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Oh boy, I think this is probably one of the few times that I’ve actually had a $10K net worth increase in one month!

Feels good, I must say!  This month we’ve been busy wedding planning and enjoying summer.  Went camping twice in July so it has been busy (might feel okay to splurge on some more camping equipment, like an air mattress or a new camp stove).  My year to date performance so far in my portfolio is looking much better thanks to this month, it’s at a little over 5%.  My dividends paid in July were measly, under $200, but better than nothing.

I also bought a bike!  A cyclocross bike (I saved up around $700 by selling things around the home, such as my old bike, and used up some of my MBNA Cash back points for it).  Delayed gratification at its finest.  I haven’t taken it out for a spin yet as need to get lights for the bike but hope to soon.

My goal for the end of 2016 as one of my personal finance resolutions is to reach $420,000 in net worth.  Now I just have $3250 towards my goal of $420,000 by the end of the year.  With five more months to go (I go from January 2016 to January 2017), I am on track (thanks to this stellar month).  My long term goal is to have a net worth of one millllllion dollars by the time I reach 40.  We will see how that goes…with kids hopefully in the forecast, this plan might get derailed, but you never know!

Okay, so here’s the breakdown for Aug 2016: $416,750 (+$10,200)

In This Article:


CASH: $43,920 (+13.7%)

  • Once I deplete the cash in my non-registered account (yes, there is more cash in there) I will start moving this cash into investing accounts.  It is nice to keep it here for an emergency fund anyway.
  • 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: $83,300 (+2.2%)

  • Up!  Yeahhhhhh
  • 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.

RRSP: $64,350 (+4.3%)

TFSA: $59,400 (+1.4%)

HOME: $272,000

  • I’m a little divided on what to do with my home now that I’m getting hitched soon.  I’m pretty keen on selling it or just renting it out.

CAR: $15,625

  • I updated it for 2016-2017 with the Canadian Black Book price, will update it again in July 2017 with the depreciated price


Credit Cards: $985

  • 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 $250 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: $120, 850 (-0.8%)

  • 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.

Article comments


Well done. Keep up the good work.

Commenting on the point above. Net Worth is really a value assessment banks need when you borrow as they want your assets. In such case RESP should be part of your net worth since you do have access to it.

For retirement perspective, I believe it should be only investment accounts without the home and RESP. That gives you a true representation of how you are doing towards retirement.

You always need a home so counting on the growing value can be very misleading.

Dave says:

Great site and appreciate all your information. Question- Would you count RESP investments into your personal wealth…

Young says:

@Dave- Good question… I don’t think I would.

Jeff says:

Great blog thanks for being so open with your finances.

Do you keep the value of your “Home” at cost or market value? and what is your reasons for doing it that way?

Young says:

@Jeff- Good question! It’s pretty much at cost. I keep it that way because in the past readers have commented on how it’s not an accurate reflection and how I am over inflating my net worth if I choose market value. It does make me feel better when I look at it at market value though haha. The municipal assessment can be used but sometimes that’s not even accurate or reflective of market value too. So to keep it simple I just keep it at cost.