2019-03 Networth

2018

Feb_2019

Mar_2019

M/M $

M/M %

YTD

Assets

Corporate Acct

3,847,322

3,972,870

4,062,794

89,924

2.3%

4.9%

RRSP

717,438

724,517

727,700

3,183

0.4%

2.0%

TFSA

113,366

135,030

137,005

1,975

1.5%

20.9%

Personal Acct

310,466

293,602

296,030

2,428

0.8%

2.1%

Commodities

44,776

44,776

44,776

0

0.0%

0.0%

Personal Residence

3,030,000

2,607,000

2,607,000

0

0.0%

0.0%

Property- Other

852,450

800,350

800,350

0

0.0%

0.0%

Property- Office

448,000

473,000

473,000

0

0.0%

0.0%

Total

9,363,818

9,051,145

9,148,655

97,510

1.1%

2.6%

Liabilities

0

0

0

0

0

0

Totals

9,363,818

9,051,145

9,148,655

97,510

1.1%

2.6%

It is that time of the month when I update my Networth. I track what I care about and this is a useful metric to see how we are progressing. All this tracking really amped up when I noticed that I had so many different bank accounts, investment accounts and corporate entities.

I needed an excel spreadsheet just to keep track of it all.

I have made significant headway in cleaning up the accounts. But my original excel format has proven to be very helpful.

Getting things back to simple takes a lot of work. That is probably why most people would rather ignore it.

The benefit of updating my balance sheet is the discipline needed to review all accounts on a monthly basis. It forces me to do this in a methodical manner.

Furthermore there is a lot of opinions and best practices. If you want information there is plenty out there. I would rather show my process. I have zero expertise in any particular arena.

I can show the repetitiveness of my routine. And how one can start to enjoy the simple process. My mantra is just keep tracking what you care about. That’s it.

I do not have any issue with displaying our networth since I plan to stay anonymous.

I can never speak of what is the best way for anyone else. I can only show what we are doing. If I am wrong, only my family shall bear the brunt of it.

The “Property- Other” is the house my parents currently live in. We leave our capital in the house for them to use.

Technically this should be a Balance Sheet with Income and Expenses as well as Assets and Liabilities.

But we have zero liabilities. I pay for my cars with cash. I rarely carry any debt that I personally pay for.

I even paid for my first house with cash. Plus we rented out our current home for almost a decade before we moved into it.

That was why it was such an easy investment for me to make. I distinctly recall thinking that even if the investment performed poorly, I would live there. And my husband wonders why it took me five minutes to make the offer on the house…

Homes are your largest expense. It will also be the anchor which impacts every other expense in your life. Choose wisely.

That is how my kids ended up being very grounded. I never had to lecture them about money. They grew up in a working class neighbourhood and they have seen how tough it is for some of their friends.

So I guess even in my own life, “tawk” is cheap. Just show them instead. There was zero harm with living in a working class neighbourhood. My kids have benefited from it.

That is why you will also see less investing how-tos. I always say finances is like dieting. Everyone knows what to do. The problem is that it is really hard to do the correct things.

Thus I will continue honing my plan to adhere to my principles of simplicity and ease. It is very important that this is all easy or else I would not stick with it.

There is minimal willpower with what I do. It is about following a process and that’s it. I enjoy the process. I enjoy a streamlined process even more.

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Published by Dr. MB

I enjoy the know-nothing, do-nothing approach to investing.

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4 Comments

  1. It’s inspiring to see someone a few years ahead achieve a state of flow where good habits are sustained in part because they become pleasurable, and results follow suit. Keep leading the way, Dr. MB.

    Fondly,

    CD

    1. Hey CD!

      You are an amazing writer. Since I am unable to do that I thought I would resort to numbers instead. Seriously eh?!

      Have a wonderful long weekend!!

  2. Hey Dr. MB,

    Thanks for sharing your net worth to us again.

    Solid net worth once again! You and your hubby have such a solid financial foundation. You should be proud of your accomplishments.

    What kind of commodities do you hold? I apologize if you’ve mentioned this in the past, but I am curious what this entails.

    Happy Easter Weekend!

    DN

    1. Happy Easter DN!

      Seriously all I will show here is the repetitive nature of my tracking. Haha if we could team up with someone like your partner and do the RE investments you have- I’d be all in.

      However the biggest lightbulb moment was that we likely can not do it as proficiently.

      My commodities were some bullions my husband bought. And I plan to sell these soon since I want to simplify even more. 😊

      He will not be happy when he finds out. Tee hee.

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