Net-Worth Update October 2015: $37,804 (+$3,195/+9.2%)
Welcome to my October’s net worth update everyone!
I am cutting really close with this one because I am going through some personal stuff lately which I will blog about at a later time.
Anyhow, on a positive note, October was an excellent month for my stocks. In fact, it was even better a couple of days ago but my holdings had dropped slightly since then. Here are my numbers:
Assets: $54,445 (+6.6%)
Cash: $10,810 (+32.8%)
- Currently, I am still stacking up my cash position. I am considering the possibility of contributing to my RRSP or opening up a non-registered account for further investing endeavours.
TFSA: $39,944 (+2.1%)
- My holdings in the TFSA are starting to pick up. It has been an excellent month overall and most of my stocks are starting to recover.
- Some of the notable performers include:
RRSP: $1,315 (-7.5%)
- For some reason, my RRSP has been dropping for a few consecutive months. It is currently composed of 50% Canadian Index, 25% US Index and 25% International Index.
- The weakest link of all of this seems to be the Canadian Index Fund which holds the majority of the portfolio. I will look into this further.
Pension Contribution: $2,376
- No update
Liabilities: $16,641 (+0.9%)
Student Loan: $16,190
- Interest rate at 5.5%
- I am seriously considering paying off this debt completely if I do not manage to find some way to lower the interest rate.
Credit Card: $451
- My credit card spending is a little high this month because I have helped my mom pay off one of her medical bills.
- Aside from that, the rest of the spending comes from eating out.
Total Net-Worth: ~$37,804 (+$3,195/+9.2%)
12 Responses to “Net-Worth Update October 2015: $37,804 (+$3,195/+9.2%)”
My student loan is getting close to $50k now, I’m also considering paying off the whole thing so I don’t have to worry about the $350 payment everymonth.
10% gain is quite a bit. My portfolio sized up considerablely because I bought a ton during the downturn. I will see if this rally lasts.
Indeed, the market seems to be rallying now. I think I will stay strong until at least the end of the year but I guess we’ll find out shortly. 🙂
Wow that’s a nice jump in your net worth for October. Congrats! If I were you I’d definitely pay off your student loan so that’s off the plate.
Thank You Tawcan! I am just trying to weigh the pros and the cons of paying off my loans. Perhaps my funds would be better served investing instead but at the moment, I am looking to see if I could lower the interest rate first.
Thanks for sharing your recent net worth update with us. No question, many of us have seen our portfolios rise in value last month. After a crazy August and September, October was a welcome relief though value is once again getting harder to find. Curious to see if you’ll knock off that student loan. Your % isn’t that bad though.
That’s what I am thinking. If it was any higher, I would probably make it a priority to pay off the loan but this 5.5% is somewhat tolerable for me at the moment.
Great breakdown of your debt/worth, first time on your site Jeff its very well laid out, def adding to one of the blogs I will follow!
In regards to the student loan, I’ve recently seen rates of 5-8% for me personally, so your rate isn’t exactly that bad. As much as i love paying bills off, your balance really isn’t to high+good rate, so that money would be better invested oppose to paying it off. Especially if you are in no trouble with making payments.
-DC
Thank you DC for following my blog. I’ve also added your blog onto my favourites tab and will be checking in on your progress from time to time. I look forward to following your financial journey!!!
Hi Jeff
I hope things go well for your personal stuff there (looking forward to read on that one)
Congrats on achieving an increase net worth in Oct there. I know many people had asked you about your student loan and I remember asking the same thing in the past, still 5.5% I think is worth considering. But I guess you had make plans for that.
Thanks for the advice B! I’m just trying to figure out if I can make a better investment with the money that could be used to pay off my loans. 🙂
Jeff,
This is my first time visiting. That’s a great month and a lot of the trends are moving in the right direction. Have you considered paying off the debt with the excess cash you are collecting. I know we all want to invest, but you could always gain by not paying 5.5% on the debt and freeing up the monthly cash flow used to payoff the loan to restock your cash position and invest. Just a thought.
But great website and I’m looking forward to stopping by more frequently.
Bert, One of the Dividend Diplomats
Very good point Bert! Thanks for dropping by. I’ve added Dividend Diplomats to the list of blogs I’m following!