Networth - December 2021

Assets:

Liquid - $23,451.85
This is anything we can easily liquidate with no penalties given a real emergency. I used to include our TFSA's in here but I need to get out of that mindset that we can use those accounts for emergencies. Instead focusing on setting up a buffer account and a proper emergency fund.

Retirement - $425,860.69
G’s pension is a defined benefit pension at his work. For this calculation we take the cash value of the pension he would receive if he were to quit. This also includes my pension and RRSP’s. Also includes our TFSA's.

Hard Assets - $251,000.00
House value and car private sale amounts. The car values I update yearly in December.

Liabilities

Mortgage - $121,424.87

Consumer - $13,521.74
The only consumer loan we have right now is a car loan.

Networth: $565,365.93

I would love to see our retirement hit $500,000.00 by the end of this year and I feel like in a perfect world, with no major market corrections (haha), we can do it. But we do have some major RRSP contributions coming up that will put a big dent in that $75,000.00 goal but we will see how everything plays out. We have our retirement savings on autopilot, and have been chunking money at our TFSA's when we have a good month.

Using our 2021 budget, I'm going to run our average numbers and calculate how realistic our $15,000.00 emergency fund is. So depending on what I find we might focus on beefing that account up. 

- M