GYM October 2017 Net Worth Update: $638,700 (+2.0%, +$12,650)

 

Gosh, I love 5 figure months!!

I am always in a good mood after I do a net worth update and it’s in the high range.  Last month’s update was a Debbie Downer and this month’s update is an Upper for sure.  The market is going up, up, up, but I know it’s going to be any time before it goes down, down, down.  I’ve been through the 2008 trenches, so I hope I am prepared!

My YTD return for my investment portfolio is just above 8.5% which is pretty darn awesome in my humble opinion but the year isn’t over yet, the S&P/TSX Composite index is up 5% YTD and the S&P500 YTD is over 15%.

One of my 2017 personal finance goals is to have $6000 dividend income annually.  I have about $2000 left for the year, so there’s definitely some more dividend paying shares-buying to be done- my forward annual yield is $6000 so I think I’ve achieved that but it won’t be reflected for this year.  I had a $600 dividend income month for September which was of course really nice.  If you’re interested in signing up for a free download of the dividend income spreadsheet tracker that I use (courtesy of Mr. GYM since I embarrassingly don’t know how to use Excel), sign up here!

Major Purchases:

I spent quite a bit this month, there were a lot of big purchases.   I had to buy more dog food (I usually buy it every 2-3 months), I made a donation to a friend who was running for breast cancer, I spent $180 and rented a PO Box for a year (because Mail Chimp suggested so), and I had to replace my car battery unexpectedly for $150.  My battery to my car died after not driving it for about a month (admittedly, it’s hard to drive when you have a newborn and you’re recovering post partum!).

My Goal Progress:

I have over $361,000 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!

Baby GYM’s Networth:

We set up an RESP for Baby GYM and he’s rocking it already!  Paper gains of $45 on $16,500.  I’ll have a post on what exactly we did with our RESP coming up shortly.

Okay, so here’s the breakdown for October 2017: $638,700 (+$12,650) (+2.0%)

 

ASSETS:

CASH: $85,700 (+5.5%)

  • 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 October 31 2017 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.

Non-Registered: $85,750 (+2.4%)

  • These are stocks that capture the “moment in time”, including unrealized gains and losses

RRSP and TFSA: $146,150 (+2.9%)

  • 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, and it is over $70,000 right now, 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
  • 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: $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).  Apparently a 1 Bedroom can be rented for $2000 a month now (average price in Vancouver), crazy!

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: $740

  • 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: $105,100 (-1.4%)

  • I pay an extra mortgage payment a month
  • It will be exciting the day when the mortgage reaches just five figures— so soon!!
  • 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.

18 comments on “GYM October 2017 Net Worth Update: $638,700 (+2.0%, +$12,650)

    • @Steve- Do you and your wife share the same birthday!? Wow, congratulations, that must have been an extra extra special birthday! Hopefully I will be able to celebrate the same sentiment when I turn 40!

  1. Nice NW increase! I think your 5-year goal is definitely doable. 🙂

    My September figures were up on paper, but cash flow was negative again. I’ve got a tenantless property at the moment and another one which I had to fix up extensively. Hoping to turn that corner by the end of the year.

    • @Michael FA- Cash flow is so important- hope you get a new tenant before year end. Ahh land lord woes! I’m so tempted to be a landlord but fixing up stuff is not my forte (nor is it my husband’s unfortunately).

    • @Mrs Picky Pincher- It would be nice to see how his RESP (similar to the 529 plan) does over the years. That’s a good idea to have him grow up tracking it too. Once he starts to read or can see numbers we’ll start him on that 😉

  2. Alright, you setup a college fund for Baby GYM!! If it’s as similar to the 529 here in the States it may be a good idea rebalance it at least once a year.
    I’m going to sign up to download the dividend income spreadsheet Mr. GYM set up for you. Thanks for this, I’m going to start looking at my dividend income more closely.
    Nice increase your net worth this month, the way your going you may hit your goal before your 5 year mark!! Keep it up GYM!
    Kris recently posted…My Financial MistakesMy Profile

    • @Kris- Nice!! Yes, I will definitely rebalance once a year, maybe on his birthday! Hope you like the dividend spreadsheet- if there are suggestions you have for the spreadsheet I’d be happy to hear to modify it. Maybe I might hit my goal before the 5 year mark, but it’s dependent on housing. Apparently Canadian housing will crash 15-20% next year so who knows 🙂

  3. Wow, you are really doing great! I wish I had that kind of wealth at your age, but that’s long past.

    “I’ve been through the 2008 trenches, so I hope I am prepared!”

    Me too! I’ve been through other crazy market stuff – 1987 market crash, 2000 dot-com crash, and 2008, of course. I weathered those without panicking. But I FIREd in 2012 and I haven’t seen a crash since then. In fact, my Sequence of Returns has been a dream come true. I THINK I’ll deal with the next bear market OK, but I’ll never really know until it gets here.
    Mr. Freaky Frugal recently posted…Retirement Savings Emergency!My Profile

    • @Mr. Freaky Frugal- But a $1,000,000 isn’t what it was when you were my age 🙂 $1,000,000 can’t even get you much of a townhouse in Vancouver where I live, but I am grateful for my slow progress anyway. Wow, you’ve really been through a lot 1987 market crash, I was quite young at that point lol. You’re a prime example of why not panicking when the market crash inevitably occurs, works, since you have FIRE’d already!

  4. Excellent month always great to see your net worth go up. Congrats on receiving $600 in dividends in September. I think it is pretty awesome you showed baby GYM’s net worth. Thanks for sharing I love reading your posts.

    Matthew

    • @Matthew- Thanks Matthew! I love reading YOUR dividend posts! Yeah it was nice ($600 for September), but definitely not the ‘usual’, hopefully it will be the usual for next year +/- $100. I got inspired for posting baby GYM’s net worth from Sherry at Save Spend Splurge 🙂

  5. Nice update! I just came across your site for the first time (I’m about 3 months into mine now).

    For your dividend goal of $6000 annually, it appears you’re making great progress.

    Do you have the bulk of your dividend-producing in taxable or non-taxable accounts?

    – BD Mike

    • @BD Mike- Thanks so much for stopping by! I’m about 4 months into mine too (going on 8 years haha sort of..). I think it’s a good mix, probably about 60/40 in non-taxable and then 40% in taxable. Unfortunately my nontaxable accounts are all maxed out so I am left with putting things in my taxable account.

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