4/20/2020

Must read personal finance books!

The question a lot of people, myself included, ask when they start their journey is, what are the must read personal finance books. Reading has been an essential part of my journey, and I will highly advice anyone trying to reach financial independent to try and read a book a month. Here is a list of books that I've personally read and will recommend for people that want to learn more about personal finance.

4/11/2020

Neighbour Joe - April 2020 Net Worth



Asset
Chequing: $300.00
TFSA Investment: $97,466.04
(Market Value)
RESP: $4,192.89 (Market Value)
Real Estate: $224,000 (Purchase Price of my house)

Real Estate Rental Property: $200,000 (Purchase Price of the house)
Define Benefit Work Pension (Transfer Value): ~$278,000(Last checked in December 2019)

*Automobile is not included (No monthly car payment)

Liabilities
Mortgage: $117,698.99

Rental Mortgage: $193,974.95
Line of Credit: $5,942.00
*Credit Card is paid in full every month


Current Net Worth: $486,342.99

Passive Income
TFSA Passive Income: $4,844.08/Year or $
403.67/Month 

So in the last month when the stock market was taking a hit, I took leverage up and took money from my line of credit to max out my TFSA contribution for this year. I  brought a lot of quality dividend stock such as Canadian Banks which is why my passive income has increased.

3/13/2020

Net Worth Update & Comments on Market


Here is my net worth update for both February and March 2020. My investment took a big hit due to the recent market downturn, but I was able to see all my Amazon shares at near the peak back in February. I have since put all those cash back into the market, picking up some stable blue-chip stock on the way down. 

There is a lot of fear and panic going on right now, my advice for those that are in the market is to stay put and look for opportunities to buy. There is currently a lot of good companies that are trading at a deep discount right now, some of these company have a good track record of safe and reliable dividends. As the saying goes, "Be greedy when others a fearful." 

1/14/2020

A money tree that gives you $1 a day.


As the saying goes, "What, Do you think money grows on trees?". Well, I am going to show you that money does grow on "trees" and how you can get your hands on such a tree. This idea came to me the other day when I was talking to my wife about the current materialistic culture that we lived in. She said people don't want to invest in stocks because they can't show off their investment. I started thinking, what if you can buy a tree that gives you $1 a day, how many people will buy such a tree and how much will it cost? I can't answer the first question, but I can roughly tell you how much it should cost.

1/06/2020

Neighbour Joe - January 2020 Net Worth



Photo by Jamie Street on Unsplash
Happy New Year, hopefully, you had a wonderful 2019. Here is my first net worth update for 2020.

Asset
Chequing: $271.34
TFSA Investment: $
105,801.22(Market Value)
RESP: $4,311.772 (Market Value)
Real Estate: $224,000 (Purchase Price of my house)

Real Estate Rental Property: $200,000 (Purchase Price of the house)
Define Benefit Work Pension (Transfer Value): ~$278,000(Last checked in December 2019)

*Automobile is not included (No monthly car payment)

Liabilities
Mortgage: $118,640

Rental Mortgage: $194,949

*Credit Card is paid in full every month


Current Net Worth: $498,741.33

Passive Income
TFSA Passive Income: $3,774.92/Year or $312.08/Month 


The biggest change here is my Work Pension value, I recently checked my transfer value and it has increased significantly, almost double from the last time I checked.