June 2015 Net Worth Update

June 2015 Net Worth Update

Last month I didn’t post a net worth update – again, I was struggling with sharing this info and unsure whether it was useful to you, the readers.

Ultimately, I figured that if it’s helpful to even one reader out there it’s absolutely worthwhile.

Greece Lighting

My investments took a 3% dip down in market value during the month due to the Greek financial crisis. Thanks to some savings contributions my overall portfolio was held at par.

I was happy to kick in some extra cash during the dip down, and would be fine if the market kept going in the direction over the next few months/years as these are peak times for me to save and contribute.

Wedding Bells

Last May I got engaged! Mrs. (soon to be) Wealth Brick Road and I are going through the process of planning out the wedding, which is scheduled for next year.

There’s still lots of planning and work to come yet, but so far so good!

Financial Goal Update

I’ve been humming along trying to hit my goals for 2015. Here’s where I’m at:

  • Max Out TFSA – The Canadian government increased the TFSA contribution limit for 2015 to $10,000 (previously $5,500). While that required an additional $4,500 to max out my account, I was stoked to have the extra room for my investments to grow tax-free. I’m currently $2,900 away from maxing out the total $41,000 TFSA contribution limit.
  • Save 45% of Gross Income – I’m currently running at 46.7%. However, this includes my contribution matching my work offers. Without this contribution I’m at 41.6%, which is not bad, but still short of the target. I’m hoping to get that figure up in the remaining 6 months of the year.
  • Earn $5k in side Hustles – I earned very little in the first two quarters of this year despite putting in extra time on evenings and weekends towards side projects. I’ve earned just over $1,100, which is way off the mark, however, I’m not too bothered given the other rewards I’ve received. I’m going to keep this goal and continue to work towards it for the remainder of the year, but understanding the money is really secondary, or thirdary (that should really be a word…)
  • Donate $500 to Charity – I’ve currently donated $280 to various causes this year. This has been the most emotionally gratifying of all my goals and I’m not just saying that to earn brownie points. As an accountant my mind is often geared towards being tight with my wallet and this goal has been a great exercise in perspective. It’s nice to have this money set aside in my personal budget so I can give without worry.

Below is my net worth report:

june 2015 net worth

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  1. 2.2% net worth increase in a month is pretty solid given the flattish/downish market. Most bloggers I’ve seen this month are flat to down by a point or two. I’m up like a point, but that’s mostly due to some tax returns I didn’t expect.

    What are you going to do to make $3,900 in side hustles in six months? Or is your goal shot?

    Retire29 recently posted…Question to Stay-At-Home-Parents: Are Two Incomes Really Better Than One?My Profile

    • Jonny

      Hey Eric,

      Ya, June was not the kindest of returns, but after a couple years of overall market gains I’m fine with some turbulence over the next few years.
      The goal isn’t completely shot just yet. I do some accounting work for some small businesses on the side that could get me to the target yet. Haha, I guess if I was really driven I’d finally sell that foosball table sitting in the basement collecting dust!

  2. Congrats on getting engaged! That is awesome. I think tracking your net worth online can be useful and inspiring to other readers but on top of that, at least for me, by posting it online, I find that it really motivates me more to increase it. I feel that I make smarter decisions because Im posting out for the whole world to see you know!?
    Alexander @ Cash Flow Diaries recently posted…10 Must Have Traits Needed to Achieve SuccessMy Profile

    • Jonny

      Hey Alexander – thanks for the comment!
      Haha, yes I know I certainly question if I really need to buy that premium case of beer knowing I’ll have to report to the blog at the end of the month!
      Had a blast looking through your blog and felt it had a real original feel to it.
      Thanks for droppin’ by!

  3. Congrats on the engagement. Planning a wedding can be quite simple if you keep the wedding simple. Solid net worth increase considering the market volatility lately.
    Tawcan recently posted…Dividend Income – June 2015 updateMy Profile

    • Jonny

      Thanks Tawcan – June wasn’t a great month for gains, and it’s looking like July will be more of the same so far!
      So long as those dividends keep growing I’ll be happy.
      I checked out your blog and like the tone you set there.
      Thanks for dropping by and I’ll be sure to keep in touch!

  4. Congrats on the wedding and great job this month!

    I am excited to start tracking my net worth once I close on the house I bought next week. It is certainly an exciting time for me, but my finances are kind of out of whack due to closing.

    How has your goal of paying down the mortgage been going? Do you think that as interest rates rise, investors will not look to pay down their mortgage as fast due to being able to realize a higher yield in other areas of the market?

    Thanks for the article and have a good day,
    Erik recently posted…Post-Rate Hike InvestingMy Profile

    • Jonny

      Hey, thanks Erik.

      Haha, I hear you on the craziness of personal finance once you throw a house into the equation. Congrats on the new house!

      I’ve completed about half my goal for my additional mortgage payments this year, but you raise an interesting point about choosing between investing and paying down the mortgage. It sounds like they may even reduce rates further in Canada, which would make my mortgage even cheaper! I don’t think I’ll stray too much from my original goal, as I’m pretty happy with the balance I have. However, come next year I may look at reducing the amount I put down on the mortgage.

      Thanks for the thoughtful comment!

  5. Congrats on getting engaged. I’ve recently become a new reader and appreciate posts like this. Also, your comment on how your giving to charity helps improve your perspective is very underrated. I thought about more of that subject because of it. Good work.

    • Jonny

      Thanks Brian – it’s great to have someone other than my mom reading the blog!
      Ya, in the past I noticed I had a hard time giving because I was so focused on saving for a car, or house or whatever…but that will always be the case. I’ve definitely enjoyed spending money on donations more than some of the stupid crap I bought in my earlier days!
      Really appreciate the comment!

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