GYM Net Worth Update: January 2018 (+$57,800/ +8.8%)

Net Worth Update Jan 2018

Holy toledo, I didn’t win the lottery in the past month, but the BC Assessment Values did come out.  It is calculated based on market conditions as of July 2017.  Apartment values sky rocketed whereas detached housing remained stagnant or decreased (hey, what’s losing $300K on a $3.5 million property? Haha).

Source: CBC

This is seriously getting ridiculous, one bedrooms in Vancouver (in OLD buildings, not new builds) are going for over $500,000 to $600,000.  One of my friends is planning to sell her condo in Richmond and move to the Sunshine Coast to buy a house (which probably cost the same amount as her condo).

My 2017 return for my investment portfolio is just above 13% which is astounding for me.  The snowball is starting to roll and get bigger.  The S&P/TSX Composite index is up 4.9% 2017 and the S&P500 2017 is 19%.

Currently, my forward annual yield is $6000.  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)!

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 also decided going forward from this month’s update that I will not include my joint account contributions (even though balance in joint account is higher than my contributions).

Major Purchases:

Well, I think I spent more on my dog in December than I did on myself (haha!).  I bought him another $250 credit for doggy sitting and for clipping his nails, I drop off my dog once a month for dog sitting but since I’m on maternity leave I haven’t had to because I’m home all the time.  This will probably last until 2019.  I also paid $100 for dog sitting while we were in Hawaii, and renewed his dog license for another $50.  Apparently I was overdue but I never got a notification in the first place so they charged me another $10.  I could call the City of Vancouver to complain but they are so infuriating to talk to and I doubt they will reverse the charges anyway because well, they are the City of Vancouver.

My Goal Progress:

I have over $286,400 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 joined the Rockstar Finance Directory, check out my progress, converted to US dollars, there!

Baby GYM’s Networth: $17,170 (+0.2%)

We set up an RESP for Baby GYM but it’s mainly in cash right now.  He went up another $30 compared to last month.  Still just eating, sleeping, and pooping.  And giggling, laughing, babbling, and crying.

Okay, so here’s the breakdown for January 2018: $713,600 (+$57,800) (+8.8%)

 

ASSETS:

CASH: $54,400 (-35%)

  • This is down again because I transferred some money into my non-registered account and also because I am omitting my joint account contribution amount- I figure that I can’t invest that amount since it’s for joint use so therefore I shouldn’t include it in my updates.
  • 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 January 31 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: $252,500 (+2.2%)

  • I decided to lump everything together from now on 🙂
  • 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 (+19%)

  • This is the municipality assessed value that was just released.  In previous updates, I just listed the purchase price but thought I might as well start fresh and use the assessed value.
  • I 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).  Apparently a 1 Bedroom can be rented for $2000 a month now (average price in Vancouver), crazy!  I’ll have a post on this soon.

CAR: $13,900 (0.0%)

  • I updated it for 2016-2017 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: $312

  • I pay off my full amount every month
  • I just redeemed $220 off my credit card statement, I love my credit card!
  • I have redeemed $660 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 we use the PC Financial MasterCard

Mortgage: $101,900 (-1.1%)

  • 5 Figures… soon!!
  • I’m glad I stopped paying additional payments into my mortgage recently, the home equity in equivalent to over 50% of my net worth now.

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

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: January 2018 (+$57,800/ +8.8%)

    • @Caroline- It’s mainly indexed 🙂 I think having a higher asset allocation in US helped since as mentioned S&P500 was up 19% in 2017. The $100 for one month of dog sitting was courtesy of a heavy family discount, she likes having him around so it is a bonus for her to earn a bit of money.

  1. That’s very impressive, congratulations! Yes, the house market in Vancouver is incredible, and unaffordable. In central Ohio (where I live), a one-bedroom condo could cost as low as USD 60K. You got a great deal for dog sitting, as I saw my friend usually pays at least $20 for one day.

    • @Helen- Thanks Helen! One bedroom condo for $60K, that’s cheaper than some cars on the road here (actually many cars on the road). Yes, I usually pay about $20-30/day but this was a family discount. My sister took care of my dog for 4 weeks and then I used a dog sitter for the remaining week.

    • @Kris- I hope market continues bull run but if not that’s okay too. I don’t think it’s that impressive as S&P 500 was 19% return but given that I have more CDN stocks than US then it’s not that bad. It’s mainly indexed anyways with some dividends for fun.

  2. Nice 13% return !! You had a good year congrats. Property values on the west coast are still going up, it will be interesting to see how the new stress test will effect values in 2018. Unfortunately I have to dispute my BC assessment; my assessment went up 84% SUCKS !! should make it an interesting February.

    • @Steve- So much better than my -2% return one year when my asset allocation was 100% CDN stocks haha. OMG 84% increase that is ridiculous! But congrats too! It’s a double edge sword. How successful is the disputing for BC Assessment? I seem to be resigned in thinking that the gov’t always wins and then trying to dispute is a waste of time. Have you tried in the past?

  3. Seeing all those crazy price gains in Vancouver, I am so glad that I am a home owner and don’t have to buy something there. The housing market has been great and about 30% to 40% of my total net worth increase can be attributed to gains from real estate.

    With all these doom and gloom predictions, I really wonder how the market will turn out in a few years. In the meantime, I am perfectly happy with a 16.8% net worth gain Year over year. Great job of getting closer to the double comma club, I think you should be able to make it in about three years. All the best for 2018.
    Leo T. Ly recently posted…My Personal Net Worth Review – 2017 Year-endMy Profile

    • @Leo- THE PRICES ARE CRAZY HERE!! I really don’t understand why Vancouver is so expensive, I would much rather live in Hawaii for the same price. It’s been raining all day here today. 16.8% YOY is fantastic! Especially since you are a family of 4. I hope your prediction is correct, that would be great to be ahead of schedule in the double comma club!

    • @Mike- Yes there’s huge demand, there are more people living in apartments and townhouses (families) or families moving into the suburbs now because of the crazy detached housing prices.

    • @Enoch- I have always wanted to visit Winnipeg, everyone I’ve met from there is so friendly! I want to see these huge mosquitoes in person. I don’t know how people are affording these homes, these prices are ridiculous. Either I think everyone is spending 70% of their income on their home or it is all drug money or corruption money being washed out in the casinos here.

    • @Damn Millennial- That’s a good quote! I’m surprised people are willing to pay half a million on a 1 bedroom condo. Boggles the mind. It would be good to compare the rate of return (minus all housing costs etc.) compared to investing in the stock market. I’ll do a post on that soon.

  4. Wow GYM! This is fantastic!

    You did incredibly so well. Keep it up! Your yearly return is also incredible! I still need to update mine but been so burn out from work + trying to focus my efforts on increasing page traffics lol!

    I used to look at net worth so closely but these days I find myself obsessing over google analytics and trying to read how to improve. 😩

    Kudos to you for your yearly and this month’s net worth performance 👍👍
    fin$avvypsnda @ finsavvypanda.com recently posted…Two Secrets to Crushing Your New Year Goals – Solid Advice From Warren BuffettMy Profile

    • @fin$avvypanda- Haha, oh no, you’ve gone into the blog addicts blackhole (I’m somewhere in there as well)! I read a post somewhere to just limit yourself to a certain time so that you don’t spend all your time doing this one thing. I wasn’t reading as much since starting this blog, and now I’m going to try reading 30 min a day again so that I prioritize it instead of the blog. It’s a huge time suck, but fun time suck!

  5. Great job GYM. Looking forward to following your progress to a million. That will be an awesome accomplishment. I know you won’t, but don’t forget to enjoy the journey. I think there is an old saying (which is just common sense) that attaining your first million is the toughest. After that it must be like shooting fish in a barrel (I wish).

    ps. Just so I don’t get in trouble with the animal activists out there, I have never shot fish in a barrel and have no plans to do so!

    Tom
    Tom @ Dividends Diversify recently posted…I’ve Heard Smoking Used To Be CoolMy Profile

    • @Tom- Haha you have such sage advice. “I know you won’t but don’t forget to enjoy the journey”. I think I’m enjoying it. I’m not eating instant noodles or Kraft Dinner every day or anything! I think at 1 million the snowball will be moving by itself, however, one million isn’t what it used to be, it won’t even buy you a detached home in Vancouver! Let alone a townhouse. Not even a duplex!

      Don’t worry I won’t peg you as an animal hater for using that cliche. Ooh, I see you posted about Phillip Morris, I’m going to check that out now!

    • @TLS- It was only in the past two years that it went up quite drastically. Before that it was about the same. I’m going to do a post on the condo appreciation and what it really looks like. So many people say “oh it went up $10K etc.” but they don’t realize the cost of mortgage interest, property taxes, maintenance fees etc. that factor in there. I don’t have a post about buying my condo but it was a few years ago, and I used the 50/50 profits from my house sale (from the broken relationship) and the downpayment I already had to buy.

  6. Lol did you just say “holy toledo” xD! I sort of know how you feel, when we got new property estimates, I’m like…”would you like to check that again? Because no one is going to actually pay that I don’t think.”

    My father in law doesn’t count his pension in his net worth either. I’m not sure how it works but if a pension pans out, it sounds like a crazy goldmine! They pay you not to go to work anymore!

    • @Lily- Wow you have such amazing conversations with your father in law, openly talking about finances! We don’t talk about anything like that in my family. Yes, pensions are a wonderful thing- but so are Amazon shares LOL (actually I think Amazon shares are better). For a Defined Benefit pension you have to work X number of years and be a certain age and then you will get the full pension. I don’t think I’ll be working that long (or I hope I don’t) but a partial pension would be nice anyways to top up whatever I end up having.

  7. That is some serious progress! It’s crazy that house values are still going up in your area. It looks like you are well on your way to the million mark, well done! PS: I would totally spend more on my dog than myself too haha!

    • @TeacheronFire- I think in many parts of Canada it’s been a bit ridiculous, of course in certain cities more so than others. Thanks for visiting! Great to know you are a fellow dog lover too!

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