Saturday, October 02, 2004

The Man Who Plans to Retire at 37 (MPR37) Reports Strong Quarter Results

MPR37 today reported that net earnings for the quarter ended September 30 has increased 55% at $7000 from $4500 compared to the previous quarter ended June 30, resulting primarily from better return on investments.

Wages were stable. Expenses has decreased 4.2% from $4707 to $4506 on lower insurance costs, lower television cost, lower electricity costs, lower credit costs and marginally higher condo tax.

Assets increased $5000 to $210,000 from $205,000 in the previous quarter. Liabilities amounted to $129,000, down $2000 from $131,000. Liabilities include $25,000 as provision for contingencies, up $500 from $24,500 in the previous quarter.

Net earnings for the three months ended September 30th 2004 were $7000. Total wealth (net assets) amounted to $81 000.

Stronger results from investments in the quarter compared to the previous quarter
Yield on stock investments were a healthy 11% (44% annualized) due to good market conditions and tight investment strategy. Total stock shares amount to $26,000. RRSP return were a non-annualized -0.9% on a nest egg of $33,000 during the quarter. Other investments include $20,000 cash in an INGDirect account yielding an annual 2.25%. This amount has been reduced to about $17,000 in order to increase investments in mutual funds, which sums to $15,000, yielding -3.2% during the quarter.

Next quarter previsions
The net earnings in this quarter are not likely to be sustainable, since a large part of it resulted from good one time investments returns.

In the next quarter, an increase in wages is expected. This increase is projected to be 3%. The mutual fund market are projected to give positive results in the next quarter, particularly after the American elections. Stocks are projected to yield 2% during the next quarter.

Risk assessment
There are some clouds ahead, but overall, the situation is quite under control. My wife could loose her job soon, since the organization she works for have financial problems. This could occur in the beginning of January. The effect of this would be noticeable in less than 12 months, after employment insurance expires. Such a job loss would imply much higher expenses. My job is also at risk, since the company I work for is loosing money. However, job loss is not likely for the next 6 months.

6 Comments:

Anonymous Anonymous said...

Love the "quarterly report" style of the post.

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Anonymous Anonymous said...

very funny. I second that

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