May 2020 Net Worth

Net WorthF

 

Hello and welcome to my May net worth post. I’m in a better mood writing this month’s post compared to the last one. In April we saw the stock market start to make a comeback from it’s terrible March despite the fact the number of COVID-19 cases and deaths continue to rise, and everywhere still in lockdown. One reason for the rise I believe is we are now starting to see countries starting to ease the lockdowns in their countries or announce different phases to their re-opening. With someone who has close to 70% of their net worth tied up in the market this was nice to see. My net worth rose 6.8% in the month.

Cash & Savings ($5,608.26) + $723.18 

RBC

April May Change
Cash $131.20 $4.00 -$127.20
Emergency Fund $2,000.00 $2,000.00 $0.00
Total $2,131.20 $2,004.00 -$127.20

EQ Bank

April May Change
Yearly Bills $538.78 $782.43 $243.65
Car Fund $1,084.03 $1,286.84 $202.81
Travel Fund $1,051.26 $1,254.02 $202.76
Future Housing $79.81 $280.97 $201.16
Total $2,753.88 $3,604.26 $850.38

This month I did not withdraw any funds from these accounts like I did the previous one. I was almost able to deposit $1,000 combined into them and hope to continue this in May.  At EQ Bank they offer a 2% interest rate on deposits, for the month I was able to earn $4.95 in interest.

Investments ($173,093.51) + $9,584.29

April May Change
RRSP (RBC) $105,871.66 $110,806.53 $4,934.87
TFSA $52,716.20 $57,101.11 $4,384.91
LIRA $4,748.02 $4,996.92 $248.90
RRSP (WST) $173.34 $188.95 $15.61
Total $163,509.22 $173,093.51 $9,584.29

(WST = Wealthsimple Trade)

Positive month for my investments, all of the accounts saw their values go up. I think I realized when I looked at the numbers I forgot to invest money into my RRSP at Wealthsimple for April I will need to correct this in May and start my bi-weekly contributions again. With the rise of the stock market I didn’t make many stock purchases, I’m sitting on about $4,700 in cash in my TFSA account to invest at a later date.

Liabilities ($7,900)  -$700

Back in March I borrowed $10,000 and put that money into the stock market. So far I have paid back $2,100. The current plan is to pay off $700 a month until the loan is paid off.

Net Worth

Going into May my net worth sits at $170,801.77 up 6.8% from April’s total.

May 20Net Worth

Thanks for reading!

Matthew

2 thoughts on “May 2020 Net Worth

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