2016 was a stellar year, I must say (well not for the rest of the world I suppose, but it was for my portfolio)!

I increased my net worth by $68,330 from last year’s update and reached my annual goal of increase my net worth to $420,000, that’s a 17.8% increase from last year’s January 2016 update.  I surpassed my goal of increasing my net worth by $32,500.  If I include my pension contributions, my net worth is over $510,000, which means I am a half-a-millionaire!  If I include the home value according to my municipality assessments (which apparently went up by 24% over last year) I will be over $660,000, which brings me much closer to my $1,000,000 net worth goal which I hope to reach within 7 years.  It might actually be doable!

Hopefully this wonderful upswing will continue for 2017.

Okay, so here’s the breakdown for January 2017: $452,500 (+$13,670)

ASSETS:

January 2017 Net Worth Update
CASH: $61,700 (+10.9%)

  • Once I deplete the cash in my non-registered account (yes, there is more cash in there) I will start moving this cash into investing accounts.  It is nice to keep it here for an emergency fund anyway.
  • I added up my chequing and savings accounts (High Interest Savings Account). I automatically deduct money from my chequing account and have it siphoned to the HISA account (paying yourself first)

Non-Registered: $83,380(-3.7%)

  • It’s down this month because I transferred $5500 cash into my TFSA in the first few days of January
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $66,960 (+3.4%)

TFSA: $68,650 (+12%)

  • Increase is mainly from the $5500 cash injected into the TFSA account, but the TSX has done remarkably well this year (17%!)
  • It will be very exciting the day that my TFSA account reaches over $100,000.
  • One of my to do tasks is to track my dividend payments in an excel spreadsheet
  • Watch out for TFSA over contributions, guys, the CRA will get you for every last penny.
  • I signed up for a Tax Free Trading Account with Questrade in 2009 and haven’t looked back!

HOME: $272,000

  • This is the approximate purchase value
  • Am planning to rent it out in two years or sell it.  I think am leaning more towards selling it.
  • I don’t use the municipal assessed value, but if I did, my net worth would increase by $150,000!

CAR: $15,625 (0.0%)

  • I updated it for 2016-2017 with the Canadian Black Book price, will update it again in July 2017 with the depreciated price

LIABILITIES:

Credit Cards: -$640

  • I just have my MBNA World Points World master card right now as I cancelled the other cards… I’ll be looking for more cards again with the goal of travel hacking my way to trips.
  • I use Mint.com account but I only added my credit card (this is helping a bunch so that I can keep track of my spending)
  • I’ve redeemed $250 for 2016 so far with my MBNA World Points World mastercard
  • I pay off my full amount every month (and folks, it’s VERY important you do so otherwise you’re losing out on a 19% return!) but include it in my net worth update so I have an accurate picture of my actual net worth. I sort of think “If I were to sell everything right now, what would my net worth be?” I guess I shouldn’t put it in the liabilities column since i pay it off regularly, BUT in mint.com it’s under the liability column so I’ll do the same.

Mortgage: $115,180 (-1.2%)

  • I pay an extra mortgage payment a month
  • I usually put $20,000 annually on top of the extra mortgage payment per month but haven’t decided what I’m going to do this year, I will probably not put in $20,000 so I have more liquidity
  • My intent is to rent it out in a little while (see above). In order to offset future rental income, I chose to acquire a mortgage instead of paying for the majority of the condo, and would rather not put all my eggs in one basket (e.g. real estate).
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