It seems to me that is not how most homeowners would see it. Mh real estate investments Rick knows why the book is called that. 76 Monte Carlo on cement blocks. I talk about my Rule of 90.
July, what else do you have to do? First, don’t believe what the pointy heads in Ottawa tell you. Realtors rejoiced upon hearing the news. Proof, they cried, that people are not overextended!
More meaningful is the chasm now opening up between the wealthy and the rest. Well, how do you stack up? Net worth is the number that’s left after you subtract all liabilities from your total assets. 175,000 for a sailboat, but also for charting a path to financial security.
And yes, Rick, whatever your house is worth, and what it’s mortgaged for, are key elements in this discovery. Then add in financial assets: cash on hand or in the orange guy’s shorts. RRSPs and tax-free savings accounts, per your current statements. Pathetic GICs and dead-end cash in your chequing account.
Now, deduct from this total what you owe. Then the car loan, an outstanding line of credit or HELOC. Money the CRA is up your butt about. The difference is your net worth. 1,100 and we’ll assume you wandered into this blog looking for a bathroom. So tell us where you stand. Not if they’re 26 years old.
And what are the odds of that? Percentage caught up in real estate: zero. I enter present values, and tracks everything. This is your time to shine.
I used to be compliant with the rule of 90, but the value of the house has spiked recently. I don’t really have any expectations on the equity on it, we intend to live there for a long time. He say’s he will look after me in my old age. How do I account for this in my retirement planning? 300K is RE, and none is debt or pension. Even the investment accounts have capital gains tax payable on them. Not including the DB pension plan, since who knows?