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Yeah, you're not really seeing a typo! This is ridiculous but I never thought I would be 1/3 of the way to 1 million at the age of 30. It's kind of a good feeling. Maybe I'll be a contender to reach Million Dollar Journey's milestone too 😉
Sadly, our little home has sold. Its a bittersweet feeling. I'm relieved of the burden on home ownership (the huge debt), the burden of having tenants (though it was kind of fun for a bit, but I would make sure I can't hear them if I ever get another house), and of the upkeep around a home. There's a lot of stuff to worry about including overgrowing trees, leaves in the yard, having to shovel the snow, worrying about infestations (you name it we had it). Although I seemed to be the envy of all my friends, I envied them and their lifestyle. I will miss the neighbourhood and the possibility of ever owning a house again in Vancouver! (Well, who knows, maybe this housing bubble will burst and I'll have my opportunity again).
This is probably the best my net worth update is EVER going to look like. It's all going to be downhill from here LOL. Kind of like when a reporter asked Jennifer Lawrence if they were worried that she is peaking at the age of 22. Mind you, I'm not 22 but I feel like I am peaking in terms of personal finance haha.
Okay, so here’s the breakdown for March 2013:
CASH: $273070 (+132%)
- Still need to deactivate the joint account.
- 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 $4200 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.
Non-Registered: $1765 (-11%)
- I transferred some cash from a terrible investment that I sold into my RRSP
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $22957 (+2.4%)
- 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
- I owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I think I'm going to allocate $7000 this year back to the Home Buyers Plan but will decide when I do my taxes.
TFSA: $27,659 (+0.9%)
- The increase this month is basically from dividend payouts.
- I haven't made any contributions for 2013 yet and am going to max that baby out for this year.
- I finally made my first dividend income spreadsheet! Something I've been meaning to do for… years but never got around to doing it.
- One of my to do tasks is to track my dividend payments in an excel spreadsheet <—done!
- 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 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: $490
- With my MBNA World Points World 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.
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