$140, 936 (+1.2%)
Let see, what happened this month? Since its January, we have probably mostly survived the aftermath of Christmas shopping (total spent about $400 on gifts) and Boxing Day shopping (I spent $70 on some boots and went to the States on New Year's Day for some “After Christmas Sales”- bought some great work wedges at Aldo for $38).
Retire by 40 suggested I talk about my total 2011 increase in net worth (which is a fantastic idea). Looking at my old posts, I have increased my net worth this year by $14, 961, which is about a 11.8% increase from January 2011. Ideally, I would have liked to have saved more than $20,000 but I guess I can shoot for this target when I finish school.
Okay, so here’s the breakdown for this month:
CASH: $11615 (-5.2%)
Boyfriend and I have a joint account which our mortgage is deducted from, and our own personal accounts. I taught him the magic of the email transfer, so hopefully it won't be so much effort to nag him to put money into our joint account!
- 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 have $2600 saved up for my goal of climbing Mt Kilimanjaro (highest peak in Africa). I'm automatically deducting $100 a month from my bank account into this travel account. I'm about halfway there. Here's my shameless plug: If you are Canadian and want to help contribute, feel free to sign up for an Tangerine with my orange key: 33530953S1. You’ll get $25 if you start an account with $100, and I will get $25 too.
STOCKS: $9798 (-26.5%)
- The BCE (Bell) holdings I have are doing nicely (pretty much the only thing doing nicely!) and up 39%. Tempted to sell for profit but will hold on for the dividends.
- I moved my FTS.TO shares in-kind to my TFSA account (and that's why you see the huge dip). I have 100 shares in FTS.TO worth about $3300 or so.
- These are stocks that capture 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
RRSP: $11,998 (-0.01%)
- This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and my new Questrade RRSP account.
I've maxed out my RRSP for 2011. I am seriously thinking about maxing out my TFSA instead, if I am not able to max out on both (read my TFSA vs RRSP great debate over here) from now on, as I will expect to have defined benefit pension when I retire.
- I'm not including my defined benefit pension (I didn't do this for my 2011 net worth updates at all purely due to laziness). Contemplating about whether I should put them back into my networth calculations- what do you think?
- I owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I am paying it back by $200 a month. I should probably step it up since at this rate it will take me 6.5 years to pay myself back into my retirement fund!
OTHER INVESTMENTS: $2700
- 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 were 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.
- I have to contact the mutual fund dragon lady to take this money out.
TFSA: $16732 (+48%)
- I moved FTS.TO into my TFSA to max out my contribution room for 2011. I also put in some money into the TFSA to buy HSE.TO. I was lusty for Husky and bought it a few days ago. It has an annual yield of 4.8% (how can I say no to that dividend??)
- Watch out for TFSA over contributions, guys, the CRA will get you for every last penny.
- I have yet to see a “dripped” EIF stock in my account (hello, Questrade if you are reading, where is it?). It has climbed back up nicely though from its low. I will do a post on DRIPs soon, I promise!
- I signed up for a Tax Free Trading Account with Questrade in 2009 and haven't looked back!
- I am not counting this in my net worth, because it’s 11 years old.
- I got a flat tire on Christmas day (I got the gift that keeps on giving) and had to get a new winter tire for $60 (thankfully they were still covered on warranty)
PRINCIPLE RESIDENCE: $387,500 (0.0%)
- I know this it does not make any sense to divide the principle residence and mortgage debt by 50%, but since I cannot disclose my boyfriend’s financial information, I will do it this way to simplify things. Some of you may not agree to that, and I understand.
- Vancouver is an expensive city to live in, and many people predict that there will be a housing collapse, especially in a place where their is such a disparity between income and housing price. The Vancouver market was actually quite unscathed compared to the depressed housing markets elsewhere, and many people believe it is sorely due for a correction.
- Just got our Assessment letter in the mail, and I have concluded that Vancouver wants to collect their taxes to pay for the Riots and the Olympics. They say my principle residence is worth about $137,000 more than what I bought it fore but I'm going to denounce it as hogwash.
Mortgage Debt: $297910 (-0.32%)
- It’s an accelerated bi-weekly payment (-4 years from amortization)
- We got tenants for our basement suite. Wahoo! BF and I had a long discussion (well heated discussion lol) about paying off our mortgage faster. We have agreed to pay an extra $100 per payment (hence the extra 0.02% HA). I know it's not much, but it's a start.
Credit Card: $1499
- 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.
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