Posted by Tim Stobbs on June 30, 2008
Well my parental leave is done so I’ve drained my savings, my house value is down and the stock market is down. Let’s see how bad the damage is.
Wife’s RRSP $8200
Wife’s Investment Account $8800
My Investment Account $4600
High Interest Savings Account $5000
Therefore my net worth now stands at $247,900 for the end of June 2008. That is an decrease of -$27,100 or 10% from my last update.
Obviously the house market value dropping had a huge impact on the net worth. So to anyone who thinks equity is anything remember it is like smoke and can vanish in a moment until you sell your house. I’m not sure if the drop in values will continue, but really I don’t care all that much. My house is still worth a lot more than my mortgage so I don’t really care that badly until that point.
Well despite my use of our savings and the poor market performance my investment net worth only went down $1000 to $62,000 which actually surprised me. I suspected with the poor market performance lately and our lack of savings I would be doing worse overall. I still might need some additional money out of our savings ahead in July so this could drop a bit more but it should be on the rise again soon.
For more details see the following graphs (click to see a larger version).