Net Worth – Oct 2011

I feel like I’m on a roller coaster on these net worth updates.  Down and then up…at least going up is fun.


House $367,000
RRSP $27,300
LIRA $11,000
TFSA $14,400
Pension $38,000
Wife’s RRSP $21,500
Wife’s Investment Account $12,900
Wife’s TFSA $10,800
My Investment Account $6,200
High Interest Savings Account $1,500

Mortgage $47,600
HELOC $4,000

Net Worth $459,000 (+$35,200 or +8.3%) [+ 19.7% YTD ]
Investment Net Worth $139,600 (+$10,300 or +8.0%) [+10% YTD]
Mortgage is down by $35,900 or 92% of my goal for 2011.

Like all good things, sometimes it takes some patience to get there.  Case in point this net worth is so hugely different from my last one it is almost scary (ok poor joke in honour of Halloween).

So a few major things shifted in the last two months.  I got some much better data on housing prices in my area and the value of my house shot up again…not too surprising since I came across a stat saying housing prices on average are up almost 15% from last year.

The other improvement was the remarkable stock market jump from my last net worth update at the end of August.  That helped correct that poor result and put things back on track.

The last good news is my mortgage goal for the year should be easily reached at this point.  Actually I might be able to even exceed it a little bit if things go well.

Any questions?

3 thoughts on “Net Worth – Oct 2011”

  1. Nice work! With these sort of numbers, what are your main financial goals for the future? Second property, or continue building investment accounts? Have you pinpointed any methods to drastically increasing your rate of return on these investments (American real estate, higher risk stocks, new business ideas?)

    Thanks for the update

  2. Relying on the continued increase of housing values as a method of increasing one’s net worth is a mistake that too many Canadians have made. That gravy train is likely to be over soon… I say this as a home owner in Vancouver who has reaped the benefits of the real estate boom over the last ten years.

    Thankfully, my wife and I worship at the alter of the LBYM lifestyle and, like Tim, have made debt elimination a top priority – coupled with our 50 – 60% savings rate, we are determined to buck the trend that Canadian personal finances are in BIG trouble.

    And no, I am not Garth Turner. 😉

  3. @Matt,

    The immediate goal is debt reduction and will continue to be until the end of next year. After that I will shift focus to the investment accounts at which point they should take off significantly.

    I have no interest in increasing my rate of return dramatically. It’s a fools game to hunt large returns. I have by luck got a few large returns, but I don’t make a habit of it. To me the goal is cash flow from investments so I usually don’t go for growth stocks.


    I agree that even in my case the house has really boosted my net worth, but after next year I will be dropping that as a measure. Once the mortgage is gone the house doesn’t have any other part of the plan, so I will shift focus to the investment net worth. So even if the housing market crashes I don’t care, I’ve got a paid for home.


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