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