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.
Thanks for reading!
Matthew
Good to see that uptick after the drop. Keep it up Matt
R2R
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Thanks buddy! It was good to see it rise however I’m expecting it to be choppy over the next few months and possibly years.
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