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Sept 2007 Net Worth Update (+2.27%)
It’s time again for my monthly net worth update - The Sept 2007 edition.
The first net worth update of the fall and we're off to a good start. After a slow summer, September was good to us and gave us a +2.27% increase in net worth. Although our liabilities remained the same, the net worth increase primarily came from cash savings and increased portfolio value as the markets have turned around.
Our house is now up on the market, so our net worth statements may get a slight shift when our home is sold. Perhaps I'll post a few articles about our home selling experience.
Ramblings aside, here are the numbers:
Assets: $447,600 (+1.33%)
- Cash: $4,500 (+0.00%)
- Savings: $40,000 (+8.11%)
- Registered Investment: $50,500 (+4.34%)
- Pension: $20,300 (+2.01%)
- Non-Registered Investment Account: $45,900 (+1.07%)
- Real Estate: $ 264,500 (2 properties) (+0.00%)
- New Home Deposit: $5000 (+0.00%)
- Vehicles: $16,900 (2 vehicles) (-0.59%)
Liabilities: $182,300 (-0.00%)
- Mortgage Debt(from 2 properties): $173,400 (-0.17%)
- Insurance: $900 (+50%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ 265,300 (+2.27%)
Started 2007 with Net Worth: $224,000
Year to Date Gain/Loss: +18.44%
Happy to report that we're up +18% year to date. Perhaps I should have set a goal at the beginning of the year but ideally, I would like to hit the 25% mark. We "should" get close to that goal providing everything goes as planned and no more market corrections. :)
17 Comments, Comment or Ping
1. The Financial Blogger
Congrats FT !
it seems that nothing can stop you from increasing your net worth! That’s awesome!
keep it up!
Sep 28th, 2007 @ 7:21 am
2. Jonathan
It’s interesting when people provide visibility into their finances since it seems to be a touchy subject for most.
Looks like you’ve made some good decisions. Congrats.
Sep 28th, 2007 @ 10:11 am
3. FourPillars
Good work.
One of my complaints against net worth calculations is that I don’t believe anyone can accurately estimate the value of real estate. I think it would be interesting if you could indicate in someway how accurate your estimate for your principal home was once you sell it.
You can either mention the exact values or just the difference ie 5% difference.
Mike
Sep 28th, 2007 @ 10:21 am
4. Canadian Dream
FT,
Way to go. Now all you need is a real estate boom before you sell your house and you could be up 50% for the year. :)
Best of luck,
Tim
Sep 28th, 2007 @ 10:22 am
5. FrugalTrader
Thanks for the feedback guys!
FP, my value of real estate is based on a comparative market analysis (took low end number) by my agent MINUS the real estate commissions. I’m usually pretty conservative with my valuation numbers.
CD, I could only wish for a real estate boom! :)
Sep 28th, 2007 @ 10:31 am
6. Fab
FT,
I am very happy to see that everything goes well for you ;)!
Why not adding this blog on your assets?
Fab
Sep 28th, 2007 @ 11:26 am
7. FrugalTrader
Hey Fab, it’s difficult to add value to this blog as I have no idea what it would sell for in the market place. For now, i’ll consider MDJ a bonus. :)
Sep 28th, 2007 @ 11:29 am
8. Alex
You should tell us how much of the increase in net worth was from savings and equity payments in mortgage. Because increases are not all ‘gains’.
Sep 28th, 2007 @ 1:46 pm
9. Canadian Dream
FT,
You never know when you will hit a real estate boom. After all I moved to Regina of all places and hit one.
Tim
Sep 28th, 2007 @ 4:41 pm
10. moneygardener
Good progress.
I am curious what your ’savings’ category is held in?
Sep 28th, 2007 @ 4:45 pm
11. FrugalTrader
moneygardener, we hold our savings cash in a PC Financial high interest savings account. The account is currently paying 4.25% interest.
Sep 28th, 2007 @ 7:10 pm
12. B. C. Dhawan
FT,
Just wanted to know how your assett grew this year beside your saving. eg. return on equity, interest etc.
BC
Sep 29th, 2007 @ 11:03 am
13. FrugalTrader
Hey BC, I haven’t crunched the numbers for Sept, but here was my organic growth from Jan 2007 - June 2007:
http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm
Sep 29th, 2007 @ 12:35 pm
14. moneygardener
FT,
I am wondering what your rationale is for holding such a large amount of capital in a place that probably yields you 1.0% above inflation at best…
Sep 30th, 2007 @ 12:49 pm
15. FrugalTrader
Hey MG! Great point, it’s definitely not a great place to invest your money especially after taxes. However, the reason why I keep such a high balance in there is because.. i’m a money horder. :) No, seriously, we’re in the process of building our next home, so we’re saving our cash for a larger down payment.
Sep 30th, 2007 @ 12:53 pm
16. peter brieger
Hi FT, question for you.. Would it not be wiser to pay down your existing mortgages instead of hoarding money? Depending on your mortgage rate would it make more sense to pay it down since i’m sure your after mortgage percentage is higher than 4.25%?
Oct 15th, 2007 @ 9:47 pm
17. FrugalTrader
Hey Peter, thanks for your feedback. We are currently building our next home, and we were looking to sell our existing home (already sold now). We “could” use the money to pay down the investment property, but that wouldn’t make much sense as that mortgage is tax deductible.
But yes you are right, in other scenarios paying down the mortgage would make much more sense than keeping cash in a taxable savings account.
Oct 16th, 2007 @ 8:41 am
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