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).
Wife’s RRSP $93,190
Wife’s TFSA $87,420
Wife’s Taxable $45,110
High Interest Savings Account $36,450
Investment Net Worth $612,900 ($3090 decrease over last month from investments)
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
- PST rebate on life insurance $9
- Total Income: $899
I can’t believe I got a cheque for just under $9 to rebate the PST on my life insurance I just paid in April. Sigh.
Last Month $6856
Welcome to the most expensive month of the year for my family. Why? Our property taxes are due in June for $3756 and our house insurance was also due for another $1523. Other than those the rest of the month was fairly low key.
Net Worth ~$1,007,900
This Month Investment Gains & Income/Spending Ratio = (-3090+899)/6856 = -0.3 (Target 1 or higher)
Sept to June Invest Gain & Income/Spending Ratio = (13039+16389)/30855 =0.95
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.
So with our really spending month we drove our multiple month ratio under target, which means we have now spent more than we took in in the last 10 months. I’m not that worried as this is mainly the result of that really high spike in spending this month. Likely it will end up closer to one after the next two months.
(click to make bigger)