Net Worth Update

Today is Christmas Eve 2019.  Although passive income through dividends and option premiums is my focus when it comes to investing, I decide to do a post about my current net worth.

What is net worth? Simply put, net worth is calculated by adding up all assets and subtracting the total of all liabilities.  Net worth is sometimes referred to as shareholder's equity.  Assets and liabilities are part of the balance sheet. 

Assets

Savings

The savings section is broken into 3 segments. This is a taxable high interest savings account, a TFSA savings accounts and a stock investment.

The taxable high interest savings acount, in which the interest rate is laughable, is with Tangerine.  Tangerine is an online bank, that is owned by Bank of Nova Scotia.  On December 24, the value of this account is $496.79.  The current interest rate is 1.1%.

The TFSA savings account is also with Tangerine.  On December 24, the value of this account is $1046.47.  The current interest rate, like immediately above, is 1.1%. I have no put money in this account in a while.

The stock investment involves a stock that I hold within my margin account.  I keep the dividends received separate from the dividends I post in my dividend income updates.  The stock is Inter Pipeline.  The ticker symbol is IPL and trades on the Toronto Stock Exchange.  I own 42 shares with an adjusted cost base of $901.80.  The cash not including dividends is $10.36.  I received a total of $41.93 in dividends since starting this position.  On December 24, the current value of this "account" is $1007.79.  I have not added any money to this account.

Overall, the savings total is $2551.05.

Non-registered Accounts

The non-registered accounts consist of a margin account and 2 stocks held directly with the transfer agents.  The margin account is with Questrade.  The total value is $92439.79 as of December 24.

TFSA Investing Account

The TFSA investing account balance is $37860.96 as of December 24.  This account is with Questrade.

Trading Account

The trading account is with Questrade.  This is done within my margin account.  I keep track of the balance, market value and cost basis of the trades. I only have one trade going on at a time. As of December 24, the value of this account is $3588.18.

RRSP

My RRSP is with Tangerine.  I held their funds for a while and eventually sold the funds.  Therefore, the RRSP is basically in a savings account.  On December 24, the balance is $11995.93.  The interest on this account is 1.1%.  I am not sure what I am going to do with account.  Ideally, I would transfer it to a brokerage and to buy stock or ETF positions.  I might also take it out to pay of line of credit.  

The current state of the Alberta economy is why I am hesitant in doing anything with this account.  Alberta's economy is highly dependent on oil and gas production and oilfield services.  When these are doing well there are a lot of spin off jobs involving restaurants, hotels, etc.  Currently, the province of 0Alberta is struggling while countries with oil and gas assets are doing well. 

Summary of Assets

Total Savings :  $2551.05
Non-Registered accounts : $92439.79
TFSA Investing :  $37860.96
Trading Account: $3588.18
RRSP Savings Account:  $11995.93

Total Assets = $148435.91

Liabilities

The balance on my line of credit is $6500.00.  Since I rent and do not have collateral, the interest rate on this account is 7.16%.  I get charge an insurance fee when carrying a balance.  This insurance fee depends on the balance, therefore it changes every month.  

Conclusion

On December 24, 2019, my net worth is $141935.91.  

Disclosure:  Long IPL

DISCLAIMER

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.