Posted by Canadian Dream on September 1, 2010
This post should almost have the sub-title: where not much was done. I had a change in plans over the summer. My wife and I booked our trip to Hawaii to celebrate our 10 year anniversary this winter. The problem was I was planning to save up for it for the last half of the year. Then once I realized I could either drain my savings and pay for it now or use the line of credit. I decided to just pay cash and be done with it. As such we stopped any extra savings for retirement or any extra payments to the mortgage during the summer to refresh our savings account, so not much will happen with the numbers below.
Assets
House $340,000
RRSP $24,000
LIRA $10,200
TFSA $8,800
Pension $23,300
Wife’s RRSP $11,900
Wife’s Investment Account $11,400
Wife’s TFSA $7,300
My Investment Account $6,000
High Interest Savings Account $3,600
Debt
Mortgage $92,600
HELOC $0
Net Worth $354,000 (+$12,300 or +3.6%) [+ 16.3% YTD ]
Investment Net Worth $106,600 (+$1,500 or +1.4%) [+ 8.0% YTD]
Mortgage is down by $28,600 or 66% of my goal for 2010.
The housing market price gap has looked to stabilized a bit so I’ve went ahead and updated my house value on the lower end of the range. So that was the primary increase you will see this month.
I keep working on my mortgage goal even when I know I won’t hit it this year. I took a reduction of hours at work which made making the goal impossible. Yet I still still interested in seeing how close I can get to it.
Any questions?
(Click to see larger version)
Posted by Canadian Dream on June 30, 2010
Ugh, talk about a lousy time to have to take your net worth. The day after the 340 point slide on the TSX and I also just paid my property taxes which drained my savings. Oh, well good thing I invest for the long term and I don’t panic about short term fluctuations.
Assets
House $331,200
RRSP $23,700
LIRA $10,200
TFSA $8,000
Pension $21,500
Wife’s RRSP $12,100
Wife’s Investment Account $12,100
Wife’s TFSA $7,000
My Investment Account $6,500
High Interest Savings Account $4,000
Debt
Mortgage $94,600
HELOC $0
Net Worth $341,700 (+$3,200 or +0.9% from my last update). [+ 12.2% YTD ]
Investment Net Worth $105,100 (-$5,700 or -5.1% from last update). [+ 6.5% YTD]
Mortgage is down by $26,600 or 62% of my goal for 2010.
The stock market slump of yesterday took its toll along with having to pay out my property tax for the year from savings. The combined effect makes my investment net worth look bad this month, but I’m not worried. I’m focusing on debt reduction for the year so I know I only need some modest growth to keep on track for my long term plans.
I continued to keep the house valuation frozen as I’m still seeing some odd pricing of housing here. I’ve seen list pricing for somewhat similar houses vary by $40,000 so I’ll just wait a bit for the market to calm down before I update the house value.
I keep working on my mortgage goal and I’m 62% done for the year. As I mentioned before I know I won’t get to 100% of my goal this year because of working less from July onwards, but I’m still curious how close can I get to that goal. All in all it’s fairly nice to finally be at a five figure mortgage balance for the first time in my life.
So overall I’m happy to see that net worth number keep slowly climbing.
Any questions?
(Click to see larger version)
Posted by Canadian Dream on April 30, 2010
A caution on this net worth post. When I make my comparison I always use the last update number, but in this case I’m referring to my Feb update, not the mini update I did with the cross over post. So all increases are from the Feb to April period.
Assets
House $331,200
RRSP $24,600
LIRA $10,600
TFSA $8,300
Pension $20,900
Wife’s RRSP $12,500
Wife’s Investment Account $12,900
Wife’s TFSA $7,300
My Investment Account $6,700
High Interest Savings Account $7,000
Debt
Mortgage $103,500
HELOC $0
Therefore my net worth now stands at $338,500 for the end of April 2010. That is an increase of $15,700 or 4.9% from my last update. Of that my investment net worth was $110,800 which was an increase of $6,800 or 6.5%. Mortgage is down by $17,700 or 41% of my goal for 2010.
So a few general notes about all of this. As I touched on yesterday I’ve frozen my house value in these updates until the housing market calms down a bit. I’m concerned about getting another bubble effect in my net worth (see graphs for when it happened in 2008). In the mean time the equity markets continue to give me a steady return. Not huge like some of the 2009 updates, but I can live with steady.
I keep trucking along on my mortgage goal and I’m 41% done already for the year. Yet I’ve hit a bit of a brick wall on that one. I’m almost out of prepayment room until my renewal date hits in May or June (I can’t recall which). As such I might get a bit of money sitting in savings in the next update waiting to hit the mortgage. It’s interesting to note that would mean I’ve paid off in total almost 15% of my original mortgage amount in a single year with prepayments (in addition to regular payments). It’s really amazing what you can get done when you put your mind to it.
Any questions?
