Category Archives: Net Worth

Sept 2017 – Net Worth

Okay, I’m done being at work but I’m still on vacation until near the end of October, so in preparation of the next phase of my life (aka: early retirement) I’m making some changes to these net worth posts.  So please be patient as I work out the changes over the next few months.  In that end, the focus of these posts will now shift from increasing our net worth to balancing our income & investment gains versus our spending.

The following is an update of Tim’s early retirement.  Please note we are mortgage free and our goal is have our income/investment gains exceed our spending on a 12 month rolling average but I’m just starting to track this as of this month.

Investments

Accounts

RRSP $61,180
LIRA $16,860
TFSA $86,440
Pension $166,410
Wife’s RRSP $87,540
Wife’s TFSA $78,950
Wife’s Taxable $52,180
High Interest Savings Account $45,470

Investment Net Worth $595,030 ($11,010 increase over last month from $6252 contributions, and investment gains $4758 )

Home Equity

Estimate $395,000

Income

To keep things simple I’m only going to track what income comes into our main ‘house’ chequing account.  I won’t be tracking my wife’s or my businesses income as those don’t really matter until the money moves over to the ‘house’ account. Also I won’t track investment gains since that is covered above.

  • Tim’s Vacation Income: $6560
  • Wife’s Monthly Payment to House: $500
  • Child Tax: $310
  • Reimbursement of Expenses (Tim Work): $290
  • Total Income: $7660

Spending

Last Month $2363

We renewed three passports for $377 but otherwise had a good month.

As I mentioned last in previous updates 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 $2942 (or $35,305 for the last 12 months)

Results

Net Worth ~$990,030

Investment Gains & Income/Spending Ratio = (4758+7760)/$2363 =5.3 (Target 1 or higher)

Commentary:

While the markets finally had a decent month after being rather stagnate over the summer so that was a nice boost to the investment gains.  As I mentioned above I’m on vacation right now so we have continued to increase our savings until the end of October when I’m officially done work.

Any questions?

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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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