Feb 2015 – Net Worth

The following is an update of Tim’s plan to retire early.  Please note we are mortgage free.

Our ultimate goal between investments and the home equity is a net worth of around $1 million.  The investment part of that target is $600,000 (or higher).

Investments

Account (Contribution), [+/- Gain or Loss less contributions]

RRSP $42,430 ($0), [+$1210]
LIRA $15,350 ($0), [+$490]
TFSA $56,510 ($2500), [-$830]
Pension $117,690 ($887), [+$2222]
Wife’s RRSP $75,260 ($500), [+$2000]
Wife’s TFSA $48,010 ($0), [+1350]
High Interest Savings Account $2320 (+$600),[+$10]

Investment Net Worth $361,280 ($4477), [+$6,452 or +1.8%]

(YTD Contribution: $12,783), [YTD Gain: $18,546 or +5.2%]

Home Equity

Estimate $400,000

Spending

Last Month $1664

We prepaid for our veggies order for the summer already which was around $320.

Trailing Last 12 Month Average $2566 (or $30,795 for the last 12 months)

Results

PF Score: 24.7 {Target 32}

Net Worth ~$761,280

Commentary:

Well that’s the end of our TFSA contribution room for the year.  We finished maxing out both accounts (note there was a small error in Jan update that didn’t reflect a part contribution to my TFSA), so now we need to do some stock shopping.

Speaking of stocks the markets have done very well so far in 2015, which is interesting to note that the gains are exceeding our contributions…ah the joy of compounding! It’s nice to know that my money can grow faster than I can save it at times. 😉

We plan to get started on our taxes here right away and try to get our refund a bit earlier this year.  Normally I have had to wait until the bitter end to file because of the investment accounts, but I shouldn’t see any T3 slips this year as we moved everything into tax sheltered accounts a while back.  The only sad part is this likely won’t happen again as we will run out any contribution room in our RRSP and TFSA accounts this year and so will be back to taxable accounts at some point in 2015. *sigh*

Any questions?

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2 thoughts on “Feb 2015 – Net Worth”

  1. Your TFSA is performing very well. Mine only got $49K this year. I think the difference is from me not contributing for first 2 years and using mutual funds at the beginning.

    Excellent networth as always. Canadian Dream free at 45!

  2. @BeSmartRich – Thanks. Yes I won’t worry about comparing TFSA, we got lucky with a few of our stock picks which has really driven up the value. That is hard to do with mutual funds.

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