Unfortunately this update is a negative one! I had a sneaky suspicion that it would be. The market hasn’t been that great and I’m down over $1000 compared to last month in paper losses. Also it took quite a while for the maternity leave benefits to kick in. Hopefully next month will be back in the positive territory. Fingers are crossed!
My YTD return is just above 5% which is not too bad I guess, the S&P/TSX Composite index is up 1.21% YTD and the S&P500 YTD is over 12%.
One of my 2017 personal finance goals is to have $6000 dividend income annually. I have about $2600 left for the year, so there’s definitely some more dividend paying shares-buying to be done.
I didn’t spend very much this month either, spent about $75 for my flight to Hawaii using Aeroplan points and went out for brunch with some friends as mentioned in my weekend spending report. Now that my Aeroplan points balance is low again I’m tempted to sign up for some more Aeroplan points credit cards though the likelihood of being able to use up all those points before 2020 is kind of low.
My Goal Progress:
I have over $374,000 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!
Okay, so here’s the breakdown for September 2017: $626,000 (-$2400)
CASH: $81,200 (-3.0%)
- 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 myOrange 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 it’s just $25.
Non-Registered: $83,700 (-0.7%)
- These are stocks that capture the “moment in time”, including unrealized gains and losses
RRSP and TFSA: $142,000 (-0.8%)
- I have a TD e-series RRSP and a Questrade RRSP
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, 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
- 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).
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: $160
- 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: $106,500 (-1%)
- I pay an extra mortgage payment a month
- It will be exciting the day when the mortgage reaches just five figures.
- 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?