The following is a update on Tim’s plan to retire early. The current metric to tracking this goal is my net worth. This will be the last year for these posts, since once the mortgage is paid off it will cease to be useful. At that point future updates will shift to investment net worth only in 2013.
Wife’s RRSP $28,700
Wife’s Investment Account $12,500
Wife’s TFSA $10,800
My Investment Account $6,000
High Interest Savings Account $0
Total Assets $ 541,600
Total Debt $18,600
Net Worth $523,000 (+$13,700 or +2.7%) [+ 10.5% YTD ]
Investment Net Worth $164,100 (-$2000 or -1.2%) [+9.8% YTD]
Perhaps one of the most frustrating things that can occur is a series of events that results in your plan not moving much of anywhere. This month’s update is like that.
I did everything I should and I still didn’t get much for progress. Actually in the case of the investments those fell by more than I contributed, so I lost ground. *sigh* Is it bad to wish Greece would default already so that the markets could perhaps move on to something else?
Then of course the summer is when my property taxes are due so that always cleans out the high interest savings account. Overall this was a crappy month with a single bright spot of my houses values went up a bit, but that is meaningless to my retirement plan (since I don’t count on doing anything with my house other than paying it off).
So in the end, I’m going to have a beer and enjoy my summer and forget this update ever occurred. Some days you just have to accept and move on or in my case pay off the mortgage by Oct.
(Click image to see larger version)