FI3000

The goal is a retirement portfolio net worth of $1,000,000 and an annual passive income of $40,000. We are currently mortgage free but won’t be including the value of our principal residence or cottage as we have no plans to sell either. We have also omitted the value of our workplace defined benefit pension plans and our children’s RESP Well December was a rough month for almost everyone who's invested in the stock market. One of our vehicles also died so we bit the bullet and forked out for a new one. I had the majority of the vehicle money in a saving account however, I still had to borrow about $9,000 from one of our credit lines to cover the full purchase price. I also transferred some money from our retirement account into our children's Education Saving account (which isn't included in our retirement numbers). Although we had a paper loss of about $30,000 (approx 6.5%) this month it's important to step back and realize that the S&P lost around 8%. I'v

The goal is a retirement portfolio net worth of $1,000,000 and an annual passive income of $40,000. We are currently mortgage free but won’t be including the value of our principal residence or cottage as we have no plans to sell either. We have also omitted the value of our workplace defined benefit pension plans and our children’s RESPs. Well November was a big month for us. We bought our first multi-unit building for $230,000 this was the single biggest purchase we have ever made but I'm hoping it'll pay off in the future. The building is in great shape and when fully tenanted shows a healthy 8.9% cap rate. Since I was able to borrow the whole amount it seems like a great way to leverage our retirement account but still hold a tangible asset (while writing off the interest). Of course no rental unit is completely passive as there's inevitably going to be issues whether they be building repairs, vacancies, snow removal etc... In an ideal world I would rather buy a bas