The postman just came in today with a new X-MAS gift. See, in the beginning I was estimating a cash out networth of roughly 48 K$. But then the check arrived and it was 42 K$... What I didn't know was that I would get an extra check worth of 6 K$ destined to my RRSP. Well, since the 6 K$ has already been put into my RRSP, I guess the 6 K$ will simply be deposit into my saving account! Katching.
I am almost glad it came like that. It's two X-Mas gift instead of two!
Hey! Great news this morning as I saw that my cash out was in. Bells were ringing and so on. It was X-MAS all over again, like the good tune by Tom Petty.
People viewing my Portfolio might have noticed a big change in the total lane... And no, it's not Barrick Gold picking up the slack!
Like I said, I am going through The Intelligent Investor again. And, coincidentally, this very quote by Benjamin Franklin was a few pages away the day before :
"Human Felicity is produc'd not so much by great Pieces of good Fortune that seldom happen, as by little Advantages that occur every day. " (page 124.)
I have to agree Benjamin, but today is one of those good fortune day that seldom happen. But they sure feel good nonetheless.
No kidding, especially when you are 43 K$ richer! Katching.
Needless to say it was a busy Financial day. But I knew where to direct the cash, let me tell you that!
(I am still not sure as to what to actually do with it though / see previous post).
First off : I put 6 K $ into my RRSP right away. 4 K $ will be used to buy stocks eventually and 2 K$ will be buying Government Bonds.
Secondly, I put 3 K$ in my Emergency fund, for a total of 5 K$. I figured I didn't need a bigger fund since cash is sitting elsewhere -- not invest in anything.
The rest goes like this :
- I've put 4 K $ in my TFSA. Since I also make bi-monthly payments, I should be able to full my contribution for this year, which is 5 500$. I have to find stocks to buy.
- I've put 4 K$ into my Brokerage non registered account. I have to find stocks to buy.
- And I've put 19 K $ in a boring saving account as I might need this money this year -- either for a new project or simply to pay the bills.
That's pretty much it. The money has been redirected. But I still need to figure out what to do with some of it. I have my ideas. But they need time to be implemented. Just like everything else, time is honey -- and money.
Let me know what you think. I greatly appreciate hearing from you. It motivates me.
You will also see that I have added a more complete overview of my Net Worth.
Take care Financial Freaks.