Welcome to my July net-worth update everyone!
If you are wondering why my net worth has seen a big increase this month, the answer is quite simple. The reason for the 10.1% growth is because my update is 1 week late!
My initial plan was to release my numbers at the middle of the month but for some reason it is now at the end. I have still yet to decide whether to move it back to mid-month or to start releasing it near the end (now that it is already there).
Anyways, in summary, July just happens to be another ordinary month with nothing major worth mentioning. Here is how my numbers currently stand:
Assets: $49,061 (+5.5%)
- I am slowly building up my cash position right now because I do not plan on contributing them to my RRSP just yet.
- At the present moment, I plan on saving up 10k for something that I will go into further detail in another post.
TFSA: $41,086 (+3.9%)
- My TFSA is essentially maxed out. I still have $500 left of contribution room though but I am a little hesitant to contribute this as I don’t want to accidentally go over the limit. I find it extremely inconvenient that there are no sure ways of keeping track of your exact contribution.
- Similar to last month, my energy and financial stocks have taken quite another beating. I am also currently looking to sell all the stocks in my portfolio as I plan to transition into passive investing through index funds and low MER ETFs.
RRSP: $1,652 (-3.5%)
- My RRSP had dropped in the past month due to the poor performance of my Canadian and US index funds. I have a feeling that the weak Canadian Dollar has something to do with it.
- On a side note, I plan on converting this TD E-series account into a self-directed RRSP.
Pension Contribution: $2,376
- No updates in this section.
Liabilities: $17,041 (-2.1%)
Student Loan: $16,869
- No updates. Just chipping away at my monthly repayment at the present moment.
Credit Card: $172
- No major spending to report.
Total Net-Worth: $32,020 (+10.1%)
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