$133, 736 (+0.8%)
I have NO idea how it managed to squeak out in the positive territory this month since the markets haven’t really improved much. Well, I’m not complaining 😉 This will likely be the last green net worth update I’ll see for two years, because I’ll be making substantially less as a full time student and a part-time employee.
Let’s see, I was a busy bee this month. I was able to:
- put more money into my TFSA
- buy more SLF (hey, the dividend yield is at >5%… ) in my TFSA. I have 98 shares so far and will just need two more to reach the magic number 100, which will give me an annual dividend yield of
$432.$144 (Thanks Steve!)
- move some shares in-kind from my non-registered account to the TFSA account. I moved my shares in BMO.TO, CPD.TO, and CYH.TO
- This gives me less and less TFSA contribution room which makes me feel warm and squishy inside
Okay, so here’s the breakdown for this month:
CASH: $12021 (+0.1%)
- Boyfriend and I have a joint account which our mortgage is deducted from, and our own personal accounts
- 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 $2200 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. If you want to help contribute to my personal lifelong dream, feel free to sign up for an ING account with my orange key. You’ll get $25 if you start an account with $100, and I will get $25 too.
STOCKS: $14, 942 (-8%)
- It isn’t as bad as it looks. I transferred my BMO shares (I think I only had about 45) and took advantage of the recent lows so that my transfer “in kind” won’t be much of a transfer (hence I will avoid capital gains).
- 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: $11235 (+1.5%)
- 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.
The RRSP is maxed out for this year. I am seriously thinking about maxing out my TFSA instead (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 owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan, but I won’t have to start repaying until 2012 (jeepers, 2012 is creeping up already).
OTHER INVESTMENTS: $2689 (-2.6%)
- 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.
- Hmm, just a few more months until I can get my money out from my venture mutual fund and invest it elsewhere. Can’t wait!
TFSA: $7812 (+14.6%)
- Happy to report I finally got my butt in gear and sent off my request to start a DRIP with Questrade for EIF… HOWEVER, it’s been a month and I haven’t seen any DRIPPING action yet. Gotta ask Questrade about that one.
- I added some money to the TFSA and transferred in some non-registered stocks
- I signed up for a Tax Free Trading Account with Questrade and my TFSA consists 100% of stocks
- I am not counting this in my net worth, because it’s 11 years old.
- I got a chip in my car windshield and it turned into a big crack (about the length of a hand). I don’t know how much it will roughly cost to repair the windshield. Good thing its on the passenger side My poor baby.
- I still haven’t done anything about the crack in my windshield- gotta get on that I suppose 😉 Anyone know how much it usually costs to replace a windshield?
PRINCIPLE RESIDENCE: $387,500
- 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.
- We plan to live in this house for 5-10 years or even more, and we are prepared to “suck it up” if it corrects by more than 25%. Our house is in a favourable location in the city, and our neighbours have sold recently for about 30% more than what we paid for our house.
Mortgage Debt: $301, 762 (-0.3%)
- It’s an accelerated bi-weekly payment (-4 years from amortization) and we plan to add on what we get from our rental downstairs to pay the mortgage off faster. Target pay off= 15-17 years. The rental has not started yet, perhaps we may be looking at renting it out in
September.or basically whenever haha.
Credit Card: $504
- I haven’t paid for my tuition yet. ‘Nuff said. Deadline is end of September and I’m going to procrastinate until then 🙂
- 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.
- I basically charge everything to my card to reap the benefits (free flights and hotel stays here I come!)
- BF and I got the Royal Bank Avion Infinite Card as our joint credit card (free for one year since we have a mortgage with RBC! So will be using it and letting you how I like it- I would of course never pay $170 a year for this, but since it’s free for one year, why not?)