SmartBoy's Net Worth for December 2007


Assets Value Change ($) Change (%)
Cash $3,272 ($1,488) (31.26%)
Stocks $0 - -
Bonds $0 - -
Annuities $0 - -
Retirement $20,359 $4,334 27.05%
Home $300,000 - -
Other Real Estate $0 - -
Cars $12,000 - -
Personal Property $2,000 - -
Other Assets $0 - -
$337,631 $2,846 0.85%
 
Debts Value Change ($) Change (%)
Home Mortgage(s) $38,457 ($3,740) (8.86%)
Other Mortgage(s) $0 - -
Student Loans $0 - -
Credit Cards $0 - -
Car Loans $3,067 ($511) (14.28%)
Other Debts $0 - -
Total Debts $41,524 ($4,251) (9.29%)
Net Worth $296,107 $7,097 2.46%
*All values shown in CAD ($)
Notes:
Numbers are again slightly skewed with one-time "gift" contribution to RRSP. Goals for the new year are twofold: paying off the car and mortgage to become entirely debt-free, and maxing out my RRSP contribution for 2008 as well so that I have over $35K in my retirement portfolio by year's end. The car is scheduled to be paid off by July, and my goal is to pay the mortgage off entirely by the end of August, when my current mortgage expires. Based on these two goals, I will target for a net worth increase to $355K by year's end, or a 19.9% increase.

Hence, to summarize key financial resolutions for the new year:

(1). Pay off car and mortgage loans and become debt-free by September.
(2). Have over $35K in retirement portfolio by year's end.
(3). Achieve net worth of $355K (or 19.8% increase) by year's end.
(4). Revel in having no cash flow concerns as debt will be all paid off!

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