Today is December 25, 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, novice 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 December 25, 2024, the value of the savings account with EQ Bank is $11688.12 . As of the time of this writing, the interest rate for EQ Bank is currently sitting at 1.75%. Since the last net worth update, the Bank of Canada cut the interest rate two times. The interest rate was cut by 0.50%, or 50bps, on October 23, 2024. The interest rate was then cut by another 0.50%, 50bps, on December 11, 2024.
Assets
Savings
The savings section is currently into 3 segments. The 3 parts are a "high" interest savings account, novice 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 December 25, 2024, the value of the savings account with EQ Bank is $11688.12 . As of the time of this writing, the interest rate for EQ Bank is currently sitting at 1.75%. Since the last net worth update, the Bank of Canada cut the interest rate two times. The interest rate was cut by 0.50%, or 50bps, on October 23, 2024. The interest rate was then cut by another 0.50%, 50bps, on December 11, 2024.
I opened up a novice Savings Account with EQ Bank. A novice savings account is a new savings account offered by EQ Bank. The novice savings account comes with one of 2 withdrawal options. Currently, the options are an account with a 10 day withdrawal or an account with a 30 day withdrawal. The current interest rates are 3.00% for the former and 3.05% for the latter.
I opened an novice savings account (30 day) in November 2024. Currently, the value of the account is $228.63. The interest rate currently is 3.05%. When a withdrawal is requested, it takes 30 days for the withdrawal to complete. During the 30 days, the interest continues to accumulate.
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, I do not own any stocks in this account.
I own 55 units of the Bank of Montreal Canadian Dividend ETF (ZDV.TO) and cash. The purchase of the ETF was first purchased after the last net worth update.
On December 20, 2024, I covered call on TA.TO was assigned at $15.50 per share.
On December 25, 2024 , the current value of this "stock / ETF /cash account" is $4273.10 . I have earned a total of $537.14 in total dividends/distributions in this account.
Overall, the savings total is $16190.03.
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 market value is $135409.68 as of December 25, 2024. This is an increase of 3.42% since the last published net worth post.
TFSA Investing Account
The TFSA investing account balance is $122893.68 as of December 25 2024. This account is with Questrade. This is an increase of 1.32% 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 sold a few covered calls on this position, and the most recent covered call expired worthless on December 20th of this month. As of December 25 2024, the value of this account is $6229.48
The TFSA investing account balance is $122893.68 as of December 25 2024. This account is with Questrade. This is an increase of 1.32% 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 sold a few covered calls on this position, and the most recent covered call expired worthless on December 20th of this month. As of December 25 2024, the value of this account is $6229.48
RRSP
As of December 25, 2024, I own 21 shares of CP Rail (Ticker Symbol CP.TO) , 152 units of XAW, 65 shares of CN Rail (CNR.TO) and 49 shares of Alimentation Couche-Tard (ATD.B.TO)
I also own 52 units of CASH.TO.
The value of this account as of December 25, 2024, is $26022.97 . This is an increase of 2.96% from September 28, 2024.
Summary of Assets
Total Savings : $16190.30
Non-Registered accounts : $135409.68
Total Savings : $16190.30
Non-Registered accounts : $135409.68
TFSA Investing : $122893.68
Trading Account: $6229.48
RRSP Savings Account: $26022.97
Trading Account: $6229.48
RRSP Savings Account: $26022.97
Total Assets =$306746.11 (decrease of 3.00% from 3 months ago)
Liabilities
The balance on my line of credit is $0.00.
I owe $11788.17 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 = $11788.17
Total Liabilities = $11788.17
Conclusion
On December 25, 2024, my net worth is $294957.94. This is an decrease of $2859.97, or 0.960%, from 3 months ago.
The market continues to go up and down. During the last 3 months, we have seen inflation going down, but the fears of a recession continue to take hold.
Conclusion
On December 25, 2024, my net worth is $294957.94. This is an decrease of $2859.97, or 0.960%, from 3 months ago.
The market continues to go up and down. During the last 3 months, we have seen inflation going down, but the fears of a recession continue to take hold.
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To read the seventeenth net worth update, click here.
To read the eighteenth net worth update, click here.
To read the nineteenth net worth update, click here.
To read the twentieth 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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