Net Worth: October 2010
$122998 (+ 4.9%)
Eep! So happy the markets were doing so well lately- bring back the bull markets, baby! I am happy to report that I have a net worth (not calculating my pension) of over $100,000! I made it. I remember 10 months ago, my net worth was only $79K, now I made it to $105,000 without adding the pension. So up $5K this month primarily due to the way Mr. Market feels this month. Happy dance happy dance…
Anyways, enough gloating.
I have been really happy with the way my Questrade TFSA is performing with a 29% increase in 9 months…this sure beats a lowly 2% interest you would get with traditional high interest tax free savings accounts. Huzzah!
If you're interested in opening up a Questrade account, they have a promotion going on to win a $5000 stock trader course provided by the Online Trading Academy (an affiliate of Questrade).. and if you're NOT in Vancouver or Toronto, they'll pay you up to $2000 airfare to fly your butt over to Vancouver and Toronto (can you say sweet deal or what?). A few months ago, I went to one of their free trading seminars (lunch included- sweeeet!) here in Vancouver and thought some of the trading techniques they taught were pretty good. You can check out my review of the Online Trading Academy here. If you're in Vancouver or Toronto, you can sign up for one of the free seminars (did I mention free lunch??) by clicking on the purple box to the right of the screen.
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.
- I automatically deduct money from my chequing account and have it siphoned to the HISA account (paying yourself first)
STOCKS: $23360 (+4.4%)
- I didn't do much buying and selling (at all really) just kept watching my fave dividend paying equities go up, up, up! FTS.TO performed really well this month, and ECA.TO came back up as well.
- 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 3% difference right now)
RRSP: $23849 (+5.5%)
- 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
- I funded my Questrade RRSP account with some cash.. and it's still not fixed. Don't want to talk about it, it makes my blood boil.
- I haven't bought anything with the extra money I funded this year yet, but plan to get some bond ETF's.
- I still have $400 to contribute before the end of the year for my RRSP contributions which I plan to do after they find the $300 that I deposited first (insert eye roll).
PENSION: $17931 (+2.1%)
- 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: $10989 (+2.9%)
- 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. 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 29% ROI this year (including distributions)–awesome!
- 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.
- Speaking of being driven to the ground, apparently Honda Civics window rubber wears out easily (as evidenced by the fact that my window decided it didn't want to close one day and I had to spend $70 fixing it and putting it back on the track)
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”.