Category Archives: Net Worth

Aug 2017 – 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 $582,000.

Investments

Accounts

RRSP $58,460
LIRA $16,530
TFSA $86,700
Pension $165,610
Wife’s RRSP $86,600
Wife’s TFSA $76,660
Wife’s Taxable $51,180
High Interest Savings Account $42,280

Investment Net Worth $584,020 (increase of $3,610 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $3155

Well this month was paying the car insurance for around $1000 and then new cell phones for the wife and I for another $220.

As I mentioned last time I’m breaking out the renovations separate from the rest of our spending this year.

Trailing Last 12 Month Renovations $9509

Trailing Last 12 Month Average Everything Else $2889 (or $34,672 for the last 12 months)

Results

PF Score: 28.2 {Target 31}

Net Worth ~$979,020

Commentary:

Well I finally past my investing target of $582,000 and I have to admit I’m a bit disappointed.  Why? Because I honestly thought I would be further along than I am right now.  The markets have been sluggish lately so while I’m past my target for investments I was hoping to have a bit more of a buffer prior to leaving work. So for the last two months most of the gains have been contributions rather than investment gains.  Oh well, that’s the way life goes at times.  Good thing we pre-saved most of the cash for the first year so this doesn’t matter a whole lot.

Any questions?

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July 2017 – 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 $582,000.

Investments

Accounts

RRSP $58,050
LIRA $16,520
TFSA $85,950
Pension $163,870
Wife’s RRSP $85,990
Wife’s TFSA $78,840
Wife’s Taxable $53,380
High Interest Savings Account $38,810

Investment Net Worth $580,410 (increase of $4,550 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $3188

Nothing too interesting this month with spending other than we went on our summer vacation camping for 10 days and then a visit with some family.

As I mentioned last time I’m breaking out the renovations separate from the rest of our spending this year.

Trailing Last 12 Month Renovations $9509

Trailing Last 12 Month Average Everything Else $2633 (or $31,606 for the last 12 months)

Results

PF Score: 30.9 {Target 31}

Net Worth ~$975,410

Commentary:

“This is mission control.  Are you at target?”

“Yes sir, we can confirm we are approaching target.”

” You are clear. Prepare to launch.”

And with that I have almost reached our target for investments and I can really quit any day now.   I mean literally anytime like today, but  while I’ve almost met the number target I haven’t hit the time target I previously  set out for myself.  So I will likely have a bit of excess money in the plan by the time I leave work.  It’s sort of a nice problem to have.

Any questions?

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June 2017 – 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 $582,000.

Investments

Accounts

RRSP $58,650
LIRA $16,520
TFSA $85,350
Pension $164,210
Wife’s RRSP $86,880
Wife’s TFSA $78,200
Wife’s Taxable $51,270
High Interest Savings Account $34,780

Investment Net Worth $575,860 (decrease of $2020 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $5920

Last month had our property taxes due which are about $3700 and we also bought a new laptop for the house for another $550.

So I was feeling a bit guilty about our spending numbers until the other day when I looked at the data a bit more closely and realized what I was doing.  I’m front loading a lot of our spending now so that my first year of early retirement can be lower.  For example, we have put some extra money into doing electronic upgrades now.  We helped our oldest son buy his first laptop ($400), we upgraded the family laptop ($550) and then later on I still need to buy new phones for my wife and myself.  So yes we have been spending a lot, but at least I know where it has been going.

As I mentioned last time I’m breaking out the renovations separate from the rest of our spending this year.

Trailing Last 12 Month Renovations $9509

Trailing Last 12 Month Average Everything Else $2573 (or $30,877 for the last 12 months)

Results

PF Score: 31.4 {Target 31}

Net Worth ~$970,860

Commentary:

It was bound to happen at some point as stock and bond markets can’t go up forever, they do come down at some point. So this month is one of those down months and hence the net worth reduction.  Honestly, while I’m a little bit frustrated being so close to my goal, I’m sort of happy this happened now.  I would rather eat a month or two of losses now rather than it happen right after I leave work.  I know I would be more worried about this drop if I had already left my job.

And by an odd quirk of fate we passed the PF Score target this month, but that is more due to me stripping out the house renovations than actually being fully correct.  Yet the trend is nice to see.

Any questions?

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