Posted by Tim Stobbs on April 30, 2010
A caution on this net worth post. When I make my comparison I always use the last update number, but in this case I’m referring to my Feb update, not the mini update I did with the cross over post. So all increases are from the Feb to April period.
Wife’s RRSP $12,500
Wife’s Investment Account $12,900
Wife’s TFSA $7,300
My Investment Account $6,700
High Interest Savings Account $7,000
Therefore my net worth now stands at $338,500 for the end of April 2010. That is an increase of $15,700 or 4.9% from my last update. Of that my investment net worth was $110,800 which was an increase of $6,800 or 6.5%. Mortgage is down by $17,700 or 41% of my goal for 2010.
So a few general notes about all of this. As I touched on yesterday I’ve frozen my house value in these updates until the housing market calms down a bit. I’m concerned about getting another bubble effect in my net worth (see graphs for when it happened in 2008). In the mean time the equity markets continue to give me a steady return. Not huge like some of the 2009 updates, but I can live with steady.
I keep trucking along on my mortgage goal and I’m 41% done already for the year. Yet I’ve hit a bit of a brick wall on that one. I’m almost out of prepayment room until my renewal date hits in May or June (I can’t recall which). As such I might get a bit of money sitting in savings in the next update waiting to hit the mortgage. It’s interesting to note that would mean I’ve paid off in total almost 15% of my original mortgage amount in a single year with prepayments (in addition to regular payments). It’s really amazing what you can get done when you put your mind to it.