Category Archives: Net Worth

April 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 $59,700
LIRA $16,470
TFSA $86,175
Pension $161,650
Wife’s RRSP $88,370
Wife’s TFSA $78,150
Wife’s Taxable $51,060
High Interest Savings Account $30,410

Investment Net Worth $571,990 (increase of $11,190 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $1741

Our life insurance came due this month for $324.  I toyed with the idea of reducing our coverage again, but decided to leave it until next year.

We also bought a new dining room table.  We honestly were not even looking to replace our current set until my parents mentioned they were downsizing and wanted to sell their solid oak table and chairs for $500.  It needs a bit of work to restore the finish but in very good shape overall.  Given we have family and friends over a LOT for meals, it seemed like a good investment to buy a table that can seat more people.

Well this month we didn’t actually spend money on renovation, instead I signed a quote and booked our roofer to replace the shingles on the house.  That should occur in the next month or two (depending on the weather of course).  Since this cost will end up being a bit huge I’ve decided to track our spending on renovations as a sub-total this year as it will heavily distort our spending for the year.

Trailing Last 12 Month Renovations $2350

Trailing Last 12 Month Average Everything Else $2656 (or $31,874 for the last 12 months)

Results

PF Score: 30.3 {Target 31}

Net Worth ~$966,990

Commentary:

You think I would get used to setting a target and overshooting it by now? But somehow it keeps throwing me a bit that our investments keep going up by over $10,000/month (about half of that increase was contributions).  I suppose on the plus side a bit extra money at the end of our plan really isn’t going to hurt us.  It just adds a bit to our safety margins which honestly is nice to have.

Of course this does mean that looking at the numbers is getting less and less relevant.  I’m now just counting down the time until I leave (and no I still haven’t told you that date yet…I won’t until I provide my official notice at work).

Any questions?

Investment Net Worth April 2017

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March 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 $58,330
LIRA $16,340
TFSA $84,740
Pension $158,220
Wife’s RRSP $86,420
Wife’s TFSA $79,170
Wife’s Taxable $51,380
High Interest Savings Account $26,200

Investment Net Worth $560,800 (increase of $10,880 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $3434

The renovations continue.  This month was the new water heater for ~$1200.  The other odd bit was I took spending cash out at the start and end of the month making this month look worse than it really is.  It should balance out with lower spending month in April.

Trailing Last 12 Month Average $2707 (or $32,490 for the last 12 months)

Results

PF Score: 29.4 {Target 31}

Net Worth ~$955,800

Commentary:

So for those of you keeping score our investments are now at 96% of our target amount of $582,000.  Oddly enough, I’m not that excited about it.  Why?

I’m focusing more on the little things.  Getting stuff done around the house like the water heater.  Cleaning up the yard now that the snow has melted.  Hanging out with family and friends.  I want to live my life rather than stare at numbers that will get where I want them to be without any effort on my part.  Also I have learned over the years that fixating on the numbers isn’t helpful.  The point of financial independence is to give you more time to live your life, not fixate at getting there.  You have to remind yourself about that at times.

Any questions?

March 2017 Investment Net Worth

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Feb 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 $57,540
LIRA $16,220
TFSA $83,320
Pension $156,020
Wife’s RRSP $85,270
Wife’s TFSA $78,270
Wife’s Taxable $51,090
High Interest Savings Account $22,190

Investment Net Worth $549,920 (increase of $12,450 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $1651

My oldest son has been saving for his own laptop for the last six months and we agreed to pay half for it, so a good computer went on sale and I had to spend $400 to help buy it. I don’t regret a penny of the money I spent since he really wanted his own computer (except I am a bit jealous as his computer is now nicer than mine 😉 )

Trailing Last 12 Month Average $2612 (or $31,355 for the last 12 months)

Results

PF Score: 30.1 {Target 31}

Net Worth ~$944,920

Commentary:

Ugh, when will this crazy stock market ride end? I mean I have gone up in almost $50,000 in investments in the last four months. I’m so ahead of my investment targets that it almost seems pointless to keep updating them.

In the mean time I have decided to NOT move my retirement date up anymore. I have a plan to quit later in the year and if I have some extra money when I get there so be it. This oddly feels better as I can stop running ‘what if’ things in my head and just plan to get some things done that I want to take care of prior to leaving work.

Any questions?

feb 2017 net worth

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