April 2018 – Net Worth

Welcome to my net worth posts where I try to prove to myself and you that I wasn’t crazy for leaving work in the fall of 2017 to start my early retirement.   A few important notes:  we are mortgage free and our goal is have our income/investment gains exceed our spending on a 12 month rolling average (please note this metric is still under development).



RRSP $63,800
LIRA $17,300
TFSA $93,310
Pension $171,580
Wife’s RRSP $91,230
Wife’s TFSA $86,840
Wife’s Taxable $45,740
High Interest Savings Account $40,270

Investment Net Worth $610,070 ($3950 Contribution, $650 decrease over last month from investments)

Home Equity

Estimate $395,000


To keep things simple I’m only going to track what income comes into our main ‘house’ chequing account.  I won’t be tracking my wife’s or my businesses income as those don’t really matter until the money moves over to the ‘house’ account.  Also I won’t track investment gains since that is covered above.

  • Wife’s Monthly Payment to House: $550
  • Child Tax: $310
  • Tax Refund $3950 (note I included this in the contributions above to avoid double counting this below).
  • Total Income: $5077

Well thanks to our tax refund our net worth has made a nice increase this month because without it things would have been going down.


Last Month $2313

Again a average spending month but that is normal this time of year for us.


Net Worth ~$1,005,070

This Month Investment Gains & Income/Spending Ratio = (-605+5077)/2323 = 1.9 (Target 1 or higher)

Sept to Apr Invest Gain & Income/Spending Ratio = (10209+13839)/21498 = 1.12

Just a note on the multiple month ratio I stripped out all income related to my old job from the early months to provide a more realistic picture for retirement.


Ah, the lovely tax refund which helped most of the ratios do really well this month.  Of course going forward I won’t be able to depend on that but that is fine during this up and down first year retirement.

Any questions?

(click to make bigger)

3 thoughts on “April 2018 – Net Worth”

  1. The accountant in me says the tax refund should show in last years numbers. But nice to see the bump in NW. I kind of think of every month as being 1 more down and 1 less to go. Congrats again for taking the step I’m terrified to take.

  2. Hi Tim, I’m curious how did you manage to have $171k in pension? Did you contribute a lot? I left work last month and checked with the insurance company that is supposed to mail me the pension info and they told me I only have ~52k, which I believe will be locked in retirement.

  3. @Misuchiru – I did contribute a LOT to my pension. Our base contribution was about 5% of my earnings for me and another 6% for the company. Then we had several options for voluntary contributions and I used all of them for pension for most of my career which put in an additional 4.9%. Do that for ten years and it starts to really add up. My pension unlocks at 50 so I only have a decade to wait.

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