Not So Special
Around this time last month I proclaimed that I had a million dollar in assets. At first I was really happy about my situation because I thought I was unique. 🙂 But as it turns out, a million dollars isn’t all that impressive in my neck of the woods.
I live in Metro Vancouver on the west coast of Canada. And according to Environics Analytics, the average net worth of Metro Vancouver households rose 7.1% last year in 2015 to reach $1,036,202. Yowzah! 😲
This means I’m only average. Le sigh. 😞 Lol. Actually, I’m even poorer than average because my household net worth is only about half as much as the average around here. I guess I’m not the special snowflake I thought I was, haha.
Rising real estate values have pushed the average net worth of Metro Vancouver households up over $1 million, making it Canada’s first “city of millionaires,” according to a study. ~ CBC article.
According to the CMHC, single women have greatly contributed to the rising cost of homeownership in Canada. Thanks ladies. 😉 A report released last week by Swiss bank UBS said Vancouver is at greatest risk of a housing bubble in the world. But I don’t think that’s true. Property prices here are high, but still affordable for most people.
September was a pretty good month overall. There were no surprises. The market did fall into the red early on. But around the 3rd week of the month stocks began to rally again as investors grew more confident over the Federal Reserve’s sentiment to keep interest rates lower for longer. In the end, the markets finished the month pretty much flat.
I managed to lower my interest rate expense from $1300 per month, to $1200 per month by switching my margin account from TD to IB.
Liquid’s Financial Update
- Part-Time = $800
- Freelance = $900
- Dividends = $600
- Interest = $0
- Fun = $400
- Debt Interest = $1200
*Net Worth: (MoM)
- Assets: = $1,012,400 total (+6,200)
- Cash = $14,900 (+2800)
- Stocks CDN =$122,400 (+1500)
- Stocks US = $74,600 (+1700)
- RRSP = $71,600 (+100)
- Mortgage Funds = $26,300
- Venture Capital = $6,600 (+100)
- Home = $263,000
- Farms = $433,000
- Debts: = $474,900 total (-1,100)
- Mortgage = $186,900 (-400)
- Farm Loans = $193,400 (-500)
- Margin Loan CDN = $28,300
- Margin Loan US = $25,700 (+100)
- TD Line of Credit = $13,700 (-200)
- CIBC Line of Credit = $9,500
- HELOC = $17,400 (-100)
*Total Net Worth = $537,500 (+$7,300 / +1.38%)
All numbers above are in $CDN. Conversion rate used: 1.00 CAD = 0.76 USD
Looking ahead, October is when I receive my rental income from my tenant which is worth about $4,500. So I’m looking forward to deposit that and maybe buy some new investments with the money. 🙂
Random Useless Fact: