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Friday, 8 July 2016

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


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