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Discussion Starter #41
May 2020 Update

Stock market continues to do irrational things compared to the economy.. but it's clear to see that stock market performance has nothing to do with the health of the economy.
Regardless, I seem to have missed much of the market gains so far. I am now only down less than 1% YTD on my investments.
I've put a few thousand more in the market, but wary of drops.. I have a long time horizon for my RRSP so I guess that shouldn't matter.
May has also been a low spend month.. I think my job will be precarious for the latter half of the year, so I should save up as much as I can and start poking my head around for new opportunities..
But I am getting a bit bored and itching to buy something.. except I need/want nothing, other than a new car, house, wedding, etc., which aren't exactly things I can just hop into a store and buy with my credit card. May still reward myself a little bit though, somehow.. I am up 9.6% re my net worth so far in 2020.

Assets:
Cash in regular/TFSA HISA accounts, a chunk sitting in Questrade TFSA account as cash - $77.4K
TFSA investments - $19.2K
RRSP/ DCF Pension (combination of TD E-series, ETFs, bank stocks) - $163.7K
Car (estimate) - $3K
Home equity - $205.4k

Liabilities:
Credit card (paid off in full every month) - $1.4k
Future taxes from RRSP income - $33k

Net worth in December: $396.5k (understated in the last post)
Net worth in January: $406.9k (+$10.4k)
Net worth in March: $403.0k (-$3.9k)
Net worth in April: $420.4k (+$17.4k)
Net worth in May: $434.3k (+$13.9k)
 

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Discussion Starter #42
June 2020 Update

Relatively flat month, spent a bit more and I make bad investing decisions. Feeling like I may lose my job in the next few months, so I should watch my spending. I figure I'd be out of work for 2-3 months while I find something decent, but who knows. Just have to remember that it's many, many, years until I get to the point of homelessness and starvation, and that's a blessing in itself.

Assets:
Cash in regular/TFSA HISA accounts, a chunk sitting in Questrade TFSA account as cash - $80.8K
TFSA investments - $18.8k
RRSP/ DCF Pension (combination of TD E-series, ETFs, bank stocks) - $162.8K
Car (estimate) - $3K
Home equity - $206.5k

Liabilities:
Credit card (paid off in full every month) - $3.9k
Future taxes from RRSP income - $33k

Net worth in December: $396.5k (understated in the last post)
Net worth in January: $406.9k (+$10.4k)
Net worth in March: $403.0k (-$3.9k)
Net worth in April: $420.4k (+$17.4k)
Net worth in May: $434.3k (+$13.9k)
Net worth in June: $435.0k (+$0.7k)
 

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Discussion Starter #43 (Edited)
July 2020 Update
When I tallied, I thought I was mistaken. Then I realized the increase is a combination of getting 3 paycheques a this month, market volatility and more spending last month.

Assets:
Cash in regular/TFSA HISA accounts, a chunk sitting in Questrade TFSA account as cash - $85.5k
TFSA investments - $19.5k
RRSP/ DCF Pension (combination of TD E-series, ETFs, bank stocks) - $169.4k
Car (estimate) - $3K
Home equity - $207.5k

Liabilities:
Credit card (paid off in full every month) - $1.9k
Future taxes from RRSP income - $33k

Net worth in December: $396.5k (understated in the last post)
Net worth in January: $406.9k (+$10.4k)
Net worth in March: $403.0k (-$3.9k)
Net worth in April: $420.4k (+$17.4k)
Net worth in May: $434.3k (+$13.9k)
Net worth in June: $435.0k (+$0.7k)
Net worth in July: $450.0k (+15.0k)
 

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This is impressive

And depressing as someone slightly younger and maybe 10% of your networth this makes me want to harm myself...it just so hard
 

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This is impressive

And depressing as someone slightly younger and maybe 10% of your networth this makes me want to harm myself...it just so hard
You still have time to rectify your mistakes and change your path instead of harming yourself. I am >35 years old and other people are billionaire or multi-millionaire in that age category. That's doesn't mean, I would harm myself whereas I try hard to increase my NW.
 

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Discussion Starter #46
This is impressive

And depressing as someone slightly younger and maybe 10% of your networth this makes me want to harm myself...it just so hard
Please don't harm yourself. Vancouver/ BC is a hard place to be re COL, and it sucks so hard, I know.
As many people say in other forums, as long as you're not in debt, you're ahead of loads of people in Canada already!
Having said that, as others have said throughout this thread (I am trying hard to learn this for myself also), comparison is the thief of joy. It truly is.
It does nothing for the situation or your mental health, so try your best consciously to stop yourself from doing it.
Early 30s is still quite young in the scheme of things, there is room for change if you're unhappy in the situation you are in.
 

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You still have time to rectify your mistakes and change your path instead of harming yourself. I am >35 years old and other people are billionaire or multi-millionaire in that age category. That's doesn't mean, I would harm myself whereas I try hard to increase my NW.
I'm in the same age group as well (also in Vancouver). Yes, some may be millionaires. But others at my age have nothing, or even negative net worth.

I think a person is doing reasonably well if they have positive net worth, and if that net worth increases over time.

Please don't harm yourself. Vancouver/ BC is a hard place to be re COL, and it sucks so hard, I know.
As many people say in other forums, as long as you're not in debt, you're ahead of loads of people in Canada already!
. . .
Early 30s is still quite young in the scheme of things, there is room for change if you're unhappy in the situation you are in.
Agree 100%. It's not a great idea to compare yourself to others. Individual circumstances vary dramatically from one to the next. There are just so many variables, it's virtually impossible to compare apples to apples.

I had a coworker at my last job. We had similar income and liked to talk finances... over the years his net worth increased much more significantly than mine. It really bothered me! But one day I found out why: his rent was only $400 (compared to typical $2000) since he rented a room in a building owned by his parents. That's a massive 19K annual difference in living expenses just due to personal circumstances! And not something I could replicate.
 

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Discussion Starter #48
Vancouver housing prices hasn't been the best for my situation. The SFH and duplex market is hot, but the condo market is slowing down. Meanwhile, my partner and I are looking to buy a home together, which means I have to sell my condo to do so since I have a significant chunk of savings in RRSPs. I won't lose money, but the gains are minimal in an city where property owners should be making significant profits. Thankfully, my partner has invested a sizeable amount in the tech sector, which means he has made very nice gains over the past while. He will be able to contribute a bit more into the down payment than we both expected, which I am grateful for. However, he hasn't realized his gains yet, and being a more bearish person, that worries me a bit.
I understand though in this environment, keeping cash feels like losing money as housing and stocks keep going up. I feel like savers are suffering, and I feel the need to find more sources of income or to make riskier investments. I've also started to put money into tech stocks this past month.

Assets:
Cash in regular/TFSA HISA accounts, a chunk sitting in Questrade TFSA account as cash - $84.1k
TFSA investments - $22.2k
RRSP/ DCF Pension (combination of TD E-series, ETFs, bank stocks) - $177.4k
Car (estimate) - $2K
Home equity - $208.6k

Liabilities:
Credit card (paid off in full every month) - $1.9k
Future taxes from RRSP income - $39k

Net worth in December: $397.1k (understated in the last post)
Net worth in January: $404.7k (+$7.6k)
Net worth in March: $405.8k ($1.1k)
Net worth in April: $420.4k (+$14.6k)
Net worth in May: $431.3k (+$10.9k)
Net worth in June: $432.2k (+$0.9k)
Net worth in July: $445.7k (+13.5k)
Net worth in August: $453.2k (+7.5k)
 
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