A lot of money shuffling happened in the month of May and early June. Previously in May, I have around $15k in cash and saving. After doing a bit of planning, I’ve now reallocated the money into several form of investment. Below is a breakdown of my net worth of $37,565.85 (+22.5% from May) as of June 10. I still have around $5k in cash that I need to reallocate into a form of investment to gain some return from it. Some of it is currently in US dollar which I'll need to exchange them back to CAD using a low fee foreign exchange account such as XE or Canadian Forex.
I am moving more and more of my investment into index fund and ETF for the lower fee (pay yourself first). The RBC Canadian Index Fund is not the greatest option due to its 0.72% MER, I still want to keep my RBC banking account as a result of my small business banking account with them. TD bank e-Series is by far the best Index Fund to have due to it’s low MER. If you can purchase ETFs, go for something like the Vanguard Index ETF.
At my current investment allocation, I am very heavy on equity and majority of it is on corporate stock. This is due to some investment I made a few years ago on the Oil and Gas sector which haven’t recovered yet. My goal, however, is to re-balance my portfolio to have a higher percentage in Index Fund or ETF instead of directly in corporate stock to lower my risk once Oil and Gas recover a bit.
If I can maintain my saving pattern and achieve a rate of return around 7% annually in the long term, I should be on-track in achieving financial freedom within 15 years.
$932.42 - TD Chequing
$121.00 ($89.86 USD) - TD Chequing
$2,668.79 - RBC Chequing
$1,580.57 ($1173.79 USD) - Bank of America Chequing
$69.86 - Cash - TD Direct Investing TFSA (will go into an eSeries Index fund after I transfer some more money into the account.
$421.48 - PC Financial Saving
$18,531.29 - Equity (Corporate Stock) - TD Direct Investing TFSA
$5,110.00 - Equity (Corporate Stock) - Questrade TFSA
$4,489.35 - Fixed Income (Bond ETF) - TD Direct Investing TFSA - MER 0.13%
$3,074.29 - Canadian Index Fund - RBC TFSA Mutual Fund Account - MER 0.72%
$638.47 - US Equity Index Fund - Employer Pension Plan - MER 0.15%
$319.33 - Canada Equity Index Fund - Employer RRSP - MER 0.15%
~$500 - Credit Card Balance (Still within grace period)
Summary of Investment Allocation:
$23,641.29 (73.51%) - Direct Equity (Corporate Stock)
$3,393.62 (10.55%) - Canadian Equity Index - MER 0.67%
$638.47 (1.99%) - US Equity Index - MER 0.15%
$4,489.35 (13.96%) - Canadian Bond ETF - MER 0.13%