Time for another net worth update: The Feb 2008 Edition!
This was a very non eventful month where we are gearing up for the big move next month. Most of the non-registered portfolios are cash right now which means very little growth on that side of things.
On the RRSP side of things, I recovered a bit from the previous months losses as the markets have improved.
In terms of spending, we are starting to get some of the nursery purchases out of the way, but thankfully that hasn't affected the pocket book too much as the grand parents/family have helped out a lot.
Here are the numbers:
Assets: $ 388,900 (+1.14%)
- Cash: $4,500 (+0.00%)
- Savings: $122,400 (+1.66%)
- Registered Investment: $48,800 (+4.50%)
- Pension: $22,200 (+1.37%)
- Non-Registered Investment Account: $45,500 (+0.00%)
- Real Estate: $ 124,500 (investment property) (+0.00%)
- New Home Deposit: $5,000 (+0.00%)
- Vehicles: $16,000 (2 vehicles) (-0.00%)
Liabilities: $ 102,100 (-0.20%)
- Mortgage Debt(investment property): $94,100 (-0.21%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ 286,800 (+1.63%)
Started 2008 with Net Worth: $279,300
Year to Date Gain/Loss: +2.69%
The rest of this year will be interesting with the new home purchase along with the wife going on maternity leave soon. The bigger mortgage along with a 25% income cut has my stomach in knots! I suspect that significant net worth increases will be more challenging moving forward, unless the markets go into crazy bull mode again (doubtful).
One thing that we're going to have to work on is increasing frugality and alternative income sources to make up for lost income due to maternity leave.
Going forward, I will be posting my DIY Smith Manoeuvre setup. Stay tuned, March should be an interesting month!If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).