Sept 2007 Net Worth Update (+2.27%)
It’s time again for my monthly net worth update – The Sept 2007 edition.
The first net worth update of the fall and we're off to a good start. After a slow summer, September was good to us and gave us a +2.27% increase in net worth. Although our liabilities remained the same, the net worth increase primarily came from cash savings and increased portfolio value as the markets have turned around.
Our house is now up on the market, so our net worth statements may get a slight shift when our home is sold. Perhaps I'll post a few articles about our home selling experience.
Ramblings aside, here are the numbers:
Assets: $447,600 (+1.33%)
- Cash: $4,500 (+0.00%)
- Savings: $40,000 (+8.11%)
- Registered Investment: $50,500 (+4.34%)
- Pension: $20,300 (+2.01%)
- Non-Registered Investment Account: $45,900 (+1.07%)
- Real Estate: $ 264,500 (2 properties) (+0.00%)
- New Home Deposit: $5000 (+0.00%)
- Vehicles: $16,900 (2 vehicles) (-0.59%)
Liabilities: $182,300 (-0.00%)
- Mortgage Debt(from 2 properties): $173,400 (-0.17%)
- Insurance: $900 (+50%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ 265,300 (+2.27%)
Started 2007 with Net Worth: $224,000
Year to Date Gain/Loss: +18.44%
Happy to report that we're up +18% year to date. Perhaps I should have set a goal at the beginning of the year but ideally, I would like to hit the 25% mark. We "should" get close to that goal providing everything goes as planned and no more market corrections. :)
Hey Peter, thanks for your feedback. We are currently building our next home, and we were looking to sell our existing home (already sold now). We “could” use the money to pay down the investment property, but that wouldn’t make much sense as that mortgage is tax deductible.
But yes you are right, in other scenarios paying down the mortgage would make much more sense than keeping cash in a taxable savings account.
Hi FT, question for you.. Would it not be wiser to pay down your existing mortgages instead of hoarding money? Depending on your mortgage rate would it make more sense to pay it down since i’m sure your after mortgage percentage is higher than 4.25%?
Hey MG! Great point, it’s definitely not a great place to invest your money especially after taxes. However, the reason why I keep such a high balance in there is because.. i’m a money horder. :) No, seriously, we’re in the process of building our next home, so we’re saving our cash for a larger down payment.
FT,
I am wondering what your rationale is for holding such a large amount of capital in a place that probably yields you 1.0% above inflation at best…
Hey BC, I haven’t crunched the numbers for Sept, but here was my organic growth from Jan 2007 – June 2007:
https://milliondollarjourney.com/financial-goals-progress-june-2007.htm
FT,
Just wanted to know how your assett grew this year beside your saving. eg. return on equity, interest etc.
BC
moneygardener, we hold our savings cash in a PC Financial high interest savings account. The account is currently paying 4.25% interest.
Good progress.
I am curious what your ‘savings’ category is held in?
FT,
You never know when you will hit a real estate boom. After all I moved to Regina of all places and hit one.
Tim
You should tell us how much of the increase in net worth was from savings and equity payments in mortgage. Because increases are not all ‘gains’.