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Thank goodness that the stock market rallied a bit compared to the drop in September.  I made a lot of changes to my portfolio this month.  Bough HSE.TO (I couldn’t resist as it went down to $18.00, I just bought another 50 shares), sold COS.TO, sold XDV.TO, sold CPD.TO, sold XTR.TO in my TFSA.  It’s been a slow process but I have been streamlining the portfolio to just include the ETFs that I had in my portfolio makeover plan.

As some of you following may know, my goal is to have a net worth of $385,000 by January 2016 net worth update or $400,000 including my pension. I am over the $400K net worth with my pension contributions and and have $6500 to go if I do not include my pension.  It would mean increasing my net worth by $38,175 for the year.

Initially I was planning to treat myself to a new computer by my lovely boyfriend gave me one as a gift.  So now I think my new reward will be a road bike, if I meet my net worth goal.

I have 60 more days.  If the markets don’t plunge and cooperate, I might be able to make the goal.  Here’s hoping!

Okay, so here’s the breakdown for November 2015: $378,500 (+2.4%, +$8800)

In This Article:


CASH: $41, 570 (+2.5%)

Net Worth Update

  • I have at least 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: $89,060 (+2.8%)

  • My greedy self got the best of me when I wanted the preferred shares for monthly income rather than focusing on growth
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $58,860 (+4.0%)

TFSA: $49,500 (+2.9 %)

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 (found him!)

CAR: $16,665

  • I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016 with the depreciated price


Credit Cards: $290

  • 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: $148, 800 (-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.

Article comments

Leigh says:

Congrats on finding your Prince Charming! 😉 I’ve been increasing my cash savings lately since I have very little non-retirement investments and want a bit more buffer for life things. If I turn out to be crazy, I’ll just throw the extra at the mortgage I guess!

I wouldn’t worry too much about socking too much away in your RRSP yet…but definitely keep an eye out on that. That’s something I’m starting to wonder on, but my employer match and the tax savings are so good that I’ll keep maxing my 401(k) out anyway. Worst case, I could switch my contributions to Roth (after taxes) in the future or convert my pretax money in years of low income.

Young says:

@Leigh- Thanks Leigh! I highly doubt you have anything to worry about lol! You are in excellent shape!

Rob says:

Only one comment. You may know this already but others may not. Be very careful how much money you sock away in RRSP as it can come back and bite you. Pat Foran calls this the “RRSP trap” in his book Smart Canadians guide to saving money. It sounds like you will have a good defined benefit pension, will own at least one rental property and have RRSP. If you have too much in your RRSP when you are forced to convert to a RRIF, you will be pushed into a high marginal tax bracket. You will end up just handing back money in income tax and also likely lose part of (or all of) your OAS. My mother is a former teacher and this is exactly what has happened to her! I personally stopped contributions to RRSP in favor of TFSA. RRSP is, in my opinion, a hidden scam by the government to ensure they get their hands on your money!

Young says:

@Rob- Thanks Rob! I’ve had similar comments in the past and I agree. My future might not be the traditional work full-time until age 55 (or until I get full DBP). I might go part-time, might retire earlier than age 55, etc. in which I will withdraw money out of the RRSP when income is low.

Mark says:

Isn’t it tempting to take some of your emergency fund and put it toward the mortgage or perhaps some cheap apple shares. My take is sure, keep a few months expenses powder dry in cash, but if you pay EI premiums, pay disability insurance, and pay health insurance you should be okay!

Young says:

@Mark- Yes definitely! My emergency fund is a little overinflated (a little, is an understatement I suppose). Waiting until 2016 rolls around then I can contribute more to the TFSA and RRSP and do another big mortgage pay down 🙂