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).
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)
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.
(click to make bigger)