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.
Photo by Jamie Street on Unsplash
Happy New Year, hopefully, you had a wonderful 2019. Here is my first net worth update for 2020.
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)
Rental Mortgage: $194,949
*Credit Card is paid in full every month
Current Net Worth: $498,741.33
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.