Not too bad considering I was out of the country for two weeks! Sometimes being out of the country is better though as I tend to spend less when I am traveling (depending on where I am traveling to of course!). This month I had the auto insurance payment to contend with and also had a double whammy with the depreciation adjustment of my car for July 2016 (updated annually).
I was out of the country with crappy Internet with the Brexit panic otherwise I would have bought more. By the time I had access to Internet the prices rebounded.
My goal for the end of 2016 as one of my personal finance resolutions is to reach $420,000 in net worth. Now I just have $13,000 towards my goal of $420,000 by the end of the year. With six more months to go (I go from January 2016 to January 2017), I am on track, I think. That’s a little over $2500 per month. My long term goal is to have a net worth of one millllllion dollars by the time I reach 40. We will see how that goes…with kids hopefully in the forecast, this plan might get derailed, but you never know!
Okay, so here’s the breakdown for July 2016: $406,580 (+$4410)
CASH: $38,620 (+7.5%)
- 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: $81,500 (-0.2%)
- Down a few hundred dollars this month
- I still have a lot of cash in my non-registered account hence the poor performance
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $61,650 (-0.6%)
- This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and a Questrade RRSP account.
I max out both my TFSA and RRSP (read my TFSA vs RRSP great debate over here)
- I’m not including my defined benefit pension contributions which is >$35,000
- I paid back the Home Buyers Plan for my down payment in 2013.
TFSA: $58, 570 (+1.6%)
- Check out my dividend income spreadsheet updated quarterly!
- 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!
- I’m a little divided on what to do with my home now that I’m getting hitched soon. I’m pretty keen on selling it or just renting it out. Fiancee and I have discussed things and we are going to rent a two bedroom place for the next year or two.
CAR: $15,625 (-6%)
- I updated it for 2016-2017 with the Canadian Black Book price, will update it again in July 2017 with the depreciated price
Credit Cards: $245
- I signed up for the Chase Marriott Visa and also have an American Express Gold Rewards Card 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 $0 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: $121, 780 (-0.9%)
- I pay an extra mortgage payment a month
- 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.