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Friday, April 28, 2017

Nov 2016 – Net Worth

Posted by Tim Stobbs on December 1, 2016

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 $582,000.

Investments

Accounts

RRSP $52,280
LIRA $15,570
TFSA $72,000
Pension $147,830
Wife’s RRSP $82,540
Wife’s TFSA $66,480
Wife’s Taxable $60,800
High Interest Savings Account $9590

Investment Net Worth $507,090 (increase of $5480 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $4250

Well this month included the start of our Christmas shopping (~$1000) and our water softener finally died.  Given I suspect it was the original one to the house, it was more than time for it to be replaced.  That set us back $1,150 for a new one to be installed.  By the way, the water in Regina is REALLY hard so this is not an optional purchase.

Trailing Last 12 Month Average $2587 (or $31,049 for the last 12 months)

Results

PF Score: 29.1 {Target 31}

Net Worth ~$902,090

Commentary:

Well as I mentioned previously this month I finally hit financial independence, which was a nice milestone to hit.  So now comes the really boring part of the plan: save cash.  If you were wondering I always knew I would need to save a fairly big cash buffer and I left it until last because I didn’t want the drag on the portfolio when I was trying to get it to grow.  Now that the portfolio is growing with very little effort on my part the saving the cash should really just take some time.

Any questions?

Nov 2016 invest net worth

(click to make bigger)

Comments

7 Responses to “Nov 2016 – Net Worth”
  1. scott says:

    Congrats. Would not surprise me if your NW ended up at 1 million, since your investments should continue to grow while you save your cash reserve.

  2. jon says:

    I have a feeling we will retire at about the same time Tim – with close to the same net worth. In my case, 43 years old, with 3 younger kids 8,-12 YO. I can’t wait!

  3. Scott says:

    Hey Tim, Is your work Pension included here?

    RRSP $52,280
    LIRA $15,570
    TFSA $72,000
    Pension $147,830
    Wife’s RRSP $82,540
    Wife’s TFSA $66,480
    Wife’s Taxable $60,800
    High Interest Savings Account $9590

    Investment Net Worth $507,090 (increase of $5480 over last month)

  4. Tim Stobbs says:

    Yes, the fourth line down that says pension.

  5. Scott says:

    Got it – was not sure if that was a current one or past. Seems like a small number.

  6. diharv says:

    Well , Tim’s not very old so not sure how many years that pension’s been building , but I don’t think it’s that small for the amount of time he’s been at it .

  7. Tim Stobbs says:

    @diharv – You nailed it. I’ve only been in that plan for 8 years.

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