June 2008 Net Worth Update (+2.09%)
Welcome to the traditional monthly net worth update – The June 2008 edition. I keep writing these updates to give myself a little heads up on how the finances are doing and it seems that most readers find them enjoyable also.
Lets start off with our income and expenses. Even with our reduced income due to maternity, we have gratefully found that our savings is still on the rise. This is due to reduced spending in combination with increased alternative income. I do expect some larger expenses coming up as we’ve barely scratched the surface decorating the new house. Window coverings anyone?
How about those markets? Just last month, I was touting that the TSX was making all time highs, but we seem to be in a correction zone as of late. If you take a peek at the numbers below, you will notice that my RRSP’s have made quite the gain which seems to go against the current market direction. This is due to a micro cap play going crazy on rumors which has benefited my portfolio nicely. On the flip side, my Smith Manoeuvre portfolio, which is financials heavy, didn’t fare as well.
Here are the numbers:
Assets: $ 598,676 (+5.41%)
- Cash: $4,500 (+0.00%)
- Savings: $31,000 (+15.67%)
- Registered/Retirement Investment Account: $58,200 (+5.43%)
- Pension: $ 22,350 (+0.00%)
- Non-Registered Investment Account: $19,400 (+1.04%)
- Smith Manoeuvre Investment Account: $49,726 (+95.77%)
- Investment Property: $ 124,500 (+0.00%)
- Principle Residence: $275,000 (+0.00%) (purchase price)
- Vehicles: $14,000 (2 vehicles) (-6.67%)
Liabilities: $288,193 (+9.24%)
- Investment Property Mortgage: $93,300 (-0.21%)
- Principle Residence Mortgage (readvanceable): $136,514 (-0.43%)
- HELOC balance: $50,379 (+99.76%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ 310,483 (+2.09%)
Started 2008 with Net Worth: $279,300
Year to Date Gain/Loss: +11.16%
Another month, another modest gain. One big thing that pops out about this net worth update is that it’s the first month that my Smith Manoeuvre portfolio balance is worth less than the HELOC owing. If it wasn’t for the fact that I’m investing for the very long term, I would probably be very nervous right now. However, as I have a lot of cash in the trading account, I’m waiting for my strong dividend payers to get even cheaper so that I can buy more.
Interested in seeing how my net worth has progressed up to this point? Check out my history of net worth updates.