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).
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).
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%)
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)
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!
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?