Farmland prices still on the rise
A new report from Farm Credit Canada indicates that local land values around my farmland have grown by 2% last year. So in this fiscal update I will be increasing the value of my farmland by 2%. This will add $9,000 to my net worth. Cool beans! 😀
Farmland across the rest of the country actually performed much better. The national price rose 8.4% last year, which is higher than the 7.9% growth in 2016.
Overall, my wealth has grown by $15,900 for the month of April, mostly thanks to higher farmland prices in Saskatchewan. So far this year my net worth is up $44,800 because from January to April I’ve had a string of good luck with my finances. But the rest of the year could be different. The popular saying, “Sell in May and go away,” could very well be true this year.
Liquid’s Financial Update
*Total Income: = $5,900
- Old Amazon job = $300
- New full time job = $1,200
- Ongoing part time job = $500
- Sold cryptocurrencies = $1800
- Freelance = $500
- Dividends = $1000
- Interest = $600
- Food = $500
- Housing = $1100
- Utilities = $100
- Miscellaneous = $700
- Additional Debt Interest = $900
*Net Worth: (ΔMoM)
- Assets: = $1,186,600 total (+12,500)
- Cash = $7,700 (+1100)
- Canadian stocks = $170,200 (+1900)
- U.S. stocks = $113,800 (-500)
- U.K. stocks = $22,000 (+600)
- Retirement = $89,100 (-200)
- Mortgage Funds = $32,500 (+300)
- P2P Lending = $31,300 (+300)
- Home = $275,000
- Farms = $445,000 (+9000)
- Debts: = $444,200 total (-3,400)
- Mortgage = $179,000 (-400)
- Farm Loans = $183,900 (-400)
- Margin Loans = $52,000 (-1100)
- TD Line of Credit = $4,000 (-100)
- CIBC Line of Credit = $10,500 (-1500)
- HELOC = $14,800 (+100)
*Total Net Worth = $742,400 (+$15,900 / +2.2%)
All numbers above are in $CDN.
I’m in the middle of switching banks to renew my mortgage. I’m currently paying over 3% for my mortgage. I think I can get it down to below 2.75%. This would allow me to save thousands of dollars over time. Fingers crossed. 🙂
Random Useless Fact:
I feel like I’m the only one who haven’t seen Infinity War yet.
Have u put the farm to test to see if there is any potential interest?
I’d feel better that way if I held alternative investments not as liquid
I haven’t tested the potential demand yet. That’s something on my list to do this year. 🙂
Congrats! It seems like you got a new job after Amazon.
Now you could easily pay-off you debts using your Farmlands. It could be a good option in uncertain times.
Your well-diversified assets help you to post positive gains months-after-months.
And, good luck with your mortgage renewal. I have 1.5 years to go..
I did get a new job. I’m making more than twice as much as I was working at Amazon so I think it was a big step in the right direction. 🙂 I can’t compare them directly since they’re in different fields of work, but I like my current job more.
Good luck on getting the mortgage rate down to a more competitive rate. It will make a big difference!
Thanks. I’ve managed to shave off almost half a percentage off my current mortgage rate. It should save me thousands of dollars over the next few years. 🙂