Net worth update: March 2015

My net worth is still climbing. After reading a few finance book and listening to a few finance podcast, I am seeing the importance of having a savings. Before, I would save just for the sake of saving. Now, those savings have a purpose. I will have to work on my emergency fund as I do not have much. I’ve decided to try and save up a year’s worth. The ideal amount is something like 3-6 months or even 8 months. But with the economy the way it is, I’d rather be very safe. My risk tolerance is high when it comes to investing but it’s very low when it comes to savings. I would like to see my savings stay on the plus side over the long run.

With all the savings that I have been doing last year, I am expecting a hefty refund. Part of that refund will go towards my RRSP contribution for this year and part of it will go towards repaying the RRSP loan. The loan will only cost me approximately $21 in interest so I am not in any hurry to pay that off. At my current rate, I might be able to get my net worth up to $60,000 but only time with tell.

Cash savings: $1,089.68
RRSP: $18,998.64
TFSA: $2,635.83
House: $260,000.00

Credit cards: $0
Loans: $1,800
Mortgage: $233,544.50

Net worth: $47,379.65
Change: $1,652.51 (3.49%)

The TD e-Series funds are doing quite nicely. I have only had the account open for a few months and I am already up about $150. Going forward, I’ll be setting up a preauthorized transaction to automatically deposit money and purchase funds. My currently allocation is 10% for the Canadian bond and 30% each for the rest of the funds.

TD e-Series funds
TD CDN Index-e: $446.73
TD US Index-e: $488.53
TD CDN Bond Index-e: $119.55
TD Int’l Index-e: $474.33
Total: $1,529.14

I am having fund investing with Questrade. I’m not sure why that is but it is. I am currently up $180. Also, I am in the process of funding the account to purchase some TD stocks that will pay me dividends. I came across this blog post by Freedom 35 which made sense me so I will be implementing it.

Questrade ETFS
VAB: $2,052.05
VCN: $1,598.48
VTI: $763.14
VXUS: $820.32
XRB: $661.25
ZRE: $647.28
VXC: $564.87
Total: $7,107.39