Last Updated on
Net Worth: February 2010 (down 2.6% boooo)
I should have done my net worth before all the financial meltdown that happened this week (my portfolio took a huge hit!). I usually calculate my net worth shortly after the first Friday of the month (GEEKY, aren't I) because that's when my automatic deduction into my RRSP TD E-series happens. I AM really glad that I'm getting to do this net worth calculating every month. It kind of grounds me and nudges me to save up more and spend less. It's a good idea to calculate your net worth regularly, IMHO. To calculate your net worth accurately, you'll need to get all your online passwords from your financial advisors (they'll start “straightening up” because they know you're checking regularly–I got a Christmas card from mine with an update on my portfolio from him this year!)
Okay, here’s the breakdown:
- I added up my chequing and savings account (the Manulife High Interest Savings Account).
- I automatically deduct money from my chequing account and have it siphoned to the HISA account.
- I took money out from my HISA to buy my TFSA
STOCKS: $20,453 (-18.0%)
- This month I was really active (hmm…maybe almost TOO active) buying and selling stocks on Questrade, so I included ‘sideline' cash (my cash is sitting on the bench itching to play in the stock market)
- I sold off my 75 shares of VISA and then proceeded to use the gains from that sale to buy my trip to Asia (the tour company I booked with in Asia needed to take the money in USD and I bought VISA when the exchange rate was at par so didn't have to take a currency hit)
- I actually realized some capital losses this month including one that was $#@&$( inadvertant due to Questrades wonky webtrader system. I now use their QuestradeWEB platform and find it much less inaccurate.
- These are stocks that captures 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: $19401 (-4.5%)
- This includes some emerging market mutual funds (BRIC), the monthly deduction into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account, and some ETF stocks I have in my BMO Investorline account.
- I hope to max out the $25,000 and withdraw for my first home purchase (hopefully soon) with this amount saved.
- The stocks in my RRSP's took a hit from the financial meltdown earlier this week
- I am a public sector employee (hurrah for good-lookin’ pensions!) but am not including it in this net worth update because I want to keep it simple, and to be honest, I’m too lazy to calculate how much I have in it.
OTHER: $11161 (-3.6%)
- (initial investment was$18,100 from the get go)
- I have some investments that were poor choices (I signed up for them before I became self “edumacated”) that are 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 years ago
TFSA: $10254 (+105%)
- $5300 Principal protected through an HSBC investment (+6%) from inception (TFSA of 2009)
- $4954 For TFSA for 2010, I signed of for a Tax Free Trading Account with Questrade and I bought lots of income trusts and am eagerly anticipating having my monthly distributions roll in
I’m not going to bother counting the car. It’s 10 years old and I’m planning to drive it to the ground.
CREDIT CARD: $2094 (-41%)
- See what I meant when I said my credit card spending has it’s ups and downs?
- The big purchases this month were: My flight to Asia and taking my dog to the vet and getting denied my claim from Pet Care
- I pay off my full amount every month.
- I basically charge everything to my card to reap the benefits (free flights and hotel stays!)– I need to find a new credit card soon because my SPG MBNA Master Card is sadly, ending. I plan to post about my credit card options and plan of attack soon.
Latest posts by Young (see all)
- How to Get More Money Back from your Tax Return - February 21, 2018
- Book Review: The Behavior Gap – Simple Ways to Stop Doing Dumb Things with Money by Carl Richards - July 2, 2017
- Book Review: The Richest Man in Babylon by George S. Clason - May 10, 2017