In Budget Roundups, Money

August 2018: The Net Worth and Investments

Sherry’s August 2018 Net Worth

$782,961.80
Or an increase of…
+$40,263.92 or +5.14%

In the past TWO months alone, my net worth has gone up by $100K

This is surreal. I have to keep checking my numbers because I sort of don’t believe them.

$100K net worth gain in 2 months? WHAAAAAAAT??????

I think this koala says it all:

And over the past year it has steadily gone up (and REALLY up in the past 2 months), so I’m pretty dang happy:

Oh and everyone….

I am now a three-quarters millionaire!

I’ve already hit my original YEAR END goal of $750,000 so I will aim for $850,000 now.


If we just take straight income, I should be around a net worth of $850,000 by the end of the year, but give or take stock returns, I don’t want to say something more and end up being disappointed, you know?

But the way things are going, I wouldn’t put it past hitting $900,000 this year. *secretly hopes and wishes*

This is bananas to me, really, how much I have earned over the years and accumulated as a net worth.

I’m really quite proud of myself. Even with all of my spending, my guilty harping about this and that… I’ve done well.

(If only I drank! But in lieu of that, I shall go for a massage & a pedicure.)

But you know what.. I just realized that by the end of the year, I would technically be only $150,000 off from being a millionaire…. in my own right.

(My partner is already past this mark.)

CAN YOU BELIEVE THIS!?!?!?!?!

By next year, I could be a millionaire by the time I’m 35. That is … unbelievable.

Just.. Wow. Then it’s time to aim for the second million, personal million.

You know what they say.. a million is a start to a billion… LOL

Who knows how the future will turn out? Right now, it’s looking pretty good. Remind me of this when I start bitchin’ about life, okay?

Little Bun’s August 2018 Net Worth
$27,381.16
Or an decrease of…
+$1305.45 or +4.77%

This is how I invest his money in the stock market…. but the drop in his net worth this month is NOT 100% due to the investments, it is because the government clawed back money because his parents make too much, and they re-assessed everything. *eye roll*

Poor Little Bun. <3

It isn’t his fault. It’s ours for making so much money.

That’s okay, Daddy will retire soon, stop making money, and then he’ll be in good shape. 😛

DIVIDENDS FOR THE PREVIOUS MONTH

$408.19

I am working on this, but you know.. need money saved first, before I can invest it to make more $$$$.

I need to spend time on this. I need a weekend where I just sit down and go through my accumulating list of stocks and research them intensely.

I have about $20,000 earmarked for this by the end of the year. Maybe a bit more.

The plan as a freelancer is to ALWAYS near the end of a contract, about 3 months off, to STOCKPILE CASH like a mofo, so that you don’t have to (like I did), sell off investments in desperate need of living $$$.

So. This means until I get any confirmation (if at all) that I am coming back for the next little while and am extended, I will NOT be plowing any more into the stock market until the papers are signed.

And then, bam, I’ll drop another $20,000 at a minimum into my dividend plans, upwards to $50,000. I haven’t decided yet what the final amount is.

LENDING LOOP INVESTING FOR CANADIANS

This is my new FOURTH stream of income.

What are the 4 in total you ask?

  1. Day Job – Primary source of $$ about $230K / year
  2. Blog – Secondary ~$12K / year
  3. Dividends – $5000 / year
  4. Lending LoopHELLO THERE!

It is dead easy to sign up and move funds to Lending Loop (<— Psst! Referral code = $25 for you $25 for me, easy peasy).

Minimum to invest:

You need to put in AT LEAST $200.

Riskiness?

FYI — It is definitely riskier than the stock market – you are investing in INDIVIDUALS or individual businesses, but it doesn’t hurt, although I would not put the family piggy bank into just this income stream, I’d say start off with a small modest amount you are comfortable with losing (so to speak), and give it a try.

How it works

Then you just look at the different investments people want you to fund, and how much they will pay in interest. It’s pretty simple.

https://www.lendingloop.ca/?code=7b03f0

You click on View, you commit an amount you want to send to them, and it’s done.

How much I have invested

$1200 so far. I am putting in a max of $10,000 and letting the money ride. 🙂

Interested? You should be.

My Lending Loop Referral here for $25 for you and $25 for me … yep. FREE MONEY. $25 in FREE MONEY.


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Sherry of Save. Spend. Splurge.

Millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. Since then, I have paid my $600K home in cash (my half was $300K), my $180K casr in cash, worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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6 Comments

  1. GYM

    Wooooooo that’s awesome! Keep up the great work!!

    I am over $800K if I include my pension contributions but I don’t count that. I thought you were older than me but I think I am older than you haha!! 🙂

    I’ve always been interested in lending loop- how much has your return been so far?

    Reply
    1. Sherry of Save. Spend. Splurge.

      Pension contributions? You mean the ones by your employer??

      So far I only just started, it is 8%…

      Reply
  2. Vnss

    Hi SSS,

    Longtime reader (lurker) and have been loving your blog since the days of Fabulously Broke.
    I’ve recently moved my RRSP from a fund manager to Questrade…but now I’m not sure what to do with it… Ideally looking to do a 60/40 or a 70/30 mix of EFTs + dividend investing…still have some research to do on this front, but anyway – was hoping you could share a bit more about your dividend investing strategy. Canadian/US/Int’l stocks? TFSA/RRSP/taxable account? Anything you’re willing/able to share would be super helpful – thanks!

    Oh, and part of my move was inspired by your investing tool + like a boss package, so thanks!

    V

    Reply
    1. Sherry of Save. Spend. Splurge.

      Yes. You know what, I was going to email you but then I realized this is a useful comment for others.

      In general, I stick dividends in my margin account FIRST just because the taxes are so low.

      But if I have room in my TFSA, that is where I put it to top up the account, but I always try to put dividends in my Margin account first over any others, because the taxes you pay on dividends are far more favourable than anywhere else (which is to say, low although in recent years the tax agency has been raising the rates on dividends…. ugh …).

      You can make up to $50K in dividends and pay about $200 in taxes a year, but I’d have to redo the math for when I actually want to live off only dividend income because I am sure the tax rules will not be as favourable by then. You can do your research on this on TaxTips.ca

      Also, with dividend investing, I am not looking only at dividend yield. I am also looking for long term gain, such as capital gain…. I want the stock to do well AND pay me money.

      Capital gains tax by the way, is only on 50% of the gain.. meaning you earn $10,000 in capital gains, you only pay taxes on $5000 of those gains. That’s pretty sweet. You can stick that in a margin account and it would be quite favourable tax-wise.

      For anything that is U.S.-based, you SHOULD put it in your RRSP. We have a tax treaty with the U.S. with registered tax accounts and for Americans, only the 401K counts to hold Canadian stocks and NOT pay taxes on the dividends, and for Canadians, it is in the RRSP that is the recognized “tax treaty registered retirement vehicle” where we do not pay taxes on U.S. dividends.

      ALL my USD$ and US holdings are in my RRSP. No exceptions, and all as ETFs.

      Let’s see.. that’s about the gist of it. Let me know if you have any more questions.

      Reply
      1. Vnss

        This is super helpful, thank you.

        So for someone like me who hasn’t yet maxed out either RRSP or TFSA – but working on it – I feel like all my Canadian dividends (or whatever equity stocks I want to play with) should go in the TFSA, hopefully allowing them to grow tax-free. And everything US + Int’l = RRSP. Then when these registered accounts are maxed, figure out a way to work in the margin account in a tax effective way.

        I think reading your response also gave me an aha moment, where I was originally thinking of treating my TFSA as one portfolio with it’s own allocation and my RRSP with yet another allocation, but what I should really be doing is treating my WHOLE portfolio as ONE and allocating specific holdings into them depending on what’s best from a tax perspective. Don’t ask why I hadn’t considered it like that before…

        Am I getting that right?

        Again, thanks again for your help (and the links), super helpful!

        Reply
        1. Sherry of Save. Spend. Splurge.

          Yes. Look at all of your investments as one big pool and then allocate certain holdings to gain the most from a tax benefit.

          EXACTLY!

          And I would always suggest maxing out your TFSA first. I like it because it is easier to max out, but also because it grows tax free and in case you EVER need the money in a pinch (like I have a few times), you drain it.

          The RRSP is full of rules to withdraw money (you can, but you pay taxes, plus a 10% withdrawal penalty.. ugh), and it is not as versatile or as flexible.

          As a general rule, TFSA rules unless you have U.S. holdings which should go in your RRSP. International ones don’t matter as much where you throw it — it will not be sheltered in the RRSP…

          RRSP = Long LONG term, like 40 years into the future. Stuff you do NOT want to sell like ETFs, especially ones with U.S. stocks.

          Reply

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