GYM Net Worth Update: $717,100 (+0.5%, +$3450) February 2018

Feb 2018 Net Worth Update

This month’s update is not bad considering I did the update on Friday where the market plunged in the biggest weekly dip in two years.  I’m still in the positive territory for this month’s update.  Weed stocks are down 30% and Bitcoin is now trading at $8000, which is much less than what it was just a few weeks ago.  Everything on social media seems to have gone quieter since these two speculative ‘investments’ have been hit.  There is panic selling ensuing.

My 2018 YTD return on my investment portfolio is just up 0.7%.  The S&P/TSX Composite index is down 3.65% YTD.

Currently, my forward annual yield is $6000.  I review and update this on a quarterly basis. If you’re interested in signing up for a free download of the dividend income spreadsheet tracker that I use (thanks to my husband’s Excel handy-work, since I embarrassingly don’t know how to use Excel), sign up here (and you will also not miss another genymoney.ca blog post lol)!

Here are some notes for each net worth update.  I don’t include baby GYM’s RESP net worth in my net worth.  I do share his RESP number just to keep track of how he does month to month.  Also, I don’t count my husband’s net worth since we have separate and joint finances.  I am not including any of our joint accounts in which I contribute to monthly.  I also don’t include the joint car we share.

Major Purchases:

I bought my husband a $100 gift card for his birthday to a bicycle repair shop.  Coincidentally the day I bought it he came home and said his bike chain was skipping, so it worked out well.  We decided to do birthday gifts for each other limited to $100 and forgo gift giving for the rest of the year including Christmas, anniversaries, and Valentine’s.  I also spent another $100 at the vet for my dog’s injection to make him less itchy (looks like it’s going to be a monthly $100 expense now for my ‘stanky dog’ (as CashFlowKat aptly names it haha).  Then I took my mom and sisters out for lunch for around $100 and spent another $100 taking my husband’s family out for dinner for his birthday.  So it was a spendy month!

My Goal Progress:

I have over $282,000 left to go to reach my goal 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.

I joined the Rockstar Finance Directory, check out my progress, converted to US dollars, there!

Baby GYM’s Networth: $19,700 (+14.5%)

We set up an RESP for Baby GYM but it’s mainly in cash right now.  We put another $2500 in the account and the Canadian government CESG contributed the $500.  He’s rocking it and is worth much more than I was when I was less than one years old.

Okay, so here’s the breakdown for February 2018: $717,100 (+0.5%)

 

ASSETS:

CASH: $54,600 (+0.3%)

  • I added up my chequing and savings accounts.
  • One of my savings accounts is a Tangerine account, if you want $50, feel free to use my Orange Key 33530953S1 from now until April 30 2018.  You can get $50 for opening up a Tangerine account (minimum fund is $100) and I will get $50 too (thanks!)!  Usually, the promotion is just $25.

RRSP, TFSA, and non-registered investments: $255,100 (+1.0%)

  • This is because I contributed some cash to my investments, so this is why it is in the positive territory
  • I have a TD e-series RRSP and a Questrade RRSP.  If you’re interested in learning how to build your own ETF portfolio or invest through TD e-series index funds, take the Young Money Bootcamp eCourse 🙂
  • I max out my RRSP annually, and I have a smaller contribution limit because of my defined benefit pension
  • I max out my TFSA annually.
  • I signed up for a TFSA in 2009 with Questrade (a self-directed account) and have been using this since then
  • If you are interested in signing up for a Questrade account (referral alert!) (no fee for registered accounts, free to purchase ETFs, you can get $50 in free trades if you sign up below)

Get $50 in free trades.

HOME: $495,000 (0%)

CAR: $13,900 (0.0%)

  • I updated this annually with the Canadian Black Book price and will update it again July 2018 (annually)
  • 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 depreciate once you drive it off the lot!

LIABILITIES:

Credit Cards: $430

Mortgage: $101,500 (-0.7%)

  • 5 Figures… soon!!

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.

32 comments on “GYM Net Worth Update: $717,100 (+0.5%, +$3450) February 2018

  1. You had a very solid month! Great. Yeah, the market is getting a bit volatile. Probably that’s the way it should be. The bull market has been running for 9 years. Have a great February!

  2. So the net worth here is just yours? That’s great. I share out combined net worth at my site. We combined our finance when we got married so it’s pretty much impossible to separate them now.
    Do you have bitcoin?

    • @Joe- Yup, it’s just me. You and Mrs. RB40 are a great team! Everyone organizes their team differently 🙂 We didn’t combine our finances but do joint finances which works well for us so far. No, I don’t have bitcoin, nor do I have weed stocks. I was quite tempted to look into weed stocks but I never got into it.

  3. Great stuff here!

    GYM, you’re going to become a millionaire well before 40!!! 😛

    I think the $100 limit for birthday is a really good idea. It’s very practical too. The best part is you guys got some awesome deals going for the birthday freebies haha.

    As for your mortgage, way to go! 5 figures soon!! woo hoo… as for my fiance and I, we have like $390k to go lol!! yikes…

    I still need to update our net worth post… I took a screenshot of my Jan 31 numbers, but it’s still sitting on my computer file. The next day, I saw markets took a dip and thought to use these numbers, but it would be so inconsistent with my other updates bc I always take them on the last day of the month lol…
    fin$avvypanda @ finsavvypanda.com recently posted…The Epic Tool You Need To Retire Early Like a King!My Profile

    • @fin$avvypanda- I don’t know, we’ll see. With how it’s going today, it might be delayed. $390K for two people paying down a mortgage is really good, especially in a HCOL like Toronto! Haha, I would just keep the last day of the month’s numbers, keep it consistent.

  4. Awesome GYM, another solid month for you. It will be interesting to see how far the market will correct. As I write this the Dow 30 is down another 545 points. I hope it is a good correction, I have some cash to spend.

    • @Steve- Yes, it’s already gone down quite a bit today. Deploying the cash, deploying the cash! Good to have some cash reserves for times like these.

  5. We were excited for our networth increase after January – but, today’s markets took that momentum away, lol

    Frugal wins of January/February: there’s an insane amount of birthdays for family members like nieces and nephews and inlaws, so, I actually bought their gifts in December…got better deals before/after Christmas so NO Gift shopping this month. I was pretty pumped about that!

    Awesome job on your kiddo’s #’s. I think that was my savings account when I was 22, but still had that lovely student loan debt hanging over my head. Keep it up!
    Mrs. Defined Sight recently posted…Embrace Stress, Care Less & Win in LifeMy Profile

    • @Mrs. Defined Sight- Oh yeah, it’s bloody out there today! Keep calm and buy more is what I’m telling myself 🙂 Smart that you got gifts in December beforehand!

    • @Kris- Yes, they contribute up to $7200 and it is tax-sheltered, and the max is $50,000 contribution. How does the 529 account work?

    • @Enoch- I hope so! That would be nice, but we will see what happens with the market. Thanks, his allergies are the worst. I took him to a dog dermatologist a few years ago and he was positive for allergy to dust, grass, trees, pollen (basically everything!).

    • @Michael- Huge sell-off yesterday! But things recovered a bit today. My portfolio is still down but having some cash handy is helpful right now.

    • @caroline- It will be amazing! Haha, maybe! Maybe I will call it Millionairessby40 haha. If this domain name doesn’t pan out I’ll switch to this one.

  6. Awesome progress! Looks like you are well on your way to accomplishing your goal to be a millionaire by 40. And that’s gonna be a great feeling when your mortgage is under 6 digits. I’ve also noticed that the speculative “investors” have quieted down. As someone who is in the early accumulation stage, I welcome the panic selling. Thanks for sharing!
    Reverse the Crush recently posted…Why the Education System should make Financial Education a PriorityMy Profile

    • @Reverse the Crush- Thanks Graham! I’m welcoming the panic selling too (especially when today the DOW recovered 500 points). I’m sure this is just the tip of the iceberg though.

  7. Great job GYM. That’s good your net worth went up despite the spendy month. 🙂 We are currently almost neck and neck. 😛
    Let’s see how things go next month if the markets continue to be choppy.

    • @Liquid- Thanks Liquid! Haha, we are aren’t we! We’ve been skip-hopping each other for a while now. My bets are that your NW be higher than mine at year’s end. The next few months my income is really hit during maternity leave.

  8. Nice job GYM. Weed stocks and Bitcoin are two areas I have avoided. It has been interesting to see all the blogger and social media buzz around them. I just don’t get it. Probably because I am low risk investor. By the way, I’m always late to the party here because I can’t get your blog into by Feedly feed. Not sure why? I always have to remember to come and check it out. You post a lot (very impressive) so I always know I will find something new and interesting. Tom
    Tom @ Dividends Diversify recently posted…My Only Regret In Life: Speed To A MillionMy Profile

    • @Tom- Haha, I do post a lot, I try to do three times a week but I may re-evaluate this. I think social media amplifies the speculation- kind of like the workplace watercooler x1000000 so one has to try hard not to fall into the “fear of missing out” mode. I will have a look at the Feedly feed in the next few days and let you know- need to tinker around with it since I am not very tech savvy.

        • @Tom- Yes, I saw that other option too (the comment one vs blog one- that must have been kind fo annoying haha). Sorry about that (I am Canadian, I apologize!).

  9. Wooow. Goals! You’re doing really well and your house is almost paid off! I have to get started with my son’s financial future. I still don’t know what i want to do yet. He has cash savings but it’s definitely not going to be enough when he goes off to college. I was thinking of a ROTH IRA or the 529 Plan. So much to think about! I also have to start doing research for Elementary school!
    Melanie, MommyFinance recently posted…How to Feel Hot and Sexy Again After Having KidsMy Profile

    • @Melanie- It’s not a house haha, just a small apartment. It seems like the 529 Plan is very popular for PF bloggers who have children (but that’s just my observation). There is so much to think about being a mom– so overwhelming sometimes!

    • @Matthew- Thanks Matthew! Yeah this post was done before last week’s market meltdown. We will see what the next two weeks hold. Take care and say hi to Buddy for me!

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