Welcome to the Million Dollar Journey Nov 2009 Net Worth Update

It’s almost the end of 2009 and my net worth growth (along with many others) has been on a steady climb over the months.  Most of the gains this year has been from rapidly appreciating equity markets since March 2009, strong income and, most importantly, savings.  Providing that the markets stay the course through December, our family net worth will be within striking distance of the $400k threshold.  Still a ways to go until the $1 million milestone but movement in the right direction none the less.

Looking at the most recent net worth update below, this past month was especially strong for savings.  This increase was due to my wife receiving a bonus along with a change in my tax liability calculations (behind the scenes).  We had another large drop in my non-registered account due to a volatile penny stock that I own.  Although most of my equity is invested for the long term, I like to set aside some “play” money to take a few chances.

On to the numbers:

Assets: $ 474,550 (+0.86%)

  • Cash: $4,500 (+0.00%)
  • Savings: $21,500.00 (+30.30%)
  • Registered/Retirement Investment Account: $74,000.00 (+0.27%)
  • Pension: $27,850.00 (+0.54%)
  • Non-Registered Investment Account: $15,700.00 (-4.85%)
  • Smith Manoeuvre Investment Account: $52,000.00 (+0.97%)
  • Principal Residence: $275,000 (+0.00%) (purchase price)
  • Vehicles: $4,000 (2 vehicles) (-20.00%)

Liabilities$83,200.00 (-2.69%)

  • Tax Liability: $3,000 (-0.00%)
  • Principal Residence Mortgage (readvanceable): $26,800.00 (-8.22%)
  • HELOC balance: $53,400 (+0.19%)

Total Net Worth: ~$391,350.00(+1.65%)

  • Started 2009 with Net Worth: $309,950.00
  • Year to Date Gain/Loss: +26.26%

Some quick notes and explanations to net worth questions I get often:

The Cash

The $4,500 cash are held in chequing accounts to meet the minimum balance so that we pay no fees (accounting for regular bill payments). Yes, we do hold no fee accounts also, but I find value in having an account with a full service bank as the relationship with a banker can prove useful.


Our savings accounts are held with PC Financial and ING Direct. We usually hold a fair bit of cash in case “something” comes up. The “something” can be anything that requires cash such as an investment opportunity that requires quick cash or maybe an emergency car/home repair.  We also need cash to cover any future tax liabilities.

Real Estate

Our real estate holdings consist of a primary residence plus a rental property. The value of the principal residence remains valued at the purchase price despite significant appreciation in the real estate market that we’re in.  I will most likely be adjusting the value of the home come the new year.

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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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14 years ago

Congrats on the milestone! :)

Sometimes I think when I get to a million UK pounds I’ll move somewhere cheap for at least a few years and try living off the dividends (£1,000,000 = just under CAN$1,700,000).

Conventional ‘retirement’ theory would say I’d need quite a bit more, especially as I’d hopefully still be relatively young (although in reality I probably will never stop earning an income, also as such. I tried it once and I was bored and distracted – a good lesson).

I’ve probably missed it but do you have a plan for your $1million? Or is it more of a tangible goal than an end?

14 years ago

wow you’re almost at half a million! Congratulations =) Hopefully the 2nd half goes even faster than the first!

Stephen R
14 years ago

Sorry, just after I posted the question I found I had missed the answer as one of your comments in the August 2009 update.

Stephen R
14 years ago

I’m curious how you’re calculating the value of your vehicles. I may have missed a reference to that in previous posts, though.

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14 years ago

Wow, that’s cool that your so open with the numbers, which are very impressive.

14 years ago

Thanks, appreciate the response and the writing.

14 years ago

Just found your site and like it very much.

I have been reading your items on the SM and found them to be immensely informative. I have one question on your use of the tactic. Based on your net worth statement, it looks like you have leveraged your home somewhat modestly. Can I ask why you aren’t closer to the 70% range?

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14 years ago

Yes congrats on the net worth progress. Your financial organization is amazing. I only wish I could keep everything so well planned. I obviously still have a lot of learning to do. Then again I’m still young and I don’t have a mortgage or major investments yet.

14 years ago


I would disagree. I would divide by the previous month’s total.

Basic example: last month it was $25k. This month it is $50k. My networth has obviously doubled. Running the math it is:

($50k – $25k) / $25k x 100% = 100%. I have seen a 100% increase in my networth.

If we did it the way you suggest it would show only 50%. This would be what last month’s networth is compared to this month with the baseline being this month. We want the baseline to be last month.