I am happy to have reached my goal of achieving a net worth of $355,000 this year despite a pretty significant downturn in the markets which dragged my (little) portfolio down some. The book value of my RRSP portfolio is ~$30.8K, so that's ~$5500 (17.85%) lost. The final goal to be achieved is an RRSP of $35K - unfortunately, that likely won't be achievable by the end of the year as I only have ~$3200 of RRSP contribution room left for the year.
Took the plunge and opened TFSA account with ING Direct and deposited $5000, intending for this to serve as my emergency fund for at least the next couple of years, which will be tracked in the "Other Assets" column. Also made a lump sum contribution of $3000 to my RRSP this month and will continue with biweekly contributions. Have forecasted ~$12,000 tax bill which will come due April 2009 that I will have to prepare for. Will start doing a little extra work here and there this month to pay upcoming holiday bills, and think about financial goals for 2009. In reading about the difficult times that many are having in our current economy, I feel very fortunate to be secure and comfortable with my short-term and long-term financial situation. |