On Friday, I had the day off, and one of the things I did was calculate my net worth. I know – do I know how to live it up or what?! . I’ve been feeling a bit antsy about money lately, and when I get that way, it helps to sit down and figure out just how we’re (that’d be Mr. Canuck Buck and I – Kelsey the cat does not contribute to the financial picture at all, the lazy thing) doing.
The good news is that we’re doing fine. Our net worth has gone up since August, and our investments are doing reasonably well. It’s so awesome to be able to check out most of your information online – makes things so much easier and faster!
While I was reviewing this, I went through all the paperwork, and did some tidying there to (just extra papers that I’d hung on to, but no longer needed). I also made a “to do” starting for next year. I determined I need to.
1. Make sure my financial advisor (yes, I have one, and yes, I regret investing with him) moves some funds around. To make a long story short, I was an idiot when I invested with this guy. The investments themselves are okay, but I didn’t check carefully enough about fees, and I can move X amount each year without getting into deferred service charged. A few more years, and I won’t have to worry about them at all and I will be taking all my money into something with must less in the way of fees!
2. Also see about changing how much TFSA money is invested – it’s been suggested (not by advisor guy) that I look into dividend stocks for my TFSA.
3. Do something with the RRSP money I just have sitting in the money market. I got a bonus last year, and dumped it into an RRSP I had to open in a hurry. I just put everything into a money market, and it’s been sitting there ever since. That’s one of my flaws – I get so worried about making the wrong choice, I just don’t do anything.
Do you ever calculate your net worth? Does it help you make goals for the next months or year?