Welcome to the Million Dollar Journey Oct 2009 Net Worth Update – The Halloween Edition
Halloween is here once again, it’s hard to imagine where time goes. It seems that the more we age, the faster time passes.
This year, we expect a lot of trick or treaters ringing our doorbell as our street is now fully developed (with street lights and everything!). I’ve heard rumour that there are over 200 kids in our immediate area, so I guess it would be a good idea to be over stocked with treats than under prepared. In terms of treats, we typically do the chips and bar thing, like Kathryn, we purchase our Halloween treats from Costco.
Nothing too scary to report in Octobers net worth summary. Most of the growth is due to steady savings and some portfolio growth. I did see a fairly signifant correction in my non-registered account as a speculative stock I own took a dive.
With regards to liabilities, if you take a look at the mortgage balance, you’ll see that it’s within striking distance of being completely paid off. I’m actually in a bit of turmoil with regards to what I’m going to do with the large HELOC space available. Should I continue to use the HELOC to invest with? Or should I use the increased cash from the previous mortgage payment to fund my investments? Or perhaps a combination?
Assets: $ 470,500 (+0.99%)
- Cash: $4,500 (+0.00%)
- Savings: $16,500.00 (+22.22%)
- Registered/Retirement Investment Account: $73,800.00 (+2.22%)
- Pension: $27,700.00 (+0.73%)
- Non-Registered Investment Account: $16,500.00 (-4.07%)
- Smith Manoeuvre Investment Account: $51,500.00 (+3.00%)
- Principal Residence: $275,000 (+0.00%) (purchase price)
- Vehicles: $5,000 (2 vehicles) (-16.67%)
Liabilities: $85,500.00 (-1.61%)
- Tax Liability: $3,000 (-0.00%)
- Principal Residence Mortgage (readvanceable): $29,200.00 (-4.89%)
- HELOC balance: $53,300 (+0.19%)
Total Net Worth: ~$385,000.00(+1.58%)
- Started 2009 with Net Worth: $309,950.00
- Year to Date Gain/Loss: +24.12%
Some quick notes and explanations to net worth questions I get often:
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.
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.