July 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.



RRSP $58,050
LIRA $16,520
TFSA $85,950
Pension $163,870
Wife’s RRSP $85,990
Wife’s TFSA $78,840
Wife’s Taxable $53,380
High Interest Savings Account $38,810

Investment Net Worth $580,410 (increase of $4,550 over last month)

Home Equity

Estimate $395,000


Last Month $3188

Nothing too interesting this month with spending other than we went on our summer vacation camping for 10 days and then a visit with some family.

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 $2633 (or $31,606 for the last 12 months)


PF Score: 30.9 {Target 31}

Net Worth ~$975,410


“This is mission control.  Are you at target?”

“Yes sir, we can confirm we are approaching target.”

” You are clear. Prepare to launch.”

And with that I have almost reached our target for investments and I can really quit any day now.   I mean literally anytime like today, but  while I’ve almost met the number target I haven’t hit the time target I previously  set out for myself.  So I will likely have a bit of excess money in the plan by the time I leave work.  It’s sort of a nice problem to have.

Any questions?

(click to make bigger)

7 thoughts on “July 2017 – Net Worth”

  1. Hi, I am a french Canadian who really like your blog. I am 38 years old and i am targeting 45 as retirement age. My pf score is 25 but we will be around 40 in 7 years. I would like to make you a suggestion regarding your situation. I believe you are targeting a bit to low regarding your net worth, since the investment return are going to be much lower in the next decades. For example i am targeting a net Worth of 2millions with net expenses of 50k a year. If you start your retirement with a bear Market it would be a big challenge for you.

  2. HI Scott,

    Let’s take the bond part of a portfolio. The long USA bond yield average 7% for the last 35 years. Right now you are at 3%. Then for the next decades it is impossible to get the same return that for the prior decades. For the equity part of a portfolio you can draw the same conclusion since the assets are trading relative to the others. I believe you should divide by 2 the historical returns to get the expected return. A balanced portfolio should return 4% to 5% for the next decades. With that kind of return and an inflation at 2% you get very low real return.

  3. Hey Tim,

    Nice progress. I’m aspiring to be an early retiree as well. Can you point me in the direction of any of your articles regarding draw-down strategy? I’ve got a blend of RRSP and TFSA. I know that I can basically pay no tax by RRSP splitting with my wife and topping up our spend needs with TFSA funds (our target annual spend is about $24k).

    What I’m not sure about is if once I roll our RRSP accounts over to RIF’s, have I closed the doors on ever having another RRSP account? I don’t plan on having to go back to work once I retire, but if I ever decide to, I’d like to be able to put money back in an RRSP. Could you point me in the direction of any useful documentation that I could read to better plan my retirement?


  4. Greetings from Montreal, first time here but it looks like you’re already set to go! You mentioned time target in the post, what’s your time target?

  5. Still doing solid Tim! You seemed to have weathered the slowdown in markets of recent pretty well, are you mostly in index funds?

    Check out this video if you aren’t:


    I also see you are far from the 4% rule for retiring or 25x investment value over your annual spending. The home equity is the backup plan?

  6. July was not much better than June when it comes to stock market performance. My 60/40 portfolios went down both months. Curious to know how much of $4,550 increase was due to savings vs portfolio value increases? Thx.

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