August 2015 Net Worth Update: $371,690

Phew, positive again.  I knew I was saving a lot this month but I didn’t know that it would surpass the loss I was having in my investment portfolio.  My RRSP did well this month but mainly because of the currency exchange I figure.

I am planning to go to Portland in August, hopefully I won’t go crazy shopping there.  August is my non-shopping ban month.  I did pretty good last month, I think.

As some of you following may know, my goal is to have a net worth of $385,000 by 2016 or $400,000 including my pension. I am over the $400K net worth with my pension contributions and and have under $13,300 to go if I do not include my pension.

If I reach my net worth goal, I am going to treat myself to a new computer/ laptop, since my laptop is circa 2009.

Okay, so here’s the breakdown for August 2015 (+$5940, +1.62%)

ASSETS:

CASH: $35,630 (+18%)

• I think I have about 6 months of living expenses and then some, so should start moving money into my investments regularly
• 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: $91,650 (-2.0%)

•  I sold a quarter of my ZPR but am still down quite a bit.  Meh, preferred shares.
• These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $58, 230 (+2.8%)

• 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: $50,400 (-0.8 %)

• I think I just dripped another HSE share but didn’t end up buying more.  I am seeing a lot of red in my TFSA but still holding strong.
• 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!

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 (haha…right?)

CAR: $16,665

• I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016
• I bought a car (so painful to part with money but am really enjoying the fuel economy and hatchback-ness)

LIABILITIES:

Credit Cards: $825

• 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 $220 for 2016 so far with my MBNA Rewards World Elite® 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: $152,100 (-0.7%)

• 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.