Time for the first net worth update for 2008!
January was ANOTHER volatile month in the markets and my portfolio was hit hard. Even though my non-registered portfolio is mostly cash right now (for the upcoming house and Smith Manoeuvre), my RRSP account took a beating.
This month, I took the advice of the readers and took out the insurance as a liability. What I did though, was subtract the equivalent amount off my savings so that there is no gain in my net worth because of it.
In terms of spending, this was not the greatest month. During the boxing week sales, we bought a new washer/dryer set (for the new house coming), along with a new laptop (Christmas gift for myself). On top of that, we starting buying some baby stuff. The upside is that our expenses are currently still low with our frivolous spending kept to a minimum.
Here are the numbers:
Assets: $ 384,500.00 (+0.23%)
- Cash: $4,500 (+0.00%)
- Savings: $120,400 (+2.03%)
- Registered Investment: $46,700 (-3.31%)
- Pension: $21,900 (+1.86%)
- Non-Registered Investment Account: $45,500 (+0.66%)
- Real Estate: $ 124,500 (investment property) (0.00%)
- New Home Deposit: $5,000 (+0.00%)
- Vehicles: $16,000 (2 vehicles) (-3.61%)
Liabilities: $ 102,300(-1.92%)
- Mortgage Debt(investment property): $94,300 (-0.21%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ $282,200 (+1.04%)
Started 2008 with Net Worth: $279,300
Year to Date Gain/Loss: +1.04%
Not a bad way to start 2008 considering how the markets are moving these days, but still a long way to go in order to reach my financial goals for the year.
Starting March, I'll be initiating my Smith Manoeuvre adventure. Do you think it would be a good idea to post my portfolio updates and progress?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).