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 $97,830
Wife’s TFSA $87,760
Wife’s Taxable $44,670
High Interest Savings Account $33,580
Investment Net Worth $620,530 ($9640 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: $869
- Child Tax: $340
- Interest $32
- Tim Brewery Job: $67
- Total Income: $1308
Last Month $2432
Well I was hoping for a lower spending month but that didn’t happen. Why? Well our bill came due to attend the outdoor NHL game this fall in Regina $512 for four tickets (which was a bucket list item so we don’t mind the cost at all). And my wife owed money for income tax $320 (actually her CPP contribution).
Net Worth ~$1,015,530
This Month Investment Gains & Income/Spending Ratio = (9690+1308)/2432 = 4.52 (Target 1.02 or higher)
May 2018 to April 2019 Invest Gain & Income/Spending Ratio = (10480+15386)/36761 =0.70 (Target 1.02 or higher)
Well as I previously noted I got the new library job but I haven’t been paid yet, but I did work a shift at the brewery so that gave us a bit extra cash in April which again went towards me buying my own brewery equipment. As an aside I realized why I partly love the new library job…my earliest shift doesn’t start until 9am which means I should never had to set an alarm to get up for it (I usually get up between 7am and 8am and very rarely sleep until 8:30am).
The other big change to this month was that just over $50,000 was shifted out of my pension into my RRSP. I previously discussed why this was happening here but in short it was I decided to move my unlocked portion of my pension that over to my RRSP to give us additional flexibility on accessing the money. And of course the markets had a nice upsurge which helped push up our net worth to a new all time high. And our year ratio has improved to 0.70 which while not meeting target is moving in the right direction.
The new book continues to move along but slower than I wanted. The overall manuscript is now over 54,000 words (~216 pages) and the first draft is done. The editing has been moving very slowly this month as the interview and starting my new job sucked up some of time and more of my attention for the month. But now that I’m setting into a new routine I should start making more progress in May.
(click to make bigger)