It feels nice when the markets do so well, who says sell in May go away? (Well, I am just waiting for the summer dip because it usually does happen). Including my contributions towards my pension, I have over $450K, it will be nice to reach that halfway point. This month compared to last, my investment portfolio went up by over 2%. That’s more than it was year to date haha. This year until now has been in the dumps. I will have a huge credit card bill next month (have to pay my car insurance) so hopefully the net worth will still be looking as rosy as it did this month.
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 $17,800 towards my goal of $420,000 by the end of the year. With seven more months to go (I go from January 2016 to January 2017), I am on track, I think. That’s a little over $2500 per 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 June 2016: $402,170 (+$8300)
CASH: $35,900 (+7.8%)
- 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: $81,620 (+1.4%)
- 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: $62,000 (+2.7%)
- 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: $57,620 (+3.0%)
- My TFSA did GREAT this month! Go Canada go!
- 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 next update with the depreciated price
Credit Cards: $790
- 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: $122,800 (-0.9%)
- 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.