Feb 2019 – 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 by 102% on a 12 month rolling average (the extra 2% is a buffer for inflation).



RRSP $58,720
LIRA $17,770
TFSA $95,330
Pension $176,160
Wife’s RRSP $93,950
Wife’s TFSA $86,050
Wife’s Taxable $43,410
High Interest Savings Account $36,490

Investment Net Worth $607,880 ($13,250 increase 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: $340
  • Interest $38
  • Tim Odd Job: $125
  • Total Income: $1053


Last Month $1608

A very quiet month for spending.  Basically we just paid the bills, bought gas and groceries and the usual day to day stuff.


Net Worth ~$1,002,880

This Month Investment Gains & Income/Spending Ratio = (13250+1053)/1608 = 8.9 (Target 1.02 or higher)

March 2018 to Feb 2019 Invest Gain & Income/Spending Ratio = (-6518+18473)/35324 =0.33 (Target 1.02 or higher)


Well this month had a few oddities.  First up a friend needed help with a quick job one afternoon so I helped and got paid $125 for 4 or 5 hours of work.  Not too bad for a last minute thing.

The second more fun oddity was the markets kept bouncing back from the low in December 2018.   We have gain over $30k in the last two months which turned around our numbers nicely.  Our ratio of investments and income to spending is now back to positive at 0.33 for the last 12 months which while behind target our target of 1.02 is not bad.  More importantly, when I tracked our investment gains since I retired we are now back to being $8k higher than I started after being negative for the last few months.

Then finally this month I’ve made significant progress on the new book.  I wrote about 10,000 words this month which equals around 40 pages of text.  I’ve finally got a good routine with my writing and I’m hoping to finish the first draft roughly by the end of next month.  The bad news while a first draft is good I still have to hire an editor, get the layout done, get  cover designed, get the ISBNs registered, and everything else to get the book published.  So you likely won’t see the book until this fall at the earliest.  Once things are progressing on that front I’ll let you all know the planned publication date and where you can get a copy of the book.

Any questions?

(click to make bigger)

9 thoughts on “Feb 2019 – Net Worth”

  1. Rick – “Can’t believe your wife still works”?

    I don’t get this comment… At $600K in savings, retirement seems premature – my opinion only. Using 4% rule, this would net $24K per year… at 3%, we’re talking $18K. Yes, there’s little tax at these levels, but this isn’t an ideal nest egg – again, my opinion.

    This site talks “retirement”, but it’s less of a retirement program and more a site that demonstrates the benefits of saving early and then shifting to a less hectic lifestyle. The message here is great, and this should be shared broadly – spend less than what you earn, save early, reap the rewards later….

    Both husband and wife continue work, albeit perhaps at a different pace and urgency. I’d think if both stopped working that $600k would not last… Maintaining some level of income is crucial given the savings here and age of Tim and his wife.

  2. Looking good! With expenses as low as that you are in a great position to avoid dipping into your savings too much. I now have to go back through your posts to see how you got expenses so low 🙂 I do have a mortgage and 2 cars (paid off but maintenance, gas and insurance still add up). I really need to figure out how to minimize my expenses! I suppose if I stopped working I could trim some of that 🙂 oh and, pay off my 186k mortgage. Clearly I have a ways to go. Great work, looking forward to the book!

  3. Hi Tim, would it be possible to show a more detailed break down of your monthly spendings? I know we live in different cities but it’s so amazing to see that your family is only spending ~1600 for a family of 4! Where I live sometimes just paying all the monthly bills (hydro, heat, phone, internet, insurance etc.) can already add up to ~1000, and that’s not including groceries or eating out, nor property taxes (since that comes as two big instalments every year). If you don’t want to show this every month, maybe pick a month that you are comfortable with and show us the breakdown? If that’s asking for too much then don’t worry about it!

  4. @Rick – Yes she does. When you are self employed you don’t have any useless meetings and very little red tape. She likes what she does and wanted to keep doing it so I put that into the plan.

    @gofi – Not likely, publishing is way more than a single post. I read several books and talked with others prior to doing publishing my first book.

    @freddy bee – Well of course. Why would I fully retire and never work again for over 50 years? I’m young and have other interests. If you don’t like the word ‘retirement’ call it what ever you want. As to the money, our plan includes us not using much of the investments for the next four years (less than 2.5% of assets) which should allow those to grow and fully retire if we want later on.

    @T on FIRE – I suggest you look at your monthly bills and ways to cut those at first (do you watch all your cable channels or any of them, do you need you current cell plan, do you need two cars?).

    @misuchiru – Well it might help to realize we don’t even out any of our annual bills to monthly. So I pay all my property tax with a single payment, all our house insurance with a single payment and all our car insurance with a single payment. February doesn’t have any of those single payments so it ends up being very low. Rough breakdown of cost are as follows: $670 in cash (normally this is just $560 for spending cash but we had a few other items this month), $422 in utilities (three cell phones, internet, cable, water, heat and power), $276 in food (just groceries), $99 shopping (my wife bought a new cover for her tablet and I bought some game stuff), $54 school costs (my oldest is doing a day ski trip), $50 gas for the car, $36 other (Netflix, special lunch for the kids at school and a power cord). Ironically, I didn’t even spend all my spending cash in February as I’m saving up for buying gear for brewing all grain beer.

  5. Thanks for the detailed info…quick question which may have been covered off but you mention family of 4 (so I assume 2 children still at home)…what are your plans for RESP etc for the impending College/University needs on the horizon?

  6. Thanks Tim! Last month’s heat /gas bill was a record high of almost $170 for us. =( Next month’s numbers should be interesting with the tax returns.

    Looking forward to your new book as well.

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