I’m not sure where the gains were this months since the stock market sucked for me. The good news is I had a decent net worth increase this month (I was 99.9% sure it was going to be negative this month hence the procrastination) and I have made my secondary net worth goal!
My goal is to have a net worth of $385,000 by 2016 or $400,000 including my pension. I am just over $400K net worth with my pension contributions and and have under $26,000 to go if I do not include my pension.
Okay, so here’s the breakdown for April 2015 ($359, 300): +1% +$3680
CASH: $25,600 (+12%)
- I’m going to try and save up about 6 months living expenses in my emergency fund, and then funnel the rest into my mortgage or investing
- 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: $99,590 (-17%)
- As mentioned above, the CPD shares got sold
- I moved money out of the cash portion in my portfolio to pay off my mortgage
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $55, 500 (+1%)
- 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: $47,610 (+0.2 %)
- I maxed out my TFSA for 2015, I have about $5000 in cash, hmmm what should I buy?
- I bought some SNC-Lavalin and more REI.UN.TO and rebought ESI
- 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!
- My plan is to live in this for 1-2 year and then rent it out once I find my prince charming (haha…right?)
- I bought a car (so painful to part with money but am really enjoying the fuel economy and hatchback-ness)
- I will update it annually with the Canadian Black Book price in July 2015
- I used a conservative estimate of the car, no CBB price for 2014 models yet
Credit Cards: $1677
- I have a few credit cards 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 $650 last year with my MBNA World Points World mastercard.
- I’ve used my new Amex Aeroplan card twice so far.
- 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: $156, 400 (-22%)
- I paid down a chunky bit of my mortgage and will continue to do some extra monthly payments.
- 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.