Net Worth: January 2011
$125975 (+ 2.7%)
I decided to omit the pension for 2011 onwards because it was kind of a hassle to take my information from my pay stub every two weeks and make sure I write it down somewhere. Also, I can’t access this money anyway (and don’t plan to until I retire) so I don’t want to be including it in my calculations. It made it look hyper-inflated, if you know what I mean.
Okay, so here’s the breakdown:
- No, I didn’t win the lottery (though someone who has been pronounced dead three times and won the $190 jackpot in the Mega Millions lottery did!), but I did cash out $7500 from my RRSP under the home buyer’s plan. This money will go toward some renovations on the house.
- 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)
- These are stocks that captures the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts. I added up USD and CAD stocks as “Canadian” money to be simplistic (which is about a 0% difference right now)
- In my TFSA, I bought some Just Energy shares (they are maintaining their distribution in a form of a devidend), I also bought some BMO stock when it had that 7% dip in one day
- I sold my Manulife Financial shares and bought BMO
- I also sold positions in Telus (I didn’t want to, but I had thought they weren’t going to approve my Home Buyers Plan withdrawal so I needed money… then after I sold everything I got a call to tell me the home buyers request went through!), XDV, and sold all my shares in TAC.
- I now have some cash that’s ready for some value investing But I might transfer that to my TFSA since it’s pretty much empty now.
RRSP: $8393 (-46%)
- I ransacked my RRSP some more to take out money for the renovations on the house (Quartz counter top and new flooring, anyone?)
- This includes the monthly contribution into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account and my new Questrade RRSP account.
OTHER INVESTMENTS: $3459 (+7.3%)
- If you’re wondering what I hold in my Other investments- check out my post long story
- I have some investments that were poor choices (I signed up for them before I became self “edumacated”) that are losing money big time. In order to receive a tax credit, I got persuaded into buying some flow through shares, Venture investments that gave out a tax credit, and some more mutual funds about four or five years ago.
- These guys haven’t been moving much, unlike the rest of the market. I have broken even this month, but can’t take it out until 2012. Once I hit January 1, 2012 I’m going to take my money back and run
TFSA: $592 (-90.3%)
- I took my money out from my HSBC TFSA (with net $500+) and closed the account- needed money for the house renovations
- For my 2010 TFSA, I signed up for a Tax Free Trading Account with Questrade
- I sold most of my TFSA income trusts (all but two- which are being converted) and kept about $500 in the TFSA account as Questrade requires you to have a minimum of $200 in the account.
- I plan to put $15000 back in (slowly throughout the year, of course… or I might move my non-registered investments into the TFSA) to avoid the penalty from our good friends at the Canada Revenue Agency.
- I’m not going to bother counting the car as an asset. It’s 10 11 years old and I’m planning to drive it to the ground.
PRINCIPLE RESIDENCE: $387,500
- There’s no way I can buy a house for $387,500 in Vancouver. So I divided price the house in two to simplify my net worth calculation. BF and I each are paying 50% of the costs of the house to make in nice and even in case we split up. Besides, BF would not want me to be disclosing his net worth with the rest of the world, either.
- We got the BC Assessment in the mail and the value of our home has gone up by $96,100 apparently. However, this was calculated last year in July 2010 and the market was certainly very different then. Traditionally, market value is usually 10%+ BC assessment value in Vancouver, but I doubt that is the case now. I’ve decided not to include this and will just use the amount we paid for it +/- inflation.
Mortgage Debt: $308,773 (-0.3%)
- Before anyone goes ballistic on me for taking on such a large mortgage debt (which I know you might anyway! ) we are planning to rent the out the basement out after the renovations to help with the mortgage. This will be on top of the full amount that we pay accelerated biweekly and this will help tackle the beastly amount.
- The street we bought the house on has a lot of new houses being built (a good sign, of course), and a comparable house on the same street (older, but with three stories and with minor renovations) sold for over $1,000,000.
- I’m excited to tackle this mortgage beast and pay down my debt- might be a new focus on youngandthrifty.ca!
Credit Card: $2050
- 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 basically charge everything to my card to reap the benefits (free flights and hotel stays here I come!)
- I got the SPG AMEX card for a few months already and have been using it as often as I can (compared to the MBNA travel elite card) but American Express isn’t accepted everywhere here in Canada…which is a hassle.
- BF and I got the Royal Bank Avion Infinite Card as our joint credit card (free for one year since we have a mortgage with RBC! So will be using it and letting you how I like it- I would of course not pay $170 a year for this, but since it’s free for one year, why not?)
- This month was pretty expensive- we bought some stainless steel appliances (during boxing day week).