Wednesday, March 20, 2019

Neighbor Joe - Passive Income March 2019 - $2,308/Year

Here is my latest passive income updates. I have reshuffle my portfolio to be more defensive, dividends and blue chip stock focus. I won't write out the details of my portfolio but will just provide a screenshot of my income page from my investment account.



My account is setup for DRIP, which means that dividends if possible are reinvested for addition share of that company. For example, every quarter, the dividend from Fortis (TSE:FTS) buys me two additional share of Fortis. If you want to learn more about DRIP, check out my post here.

November 2019 ($1704/Year):
http://www.slowlybutwealthy.com/2018/11/neighbor-joe-passive-income-november.html 

February 2018 (1577/Year):
http://www.slowlybutwealthy.com/2018/02/neighbour-joe-february-2018-157733year.html

December 2017 ($1463/Year):
http://www.slowlybutwealthy.com/2017/12/neighbor-joe-passive-income-update.html 

Original Post ($1024/Year):
http://www.slowlybutwealthy.com/2017/10/neighbor-joe-passive-income-1024year.html

Tuesday, March 12, 2019

Neighbour Joe - March 2019 Net Worth

Here is my latest and greatest net-worth update as of today 13 March 2019.

Asset
Chequing: $1,146
Savings: $1,005
TFSA Investment: $84,830 (Market Value)
RESP:$1,304 (Market Value)
**Real Estate: $224,000 (Purchase Price of my house)
**Define Benefit Work Pension (Transfer Value): ~$153,000 (Last checked in Jul 2017,aprox $1000 a month of contribution)

*Automobile is not included (No monthly car payment)
**These have not been updated since the start of this blog.

Liabilities
Mortgage: $121,764

*Credit Card is paid in full every month

Last Net Worth Update: $336,139
Current Net Worth: $342,217(+1.8%)

As you can since, in comparison to last month's breakdown, I have shifted focus from paying down my mortgage to max out my TFSA. Also, since I have recently opened a DIY RESP, I'll putting a post together later this month to give some simple advice on RESP. I'll also be providing an update on my passive income as I have recently shuffle up my portfolio to focus more on defensive stock. Here was my last passive income update.

Monday, February 4, 2019

Neighbour Joe - February 2019 Net Worth

Here is my latest and greatest net-worth update.

Asset
Chequing: $1,669
TFSA Investment: $78,528 (Market Value)
RESP:$1050 (Market Value)
Real Estate: $224,000 (Purchase Price of my house)
Define Benefit Work Pension (Transfer Value): ~$153,000 (Last checked in Jul 2017,aprox $1000 a month of contribution)

*Automobile is not included (No monthly car payment)

Liabilities
Mortgage: $122,113

*Credit Card is paid in full every month

Last Net Worth Update: $330,549
Current Net Worth: $336,139

A year ago, I posted my net worth updates, my net worth at that time was $309,498.04. Therefore in a year, I was able to increase my net worth by $26,641 which translate to about an 8% increases. Not a significant increase but still an increase regardless.

Monday, January 28, 2019

2019 Financial Goal

Picture from my trip to Mt Kilimanjaro in 2015
Today I am going to share with you my financial goal for 2019, maybe you can copy my goal or use this post to inspire your own financial goal. I've been reading a lot of books, article, and web pages on personal finance the more I am moving away from dumping all extra money into my mortgage. Therefore, in 2019, my financial goal is to max out my contribution room in both mines and my wife's TFSA and contribute the max amount for RESP to get the full government grant. I think I have about $10,000 of contribution room and my wife about $20,000. For those that don't know, you can check how much contribution room you have by logging into your CRA account at https://www.canada.ca/en/revenue-agency.html.

While we are on the top of goal setting, there is an acronym that you can use for goal setting. SMART, it stands for: Specific, Measurable, Achievable, Realistic, and Timely. Another way you can approach goal setting is just with the five simple W's. It's been proven that a lot of new year resolutions fail because people are just not good at setting goals. If your goal is to invest more this year then specify how much more, this way you have a measurable end result.