As of January 1, 2010. "Stocks" = all non-registered investments (Canadian and US Index Funds). "Other Assets" = TFSA account (all cash at present and thought of primarily as an emergency fund).
A ho-hum finish to the year. Limited additional income in December and the markets were so-so hence I finished just short of the $420,000 mark for the year. Still, given the turmoil of the markets at the beginning of the year and my initial goal of $400,000, it has been a successful year from a financial standpoint for me. Here are my financial goals for 2010:
(1). Achieve a net worth of $470,000 by the end of the year, for an annual gain of ~12.5%. While income from the first six months of the year should be slow as I finish training, once I begin working I should be able to accomplish this without too much stress provided that factors beyond my control (i.e. markets) don't crash. They *could* very well crash, which is why I've set a modest goal.
(2). Maximize TFSA and RRSP contributions for the year. This shouldn't be a real problem.
(3). Consolidate all of my finances with a single institution. I'm in the process of bringing everything under one roof (TD Canada Trust) and hopefully the transition will be smooth.
(4). Consider the merits of switching over to ETFs when the numbers make sense to do so. I should be over $100,000 in investments by the end of the year, and the savings in terms of MER that I would gain by switching to ETFs would likely be worth doing so. |