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Friday, 8 July 2016
July 2016 Net Worth Update -0.68% Goodbye RRSP's

July 2016 Net Worth Update -0.68% Goodbye RRSP's

I've now liquidated the last of my RRSP's in anticipation of a big life change coming up. The tax implications of the withdrawal will be negligible because I did not claim the full deduction amount previously. The only reason I  contributed to my RRSP in the first place was because my company matched my contribution up to 5% of my salary. I have never been a fan of RRSP's in general (the idea of delaying taxes in the hope of paying less later), so I am glad to be rid of them.

This coming month will be a busy one and I may post my next net worth update from another country. I will write about that later.

Here are my numbers for the month that saw huge swings in either direction before levelling off. I believe they've held up well considering the amount of uncertainty in the markets.

July 1, 2016

TFSA - $45,714.29 -1.57%

RRSP - $0 -100%

Stocks - $4,308.47
(purchased this month = $4,308.47)

Chequing - -$81.18

Total: $49,941.58

Gain:  -0.68% or -$343.67


Saturday, 4 June 2016
May/June 2016 Net Worth Update +1.18%

May/June 2016 Net Worth Update +1.18%

I missed reporting my May 2016 net worth and I'm disappointed with myself for it.
I was travelling in Asia again at the beginning of May and was distracted with a lot of things, but that really isn't an excuse. The truth is that I haven't given much thought to this site in quite a while - but that should change in the coming months as my life gets a tad more exciting.

I am considering liquidating what's left of my RRSP to use as cash on hand for a possible move coming up.

June 1, 2016

TFSA - $46,442.48 +3.08%

RRSP - $4,009.67 +4.06%

Stocks - $0
(purchased this month = $0)

Chequing - -$166.90

Total: $50,285.25

Gain:  +1.18% or +$588.39


Tuesday, 12 April 2016
April 2016 Net Worth Update +4.99%

April 2016 Net Worth Update +4.99%

April 1, 2016

TFSA - $45,052.79 +6.49%

RRSP - $3,853.17 +3.09%

Stocks - $0
(purchased this month = $0)

Chequing - $790.90

Total: $49,696.86

Gain:  +4.99% or +$2,363.31



Tuesday, 1 March 2016
Feb/March 2016 Net Worth Updates - Tough times and Reflection

Feb/March 2016 Net Worth Updates - Tough times and Reflection

It's been exactly a year since I broke through the $50k barrier and yet here I am today almost three thousand dollars below that mark. At the time I was still struggling with my daily expenses and cash flow, but overall my numbers were still going up and up. Fast forward to today and I am down more than 11% from my peak. Through this site I am able to go back to that moment and glimpse the thoughts going through my mind - and I am glad to see a calm and rational mindset even during those highs.

"Another month of quite substantial gains generated by continued strength in the markets. I don't let these gains go to my head by pretending that they are somehow related to any skill I might have, as I know they could easily reverse in the coming months. I am not one to think that I can beat the markets and this forms the bedrock of my long-term investing strategy. Having said that, however illusory these gains may be, I still can't deny feeling a hint of satisfaction when passing these milestones along the way." - March 1, 2015


Feb 1, 2016

TFSA - $43,586.56 -3.91%

RRSP - $3,863.54 -4.43%

Stocks - $0
(purchased this month = $0)

Chequing - $1,173.08

Total: $48,623.18

Gain: -0.87% or -$425.99




March 1, 2016

TFSA - $42,305.29 -2.94%

RRSP - $3,737.59 -3.26%

Stocks - $0
(purchased this month = $0)

Chequing - $1,290.67

Total: $47,333.55

Gain: -2.65% or -$1,289.63
Friday, 1 January 2016
2016 TFSA Limit = $5,500

2016 TFSA Limit = $5,500

The CRA has announced that the annual TFSA contribution limit for 2016 will be $5,500. This makes the total possible contribution room since introduction a sizeable $46,500. 
"Under proposed legislation, starting January 1, 2016, the annual TFSA dollar limit for 2016 will decrease from $10,000 to $5,500.00. The TFSA annual room limit will be indexed to inflation and rounded to the nearest $500."

*As usual, don't just take my word on something when it comes to your money. Check out the CRA site at the links below.
http://www.cra-arc.gc.ca/tx/rgstrd/papspapar-fefespfer/lmts-eng.html
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/cntrbtn-eng.html




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