GYM Net Worth Update June 2017 $619,840 (+0.78%)

Not as great of a jump as last month but I’m happy to be in the positive with the flat market.  One bonus is that this month I got my tax return back which is great!  I just love getting cheques from the government.

My dividend income for the month was just around $300, which is the lowest of the monthly dividend income of 2017 but hopefully this will improve.  My goal is to have $6000 dividend income annually for 2017.  I have about $4100 left for the year and I’m almost halfway through the year which isn’t that great.

Recently, I joined the Rockstar Finance Directory, check out me in the Recently Added Financial Blogs.  For those of you who don’t know what the Rockstar Finance Directory is, it is a nice compilation of PF blogs who choose to share their net worth, definitely inspiring and motivating!

Major Purchases:

I had to pay for my car insurance and then my condo insurance, and then property tax!  June is an expensive money for bills.  I wish British Columbia’s car insurance wasn’t so high (it’s about $150 a month for me), I know it’s much more economical in other provinces.  I could always shop around and switch to another car insurance provider (you know, one that isn’t a Crown Corporation) but it seems like such a hassle.

This month I haven’t made many purchases because after all, it is a shopping ban month, but I did spend a lot on gifts… a baby shower present, and a few birthday gifts.  I also took my sister out for dinner and for some dessert (admittedly it was really me who wanted to go to my favourite dessert place after dinner, but she happily obliged).  I certainly have a lot of friends who are Geminis!

My Goal Progress:

One of my personal finance goals for 2017 was to reach $475,000 by January 2018.  Given that I have achieved this already by mid-year I will aim to measure up against my more difficult goal of reaching a net worth of $1,000,000 by age 40.

This wasn’t including the current assessed value of my home, which puts me at $619,840, which means I have over $380,000 left to go to reach my goal of $1,000,000 by age 40.  Not unachievable, but it will be difficult given a few maternity leaves here and there and possibility of me working part-time in the future.

Okay, so here’s the breakdown for June 2017: $619,840 (+$4740)

ASSETS:

CASH: $72,600 (+7.9%)

  • I added up my chequing and savings accounts.

Non-Registered: $84,533(-2.1%)

  • This month I moved $1500 USD into my RRSP because I got my tax return back and notice of assessment, that’s why it’s lower in my non-registered this month
  • 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: $76,200 (+3.3%)

  • This is mainly because I injected some money from my non-registered into the RRSP
  •  I max out my RRSP annually, and I have a smaller contribution limit because of my defined benefit pension

TFSA: $69,900 (-0.5%)

  • My TFSA is such a tease, it is beyond $70K some months, and then below $70K other months
  • 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

  • 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 annually
  • I am planning to rent it out or sell it in two years.  I am leaning more towards selling it.

CAR: $15,625 (0.0%)

  • I updated it for 2016-2017 with the Canadian Black Book price, will update it again in July 2017 with the depreciated price
  • I bought it new but the new price and the used car price were only different by a few hundred dollars
  • Cars depreciate… ’nuff said

LIABILITIES:

Credit Cards: $2210

  • I pay off my full amount every month
  • So far I have redeemed $440 for 2017 with the MBNA World Points World MasterCard

Mortgage: $109,800(-1.1%)

  • I pay an extra mortgage payment a month
  • 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?  Did you get your tax return back?

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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.

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