January 2007 Net Worth Update (+4.43%)

It’s time for the January 2007 net worth update! This time around, I decided to include my wifes pension account as it would more accurately represent our net worth.


Cash: $4500 (this fluctuates)

Savings: $26000

Registered Investment Account: $33800

Pension: $16000

Non-Registered Investment Account: $40700

Real Estate: $ 266500 (2 properties)

Vehicles: $18000 (2 vehicles) (this will decrease in a hurry)

Total Assets: ~$405500


Mortgage Debt: $176500

Car Loan: $5000

Total Debts: $181500

Total Net Worth: ~$224000

This month we’re up 4.43% from the December 2007 net worth of $214500 (pension account of $16k added to December net worth).

Going forward, I’m going to move the net worth updates to the END of the month. So my next update will be the end of Feb 2007.

Happy investing everyone!

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FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.
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March 2007 Net Worth Update (+1.57%) - Million Dollar Journey
17 years ago

[…] […]

February 2007 Net Worth Update (+3.35%) - Million Dollar Journey
17 years ago

[…] This month we’re up about 3.35% from the January 2007 net worth of $224,000. Not quite as high as the 4.43% increase last month, but progress none the less. […]

17 years ago

I have a little advice about the accounting methodology you use in your balance sheet. First, I’m not expert on Canadian tax law, but your registered investment account and pension are subject to federal/provincal tax when withdrawn, correct? If they are, you should probably create an offsetting tax liability against these assets equal to the amount of your marginal tax rate. For example, if your pension is worth $16,000 and your estimated marginal federal/provincal tax rate is 25%, you should create a $4,000 deferred tax liability on the other side of the balance sheet. Effectively the government owns a portion of the value of these accounts. Also, it is rather aggressive to count your cars as assets on your balance sheet. I know that technically they are assets, but in reality their liquidation value isn’t that great. When you use aggressive accounting practices in a personal balance sheet, the larger net worth number might make you feel good about yourself, but in reality you are just fooling yourself.

canadian dollars
17 years ago

I try not to keep more than $1000 in my chequing day to day cash balance account just to maximize the amount in my savings account. I realize that people with mortgages to pay will want to keep a little extra in their chequing account to draw from though.

Aside from my car insurance, and gym membership, nothing else is debited directly from my account which is why I keep a relatively low chequing balance.

Canadian Dream
17 years ago


Ok I feel better. I’m not the only one who has forgotten to include a pension in their networth.

Still 4.4% is a nice increase. By the way, does cash include your normal spending money? I just leave my chequing account out of my networth calculations because it is already spoken for when my paycheque hits the account.

Just wondering,

canadian dollars
17 years ago

Hi there, can you explain your rationale for not paying down the car loan? Is it because the car loan is at a very favourable interest rate and that you’d rather use the $5000 to invest rather than to pay it off? Only reason I ask is because extra cash in savings, you should pay off the car loan. I know, I know, I’m probably preaching to the choir here.