Talk about barely squeaking by this month in the positive territory. The major reason for this month’s lacklustre net worth performance is because the stock market has been lacklustre. 20/20 vision- should have sold in May and gone away! I’m tempted to buy some more BMO at current pricing… tempted to sell some of my other stocks for a loss (natural gas doesn’t seem to be doing so well, unfortunately). Who bought facebook IPO (don’t worry I didn’t!).
Thanks guys! I achieved my ING bonus this month (actually just a few days ago)! Now my OCD tendencies have been satisfied LOL. So thank you to those who’ve helped me with this and thank you to TM and JB for putting the widget up there for a few more weeks. My future trip to Mt Kilimanjaro is well funded now!
Okay, so here’s the breakdown for June 2012:
CASH: $15, 683 (+1.06%)
Boyfriend and I have a joint account which our mortgage is deducted from, and our own personal accounts.
- 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 $3300 saved up for my goal of climbing Mt Kilimanjaro (highest peak in Africa). I’m automatically deducting $100 a month from my bank account into this travel account. I think I’ll take it until $3600 and probably stop funding it.
- My goal is to save $5000 in my emergency fund by the end of the year.
STOCKS: $7680 (-4%)
- Stock markets have been pretty terrible with the depressing economic news these days.
- Basically all that’s left in my non-registered account is USD stocks and the lonely stock left in my BMO investorline account
- These are stocks that capture 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: $12701 (-2.7%)
- I did my net worth calculating before the pre-authorized monthly contribution could be deducted, hence the crappy value. The crappy value is also existent because of the crappy markets.
- This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and my new 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
- I owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I haven’t decided whether or not to pay it back this year or have the 1/15 amount included as income. Since I’m in school, my income has decreased substantially so it might be feasible to just let the minimum amount get added as tax for 2012 (remember RRSP’s are all about tax deferring!)
TFSA: $20809 (-5.9%)
- As you can see here, even with a solid-looking dividend portfolio, one has to be ready to ride the rollercoaster. I’m down almost $1500 in my dividend portfolio this month.
- 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!
- I have maxed out my TFSA contributions for 2012
- I am not counting this in my net worth, because it’s 12 years old.
- It’s due for a major tune up (probably will cost around $500) and I need to get this done…sometime.
PRINCIPLE RESIDENCE: $387,500 (0.0%)
- Got our Assessment in the mail. Good news, apparently the municipality believes our property is worth 42% more than what we paid for it a few years ago. Bad news, this means our property taxes are ridiculous this year.
- I know this it does not make any sense to divide the principle residence and mortgage debt by 50%, but since I cannot disclose my boyfriend’s financial information, I will do it this way to simplify things. Some of you may not agree to that, and I understand.
- Vancouver is an expensive city to live in, and many people predict that there will be a housing collapse, especially in a place where their is such a disparity between income and housing price. The Vancouver market was actually quite unscathed compared to the depressed housing markets elsewhere, and many people believe it is sorely due for a correction.
Mortgage Debt: $293, 394 (-0.14%)
- This month looks crappier than last month because I calculated my net worth earlier than I usually do
- My boyfriend wished to stop out additional payments on our mortgage because he’s planning to be going back to school part-time too and wants to save up. Depending on how my income goes when I go back to work, I might contribute extra myself later on or maybe do a lump sum.
- Our basement suite is rented out so this takes the sting out of me going to school and dropping my income
Credit Cards: $528
- I ended up cancelling my AMEX Travel Rewards card (they are apparently very strict about not giving you more than 1 year free), so I signed up for another Amex points card (I know, I have a problem).
- 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.