Monthly status update

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Savings @ 4%: $35892.30
RRSP: $32444.70
Securities: $29414.58
MBNA Mastercard: $(12,500) @ 0% interest until September 2007
CitiBank Mastercard: $(9600) @ 0% interest until October 2007

I currently have a net worth of about 76K. I'm up about 5K since my last financial status update. Astute readers will notice that I have lowered my cash holdings, increased my RRSP contribution and also increased my securities holdings.

Comments

Anonymous said…
CD, you're making great progress, keep it up! Have you reviewed many ETF's? If so, which are your favorites?

FT
January 31, 2007 at 10:13 AM
Anonymous said…
How come you don't move some of that savings that you have in the 4% savings account in to a laddering GIC scheme, or some low cost realativly save mutual funds like TD E-Funds or some ETFs?

That seems like an aweful lot of cash to have sitting around earning just over inflation.
January 31, 2007 at 8:06 PM
torontoinvestor said…
If you look carefully about 22000 of that money is borrowed money on a 0% credit card. Since that amount needs to be preserved, I'm going with a low risk investment of leaving it in a savings account.

In my savings account only about 13K is my own money.

Hope this explains things.
January 31, 2007 at 9:42 PM
Anonymous said…
Be careful over applying to credit cards just for the 0% interest rate. Every application hits your credit report and may affect your ability to get a mortgage in the future. Mortgage lenders look at how much credit you have available to you and take that into consideration.

FT
February 2, 2007 at 2:21 PM
torontoinvestor said…
Indeed! Thanks for the reminder. I have two accounts that are 0% and definitely intend to pay off the principle when the time comes. It would be foolish not to. After the promotion period is over I will probably just shred or cancel those cards.
February 2, 2007 at 2:26 PM
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