Net Worth Update: October 2007

I will be posting my net worth updates every 14th or 15th of the month. A few things I wanted to get into before I start: I will not be listing my car as an asset because it’s depreciating with ever click on the odometer and will eventually need to be replaced for one that costs more money so thus I don’t consider it an asset. However, the car has no payments on it and is probably worth $10,000.

I thought about how to place a value on the house and since we had it for sale the last 8 months before taking it off the market  in September, I think the best way to set a value it is to go by the highest offer received minus real estate agent commissions.

So without further adieu here is the first Net Worth Update:

Assets: $839,218

  • Real Estate: $680,000 (1 Home)
  • Savings: $39,650
  • Cash: $500
  • Registered Retirement Savings Plan: $95,697
  • Stock Trading Account: $24,020 USD = $23,371 CAD

Liabilities: $437,050

  • Mortgage: $424,850
  • Line of Credit: $12,200

Total Net Worth: $402,168