Net Worth Update – July 2017

Assets:

1Cash in Bank Account$8,273.9
2Investment Accounts$21,618.0
3Pension$15,785
4Lending Loop$1,022

Liabilities:

1
Student Loans$26,223
2Credit Cards$107

Net Worth:

Net Asset Worth$20,368.95


Summary:

  • USD-CAD exchange rate assumption: $1.20 CAD per USD.
    • I like to have a conservative estimate here, taking the commission costs and spread on exchange rates, I would usually assume the exchange rate for my net worth calculations to be at least 5 cents less than the prevailing market rates.
        • This is to ensure, I don’t get too ahead of myself.
        • I am not going to be selling any of the American equities and converting them to Canadian dollars any time soon.



    • Considering it is summer, I ended up spending a bit more than I would have liked to. I am going to keep an eye on this. At times ordering “good food” is my only guilty pleasure that I indulge in, however I need to make sure it does not get out of hand.
    • For the next few months I foresee some expenses, that I wouldn’t otherwise have incurred. They would be a one-time expense. More about that later.
    • Student Loans: I graduated with approximately $50k of student loans. I plan to have the remaining $26k of the balance paid off in 22 months from now.
      • The 22 months is a conservative estimate, my original plan is max of 19 months – Feb end 2019.
    • Cash in Bank Account: Ideally, I like to keep at least $5k of balance in my bank account.
      • Of late, I find it harder to spot an opportunity in the capital markets which is one reason as to why I have a high amounts of cash in Bank Accounts.
      • Also, I am done contributing to my TFSA as much as I would like to for the year.
      • I foresee some additional expenses coming up.
      • I am going to make a lump-sum payment towards the end of the year for the student loans.

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