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I must admit when I do my NW updates I get a bit anxious these days since I set that goal for myself.

Just to recap, my goal for the end of the year was to break a net worth of $350,000.  I have just shy of $7000 to go before the end of the year, and perhaps this is achievable (just barely), provided the markets continue to be stable.  If I used my pension contributions, I have met my target of $380,000 net worth if I include my pension contributions.

This month’s update is not too bad considering I spent a lot of money on my trip and was away the entire month.

Okay, so here’s the breakdown for November 2014 ($343,130): +0.9% +$3300

In This Article:


CASH: $38180(-4.5%)

Non-Registered: $105600 (+0.7%)

  • I bought a few stocks this month/ added some positions and two stocks got automatically sold due to my stop limit orders
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $49290 (+5.1%)

  • My RRSP portfolio had a healthy gain this month, primarily from the TD eseries accounts
  • 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 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 contributions which is >$35,000
  • I paid back the Home Buyers Plan for my down payment in 2013.

TFSA: $41,660 (+1.0 %)

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 (haha…right?)

CAR: $17,000

  • I bought a car (so painful to part with money but am really enjoying the fuel economy and hatchback-ness)
  • I will update it annually with the Canadian Black Book price in July 2015
  • I used a conservative estimate of the car, no CBB price for 2014 models yet


Credit Cards: $475

  • I applied for the CIBC Infinite Visa Aeroplan card and in the goal of travel hacking my way to trips and have been using it for a few months.
  • The problem with not having Mint.com is that I can’t see my credit card spending as easily so I ended up resorting back to the 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 $650 already this year with my MBNA Rewards World Elite® Mastercard®
  • I’ve used my new Amex Aeroplan card twice so far.
  • 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: $180, 075 (-0.3%)

  • 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.
  • This month, I made my first “double up payment” on my mortgage.  It was very easy to set up and there was minimal follow up.

Article comments

Jonny says:

Here’s hoping you can reach that $350k mark!
I set a goal for my net worth as well this year (you can check that out here – http://www.thewealthbrickroad.com/category/money-and-wealth-progress-reports). I’m on pace to hit that mark, but there’s always the chance the markets could take another dip by year end, which is totally out of my control. For me, so long as I’m hitting my contribution and savings rate targets I’m happy.
I’m also curious as to why you have such fat stacks in your bank accounts.

Young says:

@Jonny- Thanks Jonny! Looks like you are doing great for yourself too!

You should be happy your investments are in the black. My investments are down this month (although I didn’t make any new contributions). I’m a long-term investors, so it doesn’t keep me up at night (although losing 50% of my portfolio to a correction might!)

Agreed with the cash, missed a big run up with it and it’s a loser to inflation. This you know. In the end, do what you feel is best!

Phil says:

Young, I don’t want to knock what you are doing, but being up ~6% year to date for your net worth is lagging in my opinion. I apologize for my abruptness, but you could/should be doing much better. I suggest more focus to having your money work more efficiently for you. Time is a commodity we never get back. – Cheers

Young says:

@Phil- No totally agree! I did spend the equivalent of approx $13K in travel this year hahaha. But yeah, I should be doing much better! I calculated the measly 6% increase from last year and was frankly disappointed in myself. I will work on it for next year. 🙂

Vikas says:

You should look into using YNAB instead of mint.com. It is more manual but once you get used to it, it makes things easier and you aren’t giving up your password to mint.

Nelson says:

Y&T, why do you have so much cash? That’s 25% of your portfolio (excluding RE) just sitting there earning 1.2% interest. If you stick it in XBB (WHOOO ETFs. Am I doing this right guys?) you’ll get a 3.15% yield. That extra 2% a year is $760.

I’ve read the blog long enough to know the net worth posts are basically a template, but it’s interesting how the cash back from your credit card merits a mention, but the missed opportunity of having too much cash on hand doesn’t. I’d say it’s because we’re more inclined to focus on the “reward” of points, rather than the penalty of missed interest. You catch more bees with honey, as they say.

Kyle says:

“You catch more bees with honey”???!!!! Clearly your world travels have softened you Nelson. Where is the man we new and loved, the man for whom the label “politically correct” was the worst insult you could hurl his way? Are you spending time with Buddhist monks over there? Nice ETF mention, that get you two contest entries on the next thing we give away (which will probably be a book you already read).

I’ll let “Young” defend her cash position for herself.

Matt says:

Holding cash is perfectly acceptable, and it’s actually less than 12% of her portfolio. Bonds are a much higher risk, especially in a low-rate market.

If she plans to use that money for anything specific in the next year or two, protecting that cash is important.

Young says:

@Nelson- Yeah as usual you are right. I’m not sure why I hold so much cash. I think it was because I wanted to buy a car. Then that was done but I still have cash saved up.

Yes, the reward of points is so much more attractive than the penalty of missed interest. I guess I was worried about the risk, whereas with credit card points there is no risk (for me anyway). I will get on it. Ai ai captain!!