Just up $2800.  Ideally it would be over the $3000 mark, but that’s okay.  It’s a bit slower than anticipated, but at least it is in the positive territory, I will tell myself that 🙂

The big thing this month is me paying the annual pre-payment towards my mortgage.  It was a nice feeling especially since I had all this cash sitting there just doing nothing except not keeping up with inflation.

The other big thing that happened this month was flying down to see Warren Buffett and Charlie Munger for the Berkshire Hathaway Annual General Meeting.  It was amazing.

My goal for the end of 2016 as one of my personal finance resolutions is to reach $420,000 in net worth. Hopefully I will be able to make it!  At this rate it’s not looking too good, and I think I need to try harder.

Okay, so here’s the breakdown for May 2016: $393,900 (+$2800)

ASSETS:

CASH: $52,715 (-37%)

  • I made my annual pre-payment towards my mortgage.  I was contemplating whether or not to do this, and just went ahead and did it.
  • I have at least 6 months of living expenses and then some, so should start moving money into my investments regularly– I really need to start doing this, I have a lot of cash on hand.
  • 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: $80,470 (+0.0%)

  • 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.Net Worth Update

RRSP: $60,320 (+0.0%)

TFSA: $55,940 (+1.0%)

HOME: $272,000

  • My plan is to live in this for 1-2 year and then rent it out once I find my prince charming (found him!)

CAR: $16,665

  • I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016 with the depreciated price

LIABILITIES:

Credit Cards: $953

  • 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: $123,900 (-14%)

  • This month I paid the annual pre-payment amount.
  • 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.
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