Category Archives: Net Worth

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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May 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 $60,030
LIRA $16,590
TFSA $86,810
Pension $164,870
Wife’s RRSP $88,870
Wife’s TFSA $76,960
Wife’s Taxable $50,560
High Interest Savings Account $33,190

Investment Net Worth $577,880 (increase of $5890 over last month)

Home Equity

Estimate $395,000

Spending

Last Month $10,069

So this was officially the second higher spending month for us…like since I started tracking (the highest was when we bought our car in case you were wondering).  The good news was that $7159 was the new roof put in at the start of the month.

Our other big spending spots were income taxes owing for $588 and then finally we paid to put our kids in a science and technology day camp for a week this summer for about another $500.

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 $2750 (or $33,006 for the last 12 months)

Results

PF Score: 29.5 {Target 31}

Net Worth ~$972,880

Commentary:

Well you might be wondering how we even managed to increase our net worth with all that spending going on?  Well there was a bit of good luck in that work paid out a bonus which I wasn’t expecting.  It was a nice surprise as I figured we would be a net worth decrease for the month.

Any questions?

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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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