Trying for Freedom 55 ... in 10 years

[Financial Cents]

Previous Update - Jan 4, 2012.

Assets:
- $ 280,000 House [will update once every 6 months]
- $ 212,220 DB Pension Value [will update once every 6 months]
- $ 42,290 RRSP(s) [was $ 41,282]
- $ 6,464 TSFA (mine) [was $ 6,453]
- $ 6,464 TSFA (Wife’s) [was $ 6,453]
- $ 5,526 Investments Non-RRSP [was $ 5,154]
- $ 5,538 Cash [was $ 3,331]

- $ 558,501 Total Assets [was $ 554,893]


Liabilities:
- $ 300 Credit Card [was $ 259]

Posted our Bi-monthly update a couple of days early since we'll be in Cuba tomorrow

I'm still pretty happy with our progress. We're up $3,608 since my last update on Jan 4th, and we're up $27,440 since I started this thread back on Sept 26, 2011.

Very well done. No mortgage? Great stuff. Hope to be there in another 12 years.

[mind_business]

We've been focusing on eliminating debt, and now saving at a much higher rate, however our portfolio diversification is pretty much non-existent. I've been doing some reading lately in hopes to gain some better insight into the right mix, and some appropriate investment vehicles to suit my goals.

To get some insight into this subject, I've been doing some reading. I recently read 'The Wealthy Barber Returns'. It's a great book for people who need to understand the importance of debt reduction and savings. I've already learned this lesson. So, based on a recommendation made on this site, I went out and purchased 'The Four Pillars of Investing'. Looking forward to reading it. I think I'm one of those weirdos that actually enjoys reading financial books

Anyhow, this will be my focus over the next couple of months. I have too much of my money in higher risk, equities.

[mind_business]

Previous Update - Jan 13, 2012.

Assets:
- $ 280,000 House [will update once every 6 months]
- $ 212,220 DB Pension Value [will update once every 6 months]
- $ 41,034 RRSP(s) [was $ 42,290]
- $ 7,826 TSFA (mine) [was $ 6,464]
- $ 7,826 TSFA (Wife’s) [was $ 6,464]
- $ 4,992 Investments Non-RRSP [was $ 5,526]
- $ 4,004 Cash [was $ 5,538]

- $ 557,903 Total Assets [was $ 558,501]


Liabilities:
- $ 637 Credit Card [was $ 300]

Took a bit of a step backwards the last couple of weeks. I blame it on our Cuba trip this month. Those darn excursion day trips cost more than I anticipated. But they were a blast

Back to some serious savings again.

[mind_business]

Previous Update - Feb 2, 2012.

Assets:
- $ 280,000 House [will update once every 6 months]
- $ 212,220 DB Pension Value [will update once every 6 months]
- $ 43,137 RRSP(s) [was $ 41,034]
- $ 7,860 TSFA (mine) [was $ 7,826]
- $ 7,860 TSFA (Wife’s) [was $ 7,826]
- $ 5,593 Investments Non-RRSP [was $ 4,992]
- $ 5,413 Cash [was $ 4,004]

Assets:
- $ 561,446 [was $ 557,903]


Liabilities:
- $ 637 Credit Card [was $ 637]

That's a bit better than my last update, helped along by a riskier stock investment

[mind_business]

Ok, just contributed my last RRSP contribution for the 2011 Tax Year.

$5,578.56 Automatic deductions for Co. matching plan (Mar - Dec, 2011)
$1,034.76 Automatic deductions for Co. matching plan (Jan - Feb, 2012)
$1,500.00 Today's contribution to Direct Investing Account
8,113.32 Total

That still leaves me $671.68 in RRSP Contribution Room for 2011. Might top this off on Tuesday.

Having a company Defined Pension Plan greatly reduces my maximum allowable contribution room to RRSP's. 2011 Pension Adjustment = $11,735.00.

[JustAGuy]

Previous Update - Feb 2, 2012.
Assets:
- $ 5,413 Cash [was $ 4,004]
Liabilities:
- $ 637 Credit Card [was $ 637]

Just curious why you would grow your bank account $1400 without paying off that $637 Credit Card... I presume you're paying more monthly interest than you're gaining interest on your cash? You've only got the one liability... and it's a small one at that... so why keep carrying it forward?

[mind_business]

Justaguy, I would never carry a balance over to the next month. It only looks like it because you're comparing results from a 2 week period.

To avoid confusion, and to avoid boring everyone here, I think I'm going to limit my balance reports to once a month. More relevant that way anyhow.

[steve41]

Justaguy, I would never carry a balance over to the next month. It only looks like it because you're comparing results from a 2 week period.

To avoid confusion, and to avoid boring everyone here, I think I'm going to limit my balance reports to once a month. More relevant that way anyhow.

This is too creepy. Why not once a year, or more to the point once every 5 years. Again.... creepy.

[mind_business]

This is too creepy. Why not once a year, or more to the point once every 5 years. Again.... creepy.

Hadn't really thought about it as being creepy. Perhaps. I've been using the updates as a method to keep track of my improvements, but I can see it's lack of relevancy to everyone else's day Point noted.

[Jon_Snow]

Lol! I was wondering when the proliferation of net worth threads was going to push Steve to the limit.