On June 1st (actually May 31st, I got excited and couldn’t wait until the next day 😉 ) I chugged through my financial figures to have a look at what my current networth is. The variables that I’m considering are:
The condo value is debatable (until I sell it, the value is somewhat unknown), but $143,500 is quite a conservative figure (similar units in the same building are selling in the $160’s). The loan is basically $5,000 that I lent to a friend (I know, I know, bad idea) that I’m hoping to get back in September. The stock portion is very volatile, so I’m not sure what the best way to include it is (I commented on this on “A Canadian and her money” and I think it annoyed her :-), but that’s the shares’ value as of June 1st.
This is a 9.29% gain ($7,096) over May, which is good but primarily comes from a lucrative contract I’m working right now (and suffering every day for, so I don’t think these gain rates are sustainable). This contract is paying around $6400 / month, and the rest came from getting my tax refund, a GIC coming due, some gains on the stocks I bought, etc (e.g. lucky circumstances, nothing I can repeat month-to-month). Additionally, there’ll be taxes to be paid on this next year (no withholding at source), so this is a before-taxes number (I’m expecting to be at around a 33% marginal tax rate next year).
Last months gain was around 7.82% ($5,539) which is probably closer to what I should expect.
My current estimate of my monthly expenses are around $2,140.00, which I’m trying to bring down, so my gross in May was somewhere around $9K).
I’m earning about $250 / month from my condo (I’ll post details on this later, but its around a 7.5% ROI), and an estimated $67 / month from the stocks and cash (assuming 4% return / year, I’m hopeful that the stocks will do significantly better then this). Therefore passive investments (before taxes) cover 14.8% of my monthly expenses. Given that my passive income was around $150 in December, this is an excellent gain (more than double the passive income in less than half a year).
I don’t really care too much about my assets vs. liabilities, so I won’t bother with that.