Posted by Canadian Dream on August 31, 2011
Here is my bi-monthly update on my net worth, where I try to show a little hard data on the journey to early retirement. Like all journey’s even mine has a few bumps in the road.
Assets
House $349,000
RRSP $26,100
LIRA $10,600
TFSA $13,600
Pension $35,200
Wife’s RRSP $18,500
Wife’s Investment Account $12,600
Wife’s TFSA $10,700
My Investment Account $6,100
High Interest Savings Account $800
Debt
Mortgage $54,500
HELOC $4,900
Net Worth $423,800 (-$800 or -0.2%) [+ 10.5% YTD ]
Investment Net Worth $129,300 (-$5200 or -3.9%) [+ 1.9% YTD]
Mortgage is down by $29,000 or 74% of my goal for 2011.
Talk about kicking a guy when he is done. Ouch, these stock market drops have really hit my investment net worth for the last four months. So much so that my net worth actually drop even with all my payments to reduce my mortgage principle.
You might have noticed I have actually used my line of credit, I borrowed a some cash to pick up a few investments during the recent downturn. Hopefully this will pay off in 2012. In the mean time I’m at least on track to meet my mortgage payoff goal by the end of the year. This of course leads into my big plan for 2012: make my last mortgage payment on Dec 15, 2012 and then be complete debt free!
So while the road is long, there are some bright spots on the horizon and I’m hopeful it isn’t a train that is going to run me over. *grin*
Any questions?
Posted by Canadian Dream on June 30, 2011
Long term readers might remember that my June updates typically suck. This one isn’t much different.
Assets
House $349,000
RRSP $27,600
LIRA $11,300
TFSA $11,400
Pension $35,700
Wife’s RRSP $19,900
Wife’s Investment Account $12,400
Wife’s TFSA $8,900
My Investment Account $6,200
High Interest Savings Account $1,400
Debt
Mortgage $58,900
HELOC $0
Net Worth $424,600 (+$3,700 or +0.9%) [+ 10.7% YTD ]
Investment Net Worth $134,500 (-$5400 or -3.8%) [+ 6.0% YTD]
Mortgage is down by $24,600 or 63% of my goal for 2011.
June typically isn’t a good month for a net worth update since I have several large bills due around this time. As such I usually see about $5000 leave savings to cover off property tax and house insurance. I could balance off the savings during the year with a balance owing, but that seems like over kill for one crappy update a year. Also the hit to the equity markets nicely reduced my investment net worth even further.
The good news in all of this mess of numbers is the mortgage keeps dropping nicely. Actually I checked as of today I could stop lump sum payments and my mortgage would still be paid off by the end of my current term in spring 2014. So at least there is some good news in all of this.
Oh, one last thing. Someone had previously asked how can I do these updates without my files being up to date in a previous post. The answer is I don’t use my files at all for these values, I pull all of them directly from each website so the values are as up to date as I can get them.
Any questions?
Posted by Canadian Dream on April 30, 2011
Well this month I hit an interesting milestone. I managed to max out our lump sum prepayment option on our mortgage for the 12 months. Which in practical terms means we put on almost $23,000 in lump sum payments in the last 12 months in addition to our regular payments. No wonder the mortgage balance is dropping like a stone.
Assets
House $349,000
RRSP $28,100
LIRA $11,600
TFSA $11,200
Pension $35,000
Wife’s RRSP $20,200
Wife’s Investment Account $12,800
Wife’s TFSA $8,800
My Investment Account $6,600
High Interest Savings Account $5,600
Debt
Mortgage $68,000
HELOC $0
Net Worth $420,900 (+$19,300 or +4.8%) [+ 9.8% YTD ]
Investment Net Worth $139,900 (+$1700 or +1.2%) [+ 10.2% YTD]
Mortgage is down by $15,500 or 40% of my goal for 2011.
So with the housing market finally kicking back into gear I was able to get a few similar listings to finally update my house value this month. I had been avoiding the update for a while since I really didn’t have more than a listing or perhaps two that were similar so it was tough to get an estimated market value.
My investment net worth was very stable over the time frame, while I did make minor contributions to it over the last two months, the markets also decreased a bit which offset most of the increase. Oh, well that happens when you have a a fair amount of equity exposure.
I did notice one interesting fact while I was calculating our combined TFSA balance, which now stands at $20,000. Not too bad given we only put in $10,000 so far…so a 100% gain in just a few years looks impressive as hell until you realize it was mainly just dumb luck that those stocks have done well and the stocks had fairly high yields when we bought them (AQN.TO, EIT.UN.TO, REI.UN.TO).
Any questions?
