subscribe to the RSS Feed

Friday, April 28, 2017

Up To The Start Line

Posted by Tim Stobbs on November 10, 2006

Well in any race you need to define where you are and where you are going. In this case I need to understand where I am right now. So I’ll use my net worth to provide a benchmark (which is basically: what you have minus what you owe).

What I have (Assets)

House (Market Value) $195,000
My RRSP $11,000
Wife RRSP $4,000
Wife Investment Account $4,000
ING Savings Account $2,000
Asset Total: $216,000

What I owe (Liabilities)

Mortgage $150,000
Line of Credit $0
Student Loans $0 (Just paid off!)
Liabilities Total: $150,000

Net Worth = $216,000 – $150,000 = $66,000

All in all I’m fairly happy with that number. After all I’m under 30 and I have a positive net worth. By the way, I had $60,000 in student loans between my wife and me about six years ago.

Comments

One Response to “Up To The Start Line”
  1. Adventures In Money Making says:

    thats an awesome starting point!

    i’m sure you’ll hit your goal.good luck.

home | top