This net worth inertia is getting to me a bit. It doesn’t really help that I’ve been shopping a lot lately. I would normally get some interest income from my big molehill of cash from my high interest savings account but I moved everything to margin account and am waiting for the monthly or quarterly income to trickle in from the investments.
I am hoping things look better next month but at the same time I’m happy that I’m in the Positive territory and not the Negative territory this month! 🙂
Okay, so here’s the breakdown for October 2013:
CASH: $62035 (-???%)
- As you can see, I finally did something with the pile of cash and moved it to a margin account.
- Thanks for everyone’s suggestions as to what I should do with the $100,000!
- 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 $4800 saved up for my big trip that I hope to do next year.
Non-Registered: $101,865 (+???%)
- So I did a few things with my Questrade margin account and added a bit of money. I haven’t “bought” all the ETFs that I intended to just because I am waiting for an appropriate entry point (limits)
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $36810 (+37%)
- I am pumping up my RRSP contribution to the TD eseries to $1000 per month until the end of the year
- 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 am seriously thinking about maxing out my TFSA instead, if I am not able to max out on both (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’m not including my defined benefit pension which is >$30,000
- I paid off my RRSP loan to myself this month…. because I used the Home Buyers Plan for my down payment.
TFSA: $36350 (0%)
- My TFSA is maxed out for 2013.
- Check out my dividend income spreadsheet!
- 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 years and then rent it out once I find my prince charming (haha…right?)
- I am not counting this in my net worth, because it’s 13 years old.
- I have started a separate ING bank account for a future car
Credit Cards: $1600
- The problem with not having Mint.com is that I can’t see my credit card spending as easily so I ended up resorting back to the Mint.com account but I only added my credit card
- I’ve redeemed over $500 already this 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: $187550 (-0%)
- It’s negligible this month not because I defaulted on my mortgage payment (though that would be good gossip fodder for those who don’t like me haha) but because the mortgage hasn’t been deducted from my account yet
- 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.