Well, I am starting off the new year going backwards haha! Let's hope that this trend of negative net worth updates does not continue and is short lived.
I had a lot of expenses and purchases in January (namely a trip!) and I had to break my shopping ban for the month by purchasing an iPhone charger (my was going on the fritz, I hate when the iPhone chargers do that) otherwise my phone would be dead. I also threw in a replacement of something that was broken (about $25) that really bothered me (it was my key/ envelope holder on my wall).
The market is still not doing very well of course, but I am continuing to abide by my investment contract by investing on a monthly basis. Meanwhile real estate in Vancouver especially for detached housing is getting to ridiculous levels. Ridiculous. Had I kept (or perhaps bought out my ex's portion) of the house and sold it without capital gains tax, I would be a millionaire by now haha. A millionaire in my early 30's mainly from real estate! Isn't that ridiculous?
Okay, so here’s the breakdown for February 2016: $383,060 (-$1100)
CASH: $50,320 (+6.9%)
- I have at least 6 months of living expenses and then some, so should start moving money into my investments regularly– I really need to start doing this, I have a lot of cash on hand.
- 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)
- I moved some money into my RRSP and my TFSA this month from the non-registered account
- 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: $59,560 (-2.1%)
- Despite adding some money into my RRSP, my RRSP is down this month!
- 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.
- Added $5500 from my non-registered.
- Canada took a hit and my TFSA is Canadian. Oil took a big hit and I have 350 shares of Husky in here
- 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 (found him!)
- I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016 with the depreciated price
Credit Cards: $530
- 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 $0 for 2016 so far with my MBNA World Points World 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: $145, 950 (-0.6%)
- 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.