Sunday, September 25, 2022

Net Worth Update - June 24 2022

Today is September 24, 2022. 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 currently into 3 segments. The 3 parts are a "high" interest savings account, savings account, and an "investment" savings account.

The TFSA savings account was with Tangerine. I was frustrated with getting such a low interest rate with Tangerine. I took the money out and placed it in non-registered high interest rate savings account with EQ Bank. Unfortunately, the account did not disappear as interest was earned in the TFSA with Tangerine for the month I transferred the balance. The balance is $0.18. With a value this low, I do not even earn interest as the balance so low.  

On September 24
, 2022, the value of the savings account with EQ Bank is $1286.17.  As of the time of this writing, the interest rate for EQ Bank is currently sitting at 2.00%. 

The stock and ETF investment involves a stock and an ETF that I hold within my margin account. I keep the dividends and distributions received separate from the dividends I post in my dividend income updates.

There were a few new purchases in this account since last published update on June 25, 2022.

On July 5, I purchased 2 units of ZWC at $17.55 for a total cost of $35.11 including commissions.  The ETF currently has a monthly distribution of $0.10 per unit.  The yield on cost for this purchase is 6.84%.

On Sept 1, I purchased 6 units of ZWC at $17.48 for a total cost of $104.90 including commissions.  The monthly distribution remained unchanged.  The yield on cost for this purchase is 6.86%.

On Sept 23, I purchased 3 units of ZWC at $17.36 for a total cost of $52.09 including commissions. The monthly distribution remained unchanged at $0.10 per unit.   The yield on cost for this purchased is 6.91%.

 I own 100 units of Bank of Montreal's  Canadian High Dividend Covered Call ETF (ZWC.TO).  I received a total of $177.64 in total distributions as of September 24 2022.

I own 41 units of Transalta Renewables (ticker symbol  RNW.TO).  Transalta Renewables pays a monthly dividend of $0.07833 per share.  I received a total of $38.52 in total dividends as of September 24, 2022.

On September 24, 2022 , the current value of this "stock / ETF account" is $2274.99.  I have earned a total of $305.57 in total dividends/distributions in this account. 

Overall, the savings total is $3561.34 

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 $120066.16 as of September 24, 2022. This is an increase of 7.25% since the last published net worth post.


TFSA Investing Account

The TFSA investing account balance is $61629.06 as of September 24, 2022. This account is with Questrade. This is an increase of 6.67% since the last published net worth post.

Trading Account

The trading account is with Questrade. There is an active trade on in this account as of the time of this writing. As of September 24, the value of this account is $4918.64.

RRSP

I have transferred my RRSP from Tangerine to Questrade in April 2020. While at Tangerine, the RRSP was in the form of a "high" interest savings account. Now at Questrade, I decided to put the money to work.

As of September 24, 2022, I own 21 shares of CP Rail (Ticker Symbol  CP.TO) , 110 units of XAW, and 49 shares of Alimentation Couche-Tard  (ATD.B.TO).   I sold covered calls on the CP Rail position, and 100 shares were assigned recently.    

The value of this account as of September 24, 2022 is $17737.27
. This is an increase of 4.31% from June 25, 2022.

Summary of Assets

Total Savings : $3561.34
Non-Registered accounts : $120066.16
TFSA Investing : $61629.06
Trading Account: $4918.64
RRSP Savings Account: $17737.27

Total Assets = $207912.47 (increase of 7.43% from 3 months ago)

Liabilities

The balance on my line of credit is $0.00

The owe $2157.72 CAD in my margin account.  The margin is in the Canadian dollar account within my margin account in Questrade.  The USD account in Questrade has a positive cash balance.

Summary of Liabilities

Credit Line = $0.00
Margin = $2157.72

Total Liabilities = $2157.72

Conclusion

On September 24, 2022, my net worth is $205754.75. This is an increase of $13723.00, or 7.15%, from 3 months ago.


The market continues to go up and down. During the last 3 months, we have seen the rise of inflation and the fears of a recession take hold. 


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To read the eighth net worth update, click here.  

To read the ninth net worth update, click here.

To read the tenth net worth update, click here

To read the eleventh net worth update, click here

Disclosure: - Long all aforementioned stocks
  

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.

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