July 2017 Net Worth Update: $620,800 (+0.15%)

So this month, I am just barely squeaking by in positive territory, up by 0.15%.  As the net worth grows, the increases are not as impressive (0.15%?? which equates to just over $900) but given that it’s still in the positive direction and forward momentum, I’ll take it.

To be honest, I think I didn’t do too badly considered my investment portfolio has taken a big hit this month (biggest hit of the year so far), with almost a 3% decrease from last month.  My Year to Date investment return is just above 5%.  Also, I inputted the depreciated value of my car this month which decreased the car’s value by over $1500.

I am officially off work now and have yet to meet our new baby so hopefully I can get some work done on this new blog before baby comes!

This month, my dividend income for the month was just around $850, which is the highest so far in 2017 (yay!).  My goal is to have $6000 dividend income annually for 2017.  I have about $3200 left for the year and the year is halfway done already, so there’s definitely some more dividend buying to be done.

Major Purchases:

This month my major purchase was $140 for six months of contact lens and $80 for dog food. Not very exciting, I know!  Even though it wasn’t a shopping ban month I didn’t really buy much, except for I treated myself to an ice cream bar from Purdy’s (which is now $4.40 and it used to be under $2 a bar back in the days, thanks to inflation) and a coffee.

My Goal Progress:

I have over $379,000 left to go to reach my goal 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.  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!

Okay, so here’s the breakdown for July 2017: $620,800 (+$960)

ASSETS:

CASH: $76,300 (+5.1%)

  • I added up my chequing and savings accounts.
  • I will be moving money into my investing portfolio once I run out of cash there

Non-Registered: $83,260 (-1.6%)

  • My portfolio (registered and non-registered) took a big hit this month, down almost 3% collectively
  • 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: $72,900 (-4.4%)

  • Again, big hit!
  •  I max out my RRSP annually, and I have a smaller contribution limit because of my defined benefit pension

TFSA: $68,400 (-2.2%)

  • I spoke too soon last month, now it’s even further away from the $70,000 mark!
  • 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 (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 (-11%)

  • 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: $622

  • 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: $108,350 (-1.4%)

  • 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?  

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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.

3 comments on “July 2017 Net Worth Update: $620,800 (+0.15%)

  1. Dear GenY,

    I’ve been researching credit card companies this year and may make a change in Jaunary 2018. Unfortunately, I won’t meet the minimum for the MBNA World Points World MasterCard (it would be ideal) but I will be able to “up” my PC Financial Credit Card. I’ve made $244.58 with my Cdn Tire World Mastercard so far this year which is pretty good considering it (generally) “only” pays .08%.

    What brokerage account are you with and how much do you pay for trades? I’m with TD Waterhouse and pay $9.99. In turn, I try and minimize my purchases for when I have larger amounts saved. Recently, I’ve been reading about the compounding benefits of investing monthly (or as soon as possible) and I’d never thought of it before. Perhaps it’s worth it to pay the “extra” fees and invest earlier. I’ll have to look into it.

    I would also like to look into DRIPS (for my RRSP as we will be FI/RE in January and my backup of the backup plan is to use my TFSA dividend income). Do you DRIP and if so, do you know of a good resource to explain how to do it?

    Onwards and upwards.

    Besos Sarah.

    • @Sarah De Diego- I use Questrade and mainly buy ETFs so it’s free. If you want to switch to Questrade let me know and I’ll send you a promo code for $50 in free trades 😉 (referral lol). I invest monthly and dollar cost average, and when the market is down I usually buy more. It takes the guess work/ speculation out of investing and takes the ego out of it too. I DRIP with two stocks, HSE (Husky) and SLF (Sunlife). You can either DRIP with the company itself (contact the company you plan to drip) or DRIP with your brokerage (contact your brokerage, in this case, TD and you fill out a form). It was pretty straightforward for me. My DRIP has slowed down since the share price has gone up for SLF but it’s still nice to see an additional share once in a while! Congrats on FI/RE in January, that’s fantastic btw!!!

      • Dear Genymoney,

        I will definitely contact you if I move any money to Questrade.

        I haven’t “driped” at all but it’s something that I’d like to look into (for my registered accounts, I need the dividends on my others). I’ll contact my brokerage and find out. Thanks for the reminder.

        Besos Sarah.

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