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!
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%)
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)
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!
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?