GYM August 2017 Net Worth Update: $628,500 (+1.2%)

I’m pleased with the increase this month!  Whenever the update is more than 1% gain from previous I’m a happy camper.

The market did slightly better this month!  My YTD increase in portfolio is just shy of 6%.  It took a hit last month and seemed to have recover slightly this month.

I didn’t spend very much too so I was able to sock away some more money towards savings.  I’m glad I could stash away some cash since I won’t be getting paid the paycheque that I’m used to for the next year while on baby leave.

My goal is to have $6000 dividend income annually for 2017.  I have about $3200 left for the year and the year is halfway done already, so there’s definitely some more dividend paying shares-buying to be done.

Major Purchases:

This month I spent $40 on wine, one bottle for a friend’s birthday and one bottle of OkanaganJoie rose wine to enjoy since I will be able to have a bit of wine again after my pregnancy (so excited, I missed it so much, I swear I am not an alcoholic!) and in between breast feeding of course.  Otherwise, I went out for dinner and brunches a few times with girlfriends, bought some ice cream (quite frequently might I add), and treated myself to a pedicure.

My Goal Progress:

I have over $372,000 left to go to reach my goal of net worth of $1,000,000 by age 40.  I don’t include my defined benefit pension contributions in this value but I do have it as a back up to use in case I can’t make my target, lol.  I have an over five year time frame for this, not trying to disclose my exact age or anything haha.  Not entirely unachievable, I hope!

I joined the Rockstar Finance Directory, check out my modest progress there!

Okay, so here’s the breakdown for August 2017: $628,400 (+$7600)

ASSETS:

CASH: $83, 700 (+9.7%)

  • I added up my chequing and savings accounts.
  • I will be moving money from cash into my investing portfolio once I run out of cash there
  • One of my savings accounts is a Tangerine account, if you want $50, feel free to use myOrange Key 33530953S1 from now until October 31 2017 you can get $50 for opening up a Tangerine account (minimum fund is $100) and I will get $50 too!  Usually it’s just $25.

Non-Registered: $84,300 (+0.7%)

  • My portfolio (registered and non-registered) took a big hit this month, down almost 3% collectively
  • These are stocks that capture the “moment in time”, including unrealized gains and losses
  • There is also about $10,000 of cash in here, being slowly deployed with dollar cost averaging

RRSP: $73,100 (+1.4%)

  •  I max out my RRSP annually, and I have a smaller contribution limit because of my defined benefit pension

TFSA: $68,400 (+0.5%)

  • I spoke too soon last month, now it’s even further away from the $70,000 mark!
  • I max out my TFSA annually, it was great when the limit was $10,000 but the government changed that unfortunately
  • It will be very exciting the day that my TFSA account reaches over $100,000.
  • I signed up for a TFSA in 2009 with Questrade (a self-directed account) and have been using this since then

HOME: $413,000 (0.0%)

  • This is the municipality assessed value.  In previous updates, I just listed the purchase price but thought I might as well start fresh and use the assessed value.
  • I plan to update this value on an annual basis
  • I am planning to rent it out or sell it in two years.  The rental rates have been going up in Vancouver (as well as condo prices).

CAR: $13,900 (0.0%)

  • I updated it for 2016-2017 with the Canadian Black Book price this month and will update it again July 2018
  • I bought the car new in cash because the new car price and the used car price were only different by a few hundred dollars
  • Cars definitely depreciate!

LIABILITIES:

Credit Cards: $760

  • I pay off my full amount every month
  • So far I have redeemed $440 for 2017 with the MBNA World Points World MasterCard
  • I usually have a few credit cards on the go but so far for 2017 I have only been using this one (for myself), and for our joint credit card I use the PC Financial MasterCard

Mortgage: $107,600 (-0.7%)

  • I pay an extra mortgage payment a month
  • It will be exciting the day when the mortgage reaches just five figures.
  • I have a mortgage when I could technically pay it all off because I want to be able to invest the liquid money instead, given the low mortgage interest rate environment

Readers, how did you do with your update this month?  

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About genymoney

GYM is a 30 something millennial interested in achieving financial freedom through disciplined saving, investing, and living a minimalist lifestyle.

12 comments on “GYM August 2017 Net Worth Update: $628,500 (+1.2%)

    • @Mrs. Picky Pincher- Thanks! Baby’s here and I enjoyed some nice rose the other day, with some blue cheese, brie, and havarti. Lol, it was fantastic!

  1. From what I see, the amount of cash is pretty high. I just don’t like it when money is sitting in an account earning very little interest. I would either use the cash to invest in the stock market or pay off my mortgage.

    I know what some people may say, those could be money for an emergency. It could, but if an emergency that will cost you that much, it may be time to look to insurance for protection.

    For me, I would rather invest the cash and apply for a line of credit to plan for emergencies. That way, my money is working hard and I also have access to emergency funds if it need it.

    • @Leo T. Ly- Yes you’re right I have quite a bit of cash 🙂 I like to have some cash when the next recession hits so I have money to buy when everything is down.

  2. You seem to have a war chest with all that cash amounts lying there. With that being said, I am sure you’re planning to put it to use for the next dip and or a prolonged correction.

    As for your home price, I am sure the market value is higher, and you’ve indeed reached your goals, if you were to sell now. It remains to be seen how the housing prices in Vancouver and Toronto adjust (if any), after the rise in interest rates. From what I can tell, Vancouver would continue to head higher than Toronto, but maybe slow down its pace a bit. In Toronto area, we’ve witnessed a rapid slow down.

    • @sherry- Nope just me! Will be adding a baby GYM one just like your Baby Bun one, minus the nice graphs you have. We opened up an RESP recently!

  3. Well done on the performance.

    On your cash, that’s not so large IMO. At some point if there is enough of it you may consider paying off the mortgage?

    I like cash, lots of it, the more the better, especially when the mortgage is paid off. Any cash that is invested has to be 101% safely invested, little to zero risk. Even if it’s a HISA (2.3% -2.5%) or a 5 year GIC paying 2.75% both available in the GTA at this time.

    At our age the least aggressive investments possible

    • @John- You’re protecting your principle with little or zero risk, which is uber important in retirement. Maybe! Though I would rather invest in the market rather than pay off the mortgage at present.

      • Agree that for retirees our’s is the model fit.

        For someone in their 30’s that isn’t a ‘sophisticated investor’ (many are & many take too many risks) the aim is to get at least a 6%/yr return in the form of interest/dividends or through leverage…. and that is doable also. Capital appreciation is a bonus.

        I have been around a very long time starting at age 20 when gold was $35 oz, when minimum wage was $1/hr in Toronto, when a house could be bought for 4x salary, been through the ultra high mortgage rates of the early 80’s, the two housing boom cycles, Black Monday & the financial meltdown. The media & every financial advisor believe or will tell everyone that they have the answer to the ultimate investing model … well they don’t ..

        Sorry, I was having a senior moment whinge

        Good luck with your investing, portfolio & it goes without saying ‘ keep you & your family healthy in every which way’, enjoy them & life one day at a time

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