June 14 / 2014 : Updated every mid month
Home 2014 assessed value total $1,190,000
Tax free saving account TFSA - $33,850
Retirement saving plan RSP - $98,853
Canadian margin account - $137,668
US margin account ( Ex Rate 1.0851)- $168,837
margin available $214,674.21
margin available $214,674.21
Warehouse Income property 2014 assessed value
Chequing account $1,928
Business account ( brewery startup money)
June 2014 Grand Total Net Worth: 2,105,897
May 2014 : $2,102,732 Details link
Total investments and cash available $915.897
Total non-income fixed assets (home ) $1,190,000
Net Worth Ratio
43.4% Investments and cash
56.6% Fixed Assets
-Warehouse commercial property Income
$1,912 a month minus $678 expenses ( maintenance,tax) = Per month: $1,234 Yield on assessed value: 3.85% Total year profits :$14,808
-Equities market value :439,208 Forward Monthly dividends Avg: $1,213
-Average Forward Yield On Market Value : 3.31%
Total Forwards dividends yearly $14,556
Grand Total Passive Forward Yearly Income : $29,364
Per month average total : $2,447
Overall I am happy to be headed in the right direction as the last few years I haven't been. I don't expect large increases from month to month but hopefully a modest rising trend as I plan to keep my expenses low and reinvest my retained passive income. I should be able to retain at least 70% of my passive income on average each month which is equal to about $1700 of capital I plan to further inject into my equity investments every month. I do not foresee any large costs on the horizon other than my brewery startup and corresponding lawyer fees with it. Hopefully the markets continue upward and my plan of operation snowball my money into a billion is still intact.
Several factors have contributed to my June net worth.
-Market was generally up. My large APPL investment of 100 shares split to 7-1 to 700 and has been continuing to run up. It is about 15% of my portfolio weight which I feel is crazy high. I may start to trim down my position once I see $100-105 in post split price and balance out more my US portfolio. I am confident they will have a good run to at least the end of the year especially with iPhone 6 orders. Their Iphone 6 is slated to have a larger screen which was a major gripe with users as Android phones dominated the larger screen market. This pent up demand for a larger screen iPhone I believe will do gangbusters as their best initial launch phone to date. I for one am waiting on one. Apple plans on releasing a new product category and many are speculating it could be an IWatch. To me it is quite niche and the success of it will be dependent on its capabilities and more importantly price point. If successful it will spawn a revolution but if it proves to be a dud it will fall to the wayside like Samsungs current offering. I am guessing the latter but no doubt the Iwatch will receive that initial pop.
-Dividends have started flowing in for May $531.13 and so far in June of $332.60. Much more to come in June as many end of the month payers coming in. I have missed a few ex-div dates that pay this month so I am not fully efficient yet here but almost.
-Reduction of bills. I have really been watching and keeping track of my expenses and trying to live more frugally. I have cut down my internet and TV bill this month by cutting out unneeded services. I also cut down my cell phone bill a month prior by switching to a new provider
-Ebay. I have begun selling a few items I no longer require around the house and hopefully it will start adding up. Its remarkable how much stuff I have I do not use or care about anymore. Hopefully it will add up so I can buy some more stocks.
-Expenses. I had a few high bills this month primarily my Income property tax of $5800. Pretty frickin high for a property only worth $384,000 if you ask me. But you gotta pay the tax man! Also payed for yearly medical fees. It all adds up I tell ya.
-My income property rental. Turns out my tenants in my commercial warehouse rental were running some sort of high stakes poker game and got robbed! LOL The drama! The police got involved and needless to say I am finding new tenants. Problem is lease rates are down which my yield will go down. I have since found some new stable tenants for the next month. Overall my rent cheques will be going down from $2100 to about $1920 a month of a difference of $180 which kinda sucks. The projected yield of the property will be about 3.85% at its current accessed value of $384k. I have had the place listed for sale at 380k but is a soft market right now for identical places selling for about 350k so I took mine off. I plan on holding the property for another year and then re-evaluating whether to hold or sell then.
-Currency Exchange. I lost about $2000 in currency exchange fees from converting Canadian dollars to American in my trading accounts over time. It was a detail I overlooked initially as I didn't think much of it at the time of micro transactions. Lesson to be learned. I have since read up on ways to not pay crazy high exchange fees and will probably go that route in the future with larger transactions.
-It basically involves buying Horizons Us dollar ETF DLR in Canadian dollars. From there you call your broker and have them journal it over into you US account which will show up as DLR.U. This whole process can take up to 3 days while the trades settle and your cost would be only the two trades you would have to make so $20 or under. Also if the process takes 3 days you will be subject to currency fluctuations good or bad. Overall it is a great worthwhile method if you are doing large currency conversions from account to account.
To better explain everything here is a Moneysense magazine article on this
Moneysernse Norbits gambit
- Lawyer Fees Incoming- I will be incurring some lawyer fees in the near future as there were some costs with setting up everything for the brewery startup I will be investing in. Theses costs include professional counsel, my numbered company maintenance , bringing my holding company up to date and filing. I have budgeted this total amount to be around 5k and it could run hopefully way under that. Crosses fingers :)
-Unrelated Note- Somebody keyed my wife's SUV all the way around. Man this makes me upset. What kind of punk destroys anothers property like this. We have been racking our brains on how why and where this happened. It is not super noticeable but its there. Might be able to buff it out. We will see. I really don't want to pay for a $500 deductible to get the whole thing repainted and a claim on our insurance. Grrrrrrr.
Special Thanks to Dividend Mantra for mentioning my post on his blog as it has has driven quite a bit of new traffic on to my noobie blog. Don't bother reading my blog without reading his first as he is my master! As a token of my gratitude for his generosity I bought him a beer and hopefully he returns the bottle for deposit lol. Catch him here at http://www.dividendmantra.com/
Special Thanks to Rockstar Finance for adding me to their net worth page. I currently hold the number one spot but I know there are many other bloggers out their with a higher net worth but are just shy or private about posting it. I don't anticipate being on top for long as many new people signing up and people with much higher growth rates than I. Catch them at http://rockstarfinance.com/blogger-net-worths/
Special Thanks for all the readers and replies on the board. Much more than I anticipated! I really appreciate the constructive replies as I am slowly learning about blogging. Recently I took down all my kool pictures because of copyright laws I was unaware of. Silly mistake by me and thanks to those that pointed it out to me. I will start taking my own pictures soon enough. What free use image sites do you guys use? Everything here is still a work in progress so things will change accordingly with trial and error.
I am heading out with the family for a couple days on Sunday for a lil getaway. I think I may need a computer detox for a couple days as my family misses me lol.