Net Worth Update April

April was another great month! As I settle in to my new position I am feel confident I am really going to like it here in BC and living in a rural area the cost of living is much lower than I am use to which is a welcome surprise.

I have decided that going forward I should complete a net worth update fairly regularly (monthly would be ideal but perhaps quarterly would be more manageable)

My Net Worth April 2017

Net Liabilities
– Car Loan $28,000 (I just got a new car)
– Home Mortgage $272,000 (remaining)
– Credit ($3000) (I pay this off monthly so its not a liability)

Assets
– Car ($31,000 I Just got this and will update yearly for wear and tear)
– Home If Sold $400,000
– Manulife RRSP $33,040.75
– Scotia Itrade RRSP $7,435.00
– Scotia TFSA $47,650.00
– Cash $9,987.00
– Pension Great West Life $630.15

That being said my total net worth less liabilities is approximately $226,742. Not bad much better then expected mainly due to my aggressive pay down on the mortgage but I feel this is good progress.

With the 4% rule I have figured I would need about 1,000,000 net worth to live the rest of my life without the need for money. Based on this I am 25% retired!

I hope to keep doing this on a regular basis that what I can measure each month how my progress is tracking. An one day hopefully in the not to distant future I can retire financially independent and enjoy the beautiful world we live in.

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