Posted by Tim Stobbs on February 26, 2010
Some days I honest feel like I just did my last net worth and then I’m doing it again, instead of the actually two months between them. I assume then my life isn’t too boring, any way on to the numbers.
Wife’s RRSP $12,100
Wife’s Investment Account $12,200
Wife’s TFSA $6,900
My Investment Account $6,000
High Interest Savings Account $6,400
Therefore my net worth now stands at $322,800 for the end of Feb 2010. That is an increase of $18,300 or 6.0% from my last update. Of that my investment net worth was $104,000 which was an increase of $5,300 or 5.3%. Mortgage is down by $8,800 or 20% of my goal for 2010.
So a few general notes about all of this. First off I did adjust the house value up slightly to reflect local market conditions. Given the potential spike that could occur from the new mortgage rules during my next update at the end of April I might have to just freeze my house value till that passes. I’ll decide during my next update what to do.
In the mean time the equity markets didn’t move all that much so my investment net worth remained fairly stable with a slight increase.
The obvious mover in this update is the drop off in the mortgage as it is my goal to reduce that to $78,000 by year end. I should explain a quirk of how I’m paid for my school board work. Since school isn’t on in the summer I don’t work and also don’t get paid. So you won’t’ see much of a drop over the summer on the mortgage. In addition I’ve decided to put my last two cheques into my RRSP to balance off some of my tax bill. So overall you will see a sharp reduction at the start of the year and then it will slow down for the second half.
(Click for a larger image)