Posted by Tim Stobbs on June 30, 2010
Ugh, talk about a lousy time to have to take your net worth. The day after the 340 point slide on the TSX and I also just paid my property taxes which drained my savings. Oh, well good thing I invest for the long term and I don’t panic about short term fluctuations.
Wife’s RRSP $12,100
Wife’s Investment Account $12,100
Wife’s TFSA $7,000
My Investment Account $6,500
High Interest Savings Account $4,000
Net Worth $341,700 (+$3,200 or +0.9% from my last update). [+ 12.2% YTD ]
Investment Net Worth $105,100 (-$5,700 or -5.1% from last update). [+ 6.5% YTD]
Mortgage is down by $26,600 or 62% of my goal for 2010.
The stock market slump of yesterday took its toll along with having to pay out my property tax for the year from savings. The combined effect makes my investment net worth look bad this month, but I’m not worried. I’m focusing on debt reduction for the year so I know I only need some modest growth to keep on track for my long term plans.
I continued to keep the house valuation frozen as I’m still seeing some odd pricing of housing here. I’ve seen list pricing for somewhat similar houses vary by $40,000 so I’ll just wait a bit for the market to calm down before I update the house value.
I keep working on my mortgage goal and I’m 62% done for the year. As I mentioned before I know I won’t get to 100% of my goal this year because of working less from July onwards, but I’m still curious how close can I get to that goal. All in all it’s fairly nice to finally be at a five figure mortgage balance for the first time in my life.
So overall I’m happy to see that net worth number keep slowly climbing.
(Click to see larger version)