Today is June 22, 2024. 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 June 22, 2024, the value of the savings account with EQ Bank is $8675.38 . As of the time of this writing, the interest rate for EQ Bank is currently sitting at 2.50%. The interest rate is the same as 3 months ago.
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 June 22, 2024, the value of the savings account with EQ Bank is $8675.38 . As of the time of this writing, the interest rate for EQ Bank is currently sitting at 2.50%. The interest rate is the same as 3 months ago.
The stock and ETF investment involves one stock and cash 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.
Currently, do not own any ETFs in this account since the last update.
I own 200 shares of TransAlta (TA.TO) and cash.
On June 22, 2024 , the current value of this "stock / ETF /cash account" is $2972.36 . I have earned a total of $509.29 in total dividends/distributions in this account.
Overall, the savings total is $11647.92
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 $120534.41 as of June 22, 2024. This is an decrease of 5.86% since the last published net worth post.
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 $120534.41 as of June 22, 2024. This is an decrease of 5.86% since the last published net worth post.
TFSA Investing Account
The TFSA investing account balance is $102135.40 as of June 22, 2024. This account is with Questrade. This is an increase of 1.841% since the last published net worth post.
Trading Account
The trading account is with Questrade. There is an active trade on this account. I also have sold a covered call on this position, which is still active. As of June 22, 2024, the value of this account is $5642.73.
RRSP
As of June 22, 2024, I own 21 shares of CP Rail (Ticker Symbol CP.TO) , 144 units of XAW, 200 shares of Emera Inc (EMA.TO) and 49 shares of Alimentation Couche-Tard (ATD.B.TO)
I also own 52 units of CASH.TO.
I currently have a covered call on the Emera position.
The value of this account as of June 22, 2024 is $23574.93 . This is an decrease of 1.852% from March 24, 2024.
Summary of Assets
Total Savings : $11647.92
Non-Registered accounts : $120534.41
Total Savings : $11647.92
Non-Registered accounts : $120534.41
TFSA Investing : $102135.40
Trading Account: $5642.73
RRSP Savings Account: $23574.93
Total Assets = $263535.39 (decrease of 2.24% from 3 months ago)
Liabilities
The balance on my line of credit is $0.00.
Trading Account: $5642.73
RRSP Savings Account: $23574.93
Total Assets = $263535.39 (decrease of 2.24% from 3 months ago)
Liabilities
The balance on my line of credit is $0.00.
I owe $2588.88 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 = $2588.88
Total Liabilities = $2588.88
Conclusion
On June 22, 2024, my net worth is $260946.51 . This is an decrease of $2481.84, or 0.942%, 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 continue to take hold.
Conclusion
On June 22, 2024, my net worth is $260946.51 . This is an decrease of $2481.84, or 0.942%, 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 continue to take hold.
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To read the eighteenth net worth update, click here.
To read the fifteenth net worth update, click here.
To read the sixteenth net worth update, click here.
To read the seventeenth net worth update, click here.
To read the eighteenth 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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