Posted by Tim Stobbs on April 30, 2011
Well this month I hit an interesting milestone. I managed to max out our lump sum prepayment option on our mortgage for the 12 months. Which in practical terms means we put on almost $23,000 in lump sum payments in the last 12 months in addition to our regular payments. No wonder the mortgage balance is dropping like a stone.
Wife’s RRSP $20,200
Wife’s Investment Account $12,800
Wife’s TFSA $8,800
My Investment Account $6,600
High Interest Savings Account $5,600
Net Worth $420,900 (+$19,300 or +4.8%) [+ 9.8% YTD ]
Investment Net Worth $139,900 (+$1700 or +1.2%) [+ 10.2% YTD]
Mortgage is down by $15,500 or 40% of my goal for 2011.
So with the housing market finally kicking back into gear I was able to get a few similar listings to finally update my house value this month. I had been avoiding the update for a while since I really didn’t have more than a listing or perhaps two that were similar so it was tough to get an estimated market value.
My investment net worth was very stable over the time frame, while I did make minor contributions to it over the last two months, the markets also decreased a bit which offset most of the increase. Oh, well that happens when you have a a fair amount of equity exposure.
I did notice one interesting fact while I was calculating our combined TFSA balance, which now stands at $20,000. Not too bad given we only put in $10,000 so far…so a 100% gain in just a few years looks impressive as hell until you realize it was mainly just dumb luck that those stocks have done well and the stocks had fairly high yields when we bought them (AQN.TO, EIT.UN.TO, REI.UN.TO).