I’m (basically) debt-free except for a small line of credit which I used to travel the past three years, which I also don’t regret. But, my net worth is not what it should be.

NOT MEASURING UP?
This feeling of inadequacy has been further exacerbated by some recent stats regarding net worth in Canada. Yes, they apply to 2005 and it’s a twenty-year comparison, but the trend is clear – I’m near the bottom of the pack. Oh well.

Even though the market has taken a tumble – dare I say flaccid performance? sorry – many people are still doing well compared to me.

WHAT TO DO?
Well, with the New Year brings new resolves and new things to consider:

• Every financial plan is different - everyone has a different idea of what wealth is or how much they need to survive or retire.
• It’s not too late - I’m relatively young so I have time to recover.
• I’ve had fun along the way - I’ve purposely made some decisions which I knew would negatively affect my net worth in the name of having certain life experiences.

I may start posting my portfolio later in the year ... but rest assured, I'll be saving as much as I can until then!

So, all is not bad – as I get older, I know that it’s silly to compare myself to other people. We’re all different, after all. Yes, some people are worth a lot – my hats off to you! You've clearly mastered your investing 'technique'

You’ve clearly done a better job than I have and you deserve your success!

Photo credit: Maui 'aina

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"The Strump Financial Blog - a (sometimes) irreverent and (hopefully) useful take on personal finance and investing. Personal finance is fun."

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