youngandthrifty Net Worth Update: October 2010

Net Worth: October 2010

$122998 (+ 4.9%)

Eep! So happy the markets were doing so well lately- bring back the bull markets, baby!  I am happy to report that I have a net worth (not calculating my pension) of over $100,000! I made it.  I remember 10 months ago, my net worth was only $79K, now I made it to $105,000 without adding the pension.  So up $5K this month primarily due to the way Mr. Market feels this month.  Happy dance happy dance…

Anyways, enough gloating.

I have been really happy with the way my Questrade TFSA is performing with a 29% increase in 9 months…this sure beats a lowly 2% interest you would get with traditional high interest tax free savings accounts. Huzzah!

If you’re interested in opening up a Questrade account, they have a promotion going on to win a $5000 stock trader course provided by the Online Trading Academy (an affiliate of Questrade).. and if you’re NOT in Vancouver or Toronto, they’ll pay you up to $2000 airfare to fly your butt over to Vancouver and Toronto (can you say sweet deal or what?).  A few months ago, I went to one of their free trading seminars (lunch included- sweeeet!) here in Vancouver and thought some of the trading techniques they taught were pretty good.  You can check out my review of the Online Trading Academy here.  If you’re in Vancouver or Toronto, you can sign up for one of the free seminars (did I mention free lunch??) by clicking on the purple box to the right of the screen.

Okay, so here’s the breakdown:

More money Pictures, Images and Photos

ASSETS:

CASH: $36793(+7.3%)

STOCKS: $23360 (+4.4%)

  • I didn’t do much buying and selling (at all really) just kept watching my fave dividend paying equities go up, up, up!  FTS.TO performed really well this month, and ECA.TO came back up as well.
  • 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 3% difference right now)

RRSP: $23849 (+5.5%)

  • This includes some emerging market mutual funds (BRIC), the monthly deduction from my HISA into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account and my new Questrade RRSP account.
  • I hope to max out the $25,000 and withdraw for my first home purchase with this amount saved with the RRSP home buyers plan
  • I funded my Questrade RRSP account with some cash.. and it’s still not fixed.  Don’t want to talk about it, it makes my blood boil.
  • I haven’t bought anything with the extra money I funded this year yet, but plan to get some bond ETF’s.
  • I still have $400 to contribute before the end of the year for my RRSP contributions which I plan to do after they find the $300 that I deposited first (insert eye roll).

PENSION: $17931 (+2.1%)

  • How I calculated it: I took my pension statement and added my monthly contributions from my pay cheque to reflect this month’s pension amount. I’m not including my employer’s contributions in my pension calculation.

OTHER: $10989 (+2.9%)

  • 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. Once I break even with one of the venture funds, I’m gonna get the heck out. Yuck! These other investments stick out like a sore thumb. =(

TFSA: $11676(+2.6%)

  • Principal protected through an HSBC fund investment (+6%) from inception (TFSA of 2009)
  • For my 2010 TFSA, I signed up for a Tax Free Trading Account with Questrade and I bought lots of income trusts and am having some yummy monthly distributions roll in until they incorporate the income trusts in 2011.
  • My 2010 TFSA is up over 29% ROI this year (including distributions)–awesome!

CAR:

  • I’m not going to bother counting the car as an asset. It’s 10 years old and I’m planning to drive it to the ground.
  • Speaking of being driven to the ground, apparently Honda Civics window rubber wears out easily (as evidenced by the fact that my window decided it didn’t want to close one day and I had to spend $70 fixing it and putting it back on the track)

LIABILITIES:
CREDIT CARD: $1600

  • 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…I’ve been getting used to the “Oh, sorry, we don’t take American Express”.

About

Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

21 Responses to youngandthrifty Net Worth Update: October 2010

  1. Congratulations on such a great month of net worth growth. It’s definitely nice to see the equities rising!

    I was just at Wendy’s for lunch today and again I was greeted with a chorus of “No, I’m sorry – we don’t take American Express.”

    • @SavingMentor- Yeah, is Wendy’s Canadian? I am surprised the fast food joints don’t accept AMEX. Most restaurants do. Do you have the same SPG card I do? =)

  2. Congrats! I actually find myself hoping that stocks do DOWN…

    I figure, I’m in the accumulation stage, it’s better if stocks go down and right before it’s time to retire, they go up exponentially on a VERY steep curve!….one can only dream..

    • @Tiny Potato- That sounds a bit idealistic lol =) Yeah, hopefully what happens to us is opposite of what happened to many of the baby boomers nearing retirement! =( It would be terrible to see your savings and investments be wiped out by 40% (but hopefully they employ the rules of decreasing your investments in equities as you get older).

  3. @youngandthrify

    Yes indeed, I do have the same credit card as you. I was also pitched the new Amex Gold Charge Card as I was meandering through the Edmonton airport today.

    They didn’t waste any time getting people on the street hawking the new card :) I declined because if I do sign up I want to see if I can get some cash back for it … but I guess the first year annual fee is free.

    • @Saving Mentor- Cool! We’re SPG AMEX buddies. I’m planning to switch to a no fee once the first year is up. Hopefully with this infiltration of AMEX, more stores will accept it!

  4. Congrats! Great work!

    Now you’re working towards the extra “0″ in NW right? :)

    Like TP, I too find myself hoping that stocks go DOWN…I want to buy cheap so I really don’t want to see stock prices rise…

    • Financial Cents- Yeah, I feel the same way sometimes too. Like Telus for example, it keeps on going up, up, up! And I sold it automatically while I was away, so I am sad, sad, sad.

    • @Evan- Hey Evan, you’ll be in the 100K club in no time mr. law degree! =) Then you’ll grow exponentially and I will still be in the 100K club. lol.

  5. This is so impressive a net value of more than 100k! Congradulation! The recent TSX gains had been a great help for me too. I am at 105k now in assets, but hold something like 40k in debt :) You rock

    • @Sunny- Thanks Sunny! I know you had recently posted some great gains with your portfolio too! I admire the way you hold most of it in dividend paying stocks.

    • @Khaleef @ KNS Financial- Thanks man! Hopefully the same goes for next month. Last September the markets rose the most since 1932! amazing eh?

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