Slow and steady wins the internal race, right? Thankfully my ZPR shares aren’t hemorrhaging as badly compared to earlier in the month (I was down 2300 at one point, now just down 800 in unrealized losses). I was quite excited about the increase in TFSA contribution room and of course I funneled the $4500 money into my TFSA very soon after the announcement. I didn’t do anything this month in terms of buying or selling shares but I am thinking about buying some more bank shares (perhaps not more BMO.TO likely something else) or adding to my Fortis shares.
One major purchase was using some of my Aeroplan miles to travel hack my way to Asia next month.
As some of you following may know, my goal is to have a net worth of $385,000 by 2016 or $400,000 including my pension. I am just over $400K net worth with my pension contributions and and have under $22,000 to go if I do not include my pension.
Okay, so here’s the breakdown for May 2015 (+3900, +1.1%)
CASH: $25,900 (+1.2%)
- I’m going to try and save up about 6 months living expenses in my emergency fund, and then funnel the rest into my mortgage or investing
- 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: $95,800 (-3%)
- I moved some money from my non-registered account to fuel TFSA
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $56,100 (+1%)
- 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: $53,260 (+11.8 %)
- I maxed out my TFSA (again) for 2015, I have about $9000 in cash, hmmm what should I buy?
- I am thinking about another bank stock or add to my Fortis shares
- 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 (haha…right?)
- 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: $1790
- 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 $650 last 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: $155,100 (-0.8%)
- I paid down a chunky bit of my mortgage and will continue to do some extra monthly payments.
- 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.