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I had anxiety calculating my net worth as the months got closer and closer to January 2016.  I was pretty frugal this year I think, didn’t buy much but did spend $5000 in travel and didn’t restrict myself in terms of eating out with friends.  Though I wasn’t splurging at $100 per person meals or anything.  And the verdict is…

So close yet so far!

I wanted to make sure I got every last penny and I even counted the cash in my wallet (I have more cash on hand than usual this month, and I was desperate to meet the target!) to no avail.

I’m off by $840 from my target goal of $385,000 that I set one year ago.  $840 could have been easily achieved if the markets fared better, if I sold a few things on craigslist or something before I calculated my net worth.  But I’ll take solace in knowing that I was so close, and pretty much almost there.  Including my pension contributions, my net worth is over $430,000 which I have met my target.  I have increased my net worth by a little over 10% compared to last year.

I think I will still reward myself (I think…maybe) for almost achieving this goal and get myself a road bike (but not a high end one because that will eat into my net worth goal for next year!).

Now the countdown starts again to meet a target of $420,000 net worth next year, or $450,000 if I include my pension contributions.

Okay, so here’s the breakdown for January 2016: $384,160 (+$3310)

In This Article:


CASH: $47,085 (+4.2%)

  • I have at least 6 months of living expenses and then some, so should start moving money into my investments regularly– I really need to start doing this, I have a lot of cash on hand.
  • I added up my chequing and savings accounts (High Interest Savings Account). I automatically deduct money from my chequing account and have it siphoned to the HISA account (paying yourself first)

Non-Registered: $87,200(-0.6%)

  • I still have a lot of cash in my non-registered account hence the poor performance
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $60,810 (+1.9%)

TFSA: $47,300(-3%)

HOME: $272,000

  • My plan is to live in this for 1-2 year and then rent it out once I find my prince charming (found him!)

CAR: $16,665

  • I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016 with the depreciated price


Credit Cards: $580

  • I only have one credit card right now with the goal of travel hacking my way to trips.
  • I use Mint.com account but I only added my credit card (this is helping a bunch so that I can keep track of my spending)
  • I’ve redeemed $220 for 2016 so far with my MBNA Rewards World Elite® Mastercard®
  • I pay off my full amount every month (and folks, it’s VERY important you do so otherwise you’re losing out on a 19% return!) but include it in my net worth update so I have an accurate picture of my actual net worth. I sort of think “If I were to sell everything right now, what would my net worth be?” I guess I shouldn’t put it in the liabilities column since i pay it off regularly, BUT in mint.com it’s under the liability column so I’ll do the same.

Mortgage: $146, 800 (-0.6%)

  • I pay an extra mortgage payment a month
  • My intent is to rent it out in a little while (see above). In order to offset future rental income, I chose to acquire a mortgage instead of paying for the majority of the condo.

Article comments

Maryanne says:

I am considering a TD Eseries account. I noticed in your post that you have pre-auth contributions. Do you have to pay a fee for every contribution?

Kyle says:

No, definitely not MaryAnne. This is a major advantage of the eSeries.

Leigh says:

I’d call that a win for you, but I know you’re hard on yourself to meet your goals just like I am 😉 Happy new year, Young!

Well done Young! Great cash buffer…you can plow some money into the markets.

Young says:

@MOA- Thanks Mark! Ooh wee yes indeed will be doing that!

Jason says:

Just out of curiosity.. what is your yearly salary ?
What is your saving percentage per month (on average)?


Young says:

@Jason- It is under 100K but prefer not to disclose more than that 🙂

Catwoman73 says:

Hi! New reader here… just curious why you don’t include your DB pension plan contributions in your calculation? I certainly include the commuted value of my pension in mine! That is a significant amount of savings to exclude. Thanks!

Young says:

@CW73- Yes, you’re right, I’m not sure why I don’t! I think it gives me a ‘back up’ in case I feel crappy that I can’t achieve my original goal, so if I were to use that as my main goal and fail I would feel pretty bad about myself lol.