Here are our numbers:
Assets:
- Liquid Cash - $13,204
- This is everything we can easily liquidate incase of emergency without any penalties.
- Retirement - $125,619
- The largest account in here is G's pension. We use the transfer value on his pension statement (updated everything month), as that is what we would be able to transfer to a LIRA (locked in retirement account) if he were to quit. The rest would be my pension and RRSPs. I toyed with the idea of placing our TFSA's in here but decided against it as if shit really hit the fan: we can easily access that money even though it is invested.
- Hard Assets (House, Cars (private sale amounts) - $257,000
- House value is what we paid of the house plus a little extra to account for the new windows. Car values aren't updated every month, but they are the private sale figures I was able to calculate online.
Liabilities:
- Mortgage - $156,912
- 16 years and 6 months left on our mortgage! Mortgage term renews in 2021 and our current interest rate is 2.89%. We haven't made any extra payments to our mortgage but did change our payment structure to accelerated bi-weekly when we set it up. This made a huge difference.
- Consumer (Cars, LOC, etc) - $45,196
- Working on this...
Net Worth: $193,715
Our big goal for 2017 has been ending the year with at least $200,000 networth, which I believe we should have no issues accomplishing. I would personally love to end the year with $150,000 in our retirement accounts but that would be up to the markets because we aren't going to be adding anything extra, besides our regular contributions, while in debt.
Does anyone else keep track of net worth? Has it been eye opening to see change over the years?
- M
PS: Our first net worth I calculated was back in March 2014 and we were negative $494! Started from the bottom now we're here ;)
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