I saw my wealth shrink by $6500 this month. This is so exciting! If I wasn’t working 2 jobs I probably would have lost $10,000 this month. This shows me how fickle the economy can be sometimes, and how necessary my job is to me, and how far I still need to go to reach financial independence. The TSX Comp dipped to a 5 year low. My existing investments dropped 9% but overall, my entire portfolio only lost 3% of its value because of some last minute, additional stocks I bought last week. September’s Income was steady, and there was less discretionary spending than usual because I didn’t go out much. Details below…
*Dividend Income:
*Dividend Income:
- Discount Brokerage = $300
*Discretionary Spending:
- Eating Out = $100
- Others = $100
*Net Worth:
- Assets:
- Cash = $3,500 (+$300 MoM)
- Stocks = $49,700 (-$2,100 MoM)
- RRSP = $19,700(-$300 MoM)
- Home = $243,000
- Liabilities:
- Mortgage = $209,400 (-$400 MoM)
- LOC Balance = $7,000 (+$6000 MoM)
- Other Loans = $17,500 (-1,200 MoM)
Total Net Worth = $82,000 ( -7.34% MoM)
Funny how it was only last month that we saw record gold prices, but it’s fallen about 15% since then. We’re seeing some huge swings in the markets. But this can be good. Because it means that at some point in the future the markets will become more steady and investors will have more confidence, and when that happens stocks should definitely go higher. Buy low, sell high, and it’s pretty low right now which is why I’m a buyer! In fact, since I’ve invested all of my savings already, I borrowed $6000 from the bank earlier this month to invest. It’s a bit risky, but hopefully this leveraged investment will pay off in the near future.
* Numbers are rounded to the nearest $100.
I just had a look at my portfolio the other day and it got hit really bad too! I'm -10% in my TFSA portfolio (yowza).
Oh well, I'll try and buy more (esp. the dividend ones!).
Thanks for the comment. Good thing we're both still in our 20s. Times like these are just a small bump in the long road ahead.