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Net Worth: November 2010
$128623 (+ 4.8%)
I'm really happy this month with the gains in the market- the market has been doing very very well for the past two months. Definitely beats the summer's sluggish market moodiness.
I have been really happy with the way my Questrade TFSA is performing with a 38% increase in 10 months…this sure beats a lowly 2% interest you would get with traditional high interest tax free savings accounts. Huzzah! All tax free too 🙂 I'm planning to extract this for a house down payment- before the Income Trusts turn ugly- into lower paying corporations. Then I'm going to recontribute next year (don't do it too early or else you'll be penalized, folks!). It was a hard decision to make- sometimes it's hard to put an end to something that's so good… but I guess my thoughts are to get out while it's good! (+38% increase since “my” inception is indeed a great feeling).
Okay, so here’s the breakdown:
I added up my chequing and savings account (High Interest Savings Account).
- I have a new ING automatic savings account where I put away $100 a month in lieu of giving $32 a month to the pet insurance company– when they keep on denying my poor doggy's claims. ING gave $100 just for opening up an automatic savings account and funding it with $100 a month until March 2011.
- Speaking of which, my dog has a vet appointment coming up mid-month to revisit his allergic issues
- I automatically deduct money from my chequing account and have it siphoned to the HISA account (paying yourself first)
- I sold LUX this month and transferred the money over to Questrade so I can pounce on some value USD stocks if I see something good.
- I also realized for the past three months, I forgot to factor in an investment of IPI (Potash) I had since 4-5 years ago (it was in a different account), so that's a bonus! It's like finding $5 in your pocket lol.
- 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 (which is about a 0% difference right now)
RRSP: $24888 (+4.4%)
- This includes some emerging market mutual funds (BRIC), the monthly deduction from my HISA into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account and my new Questrade RRSP account.
- I hope to max out the $25,000 and withdraw for my first home purchase with this amount saved with the RRSP home buyers plan
- FINALLY I GOT THE MONEY BACK INTO my Questrade RRSP account. It only took about…oh… 5 months to get it sorted. So I contributed another $400 to max out my RRSP contributions for this year.
- I haven't bought anything with the extra money I funded this year yet, but plan to get some bond ETF's.
PENSION: $18321 (+2.2%)
- How I calculated it: I took my pension statement and added my monthly contributions from my pay cheque to reflect this month's pension amount. I'm not including my employer's contributions in my pension calculation.
OTHER: $11163 (+1.6%)
- 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 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 or five years ago.
- These guys haven't been moving much, unlike the rest of the market. Once I break even with one of the venture funds, I'm gonna get the heck out (which is in 2012 because I'm locked in). Yuck! These other investments stick out like a sore thumb. =(
- Principal protected through an HSBC fund investment (+6%) from inception (TFSA of 2009)
- For my 2010 TFSA, I signed up for a Tax Free Trading Account with Questrade and I bought lots of income trusts and am having some yummy monthly distributions roll in until they incorporate the income trusts in 2011.
- My 2010 TFSA is up over 38% ROI this year (including distributions)–awesome!
- The YLO.UN.TO fund got switched over to the YLO.TO. I am planning to sell everything in my Questrade TFSA to add to a down payment for the house (just to have the money ready, since I am up $1900 thanks primarily due to CFX.UN.TO which has actually DOUBLED on my initial investment… Sweeeeet!).
- I’m not going to bother counting the car as an asset. It’s 10 years old and I’m planning to drive it to the ground.
CREDIT CARD: $1600
- 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 basically charge everything to my card to reap the benefits (free flights and hotel stays here I come!)
- I got the SPG AMEX card for a few months already and have been using it as often as I can (compared to the MBNA travel elite card) but American Express isn't accepted everywhere here in Canada…I've been getting used to the “Oh, sorry, we don't take American Express”.
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