Mrs. CCC and I will be 30 years old this July, this is currently what our Net Worth looks like. We started saving Summer of 2010, so this is roughly 5 years of accumulation.
NET WORTH
$283,000
CCC Family
$ 4,000.00 2008 Nissan Altima (200,000km)
$ 6,000.00 2004 Toyota Camry (90,000km)
$ 7,500.00 RESP (Contributions)
$260,000.00 House
Mrs. CCC
$ 17,058.35 RSP
$ 26,138.87 TFSA
$ 2,107.01 RSP-S
$ 63,257.00 DBP/CV
CCC
$ 27,107.00 RSP
$ 26,070.93 TFSA
$ 2,320.49 RSP-S
$ 80,170.00 DBP/CV
Jr. CCC
$ 2,839.41 RESP (CESG + Interest)
ASSETS
$524,500
LIABILITY
$202,073.23 Mortgage
$ 39,500.00 20% Tax Liability (DBP/RSP)
I'm not sure what our overall goal is, both Mrs. CCC and I will be eligible for pensions at age 50 (CCC full pension, Mrs. CCC reduced pension), so that is our worst case scenario. Though I honestly want the freedom of financial independence no later than 43. Currently our standard of living is about $36-38,000/year so using the 4% interest rule, that would take about $925,000 + paid off house and cars, therefore no more than 1.25 million of today's dollars. Which would be easily attainable in the next 20 years even without compounding returns, hopefully compounding will be able to shave off 7 years (at least).
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