Personal Finance

What I have now and my plans to CRUSH IT!

Here are what I currently have as assets:

  • $18,000 TFSA and cash
  • $35,000 RRSP
  • $9,200 worth of TD bank stock

I also have a total of $19,000 of my personal line of credit from two banks to pay off. One has about $2,800 and the other has about $16,200.

See! I don’t have that much….

But I bought a pre-constructed condo back in 2014 that is worth $380,000.  I have already put in $90,000 and this condo is what’s going to make me


Here is my current monthly budget (Thanks to Apple Numbers):

Screen Shot 2017-07-22 at 10.07.46 PM

As you can see, I mainly focus on paying my debts off because my plan is to take out more from my line of credit once I pay off the $2,800 from one of the banks.

My plan is to take out about $8,800 to invest in stocks either in the financial sectors or in the consumer goods’ sectors.

Since my financial planner suggested I should have a year of savings after I move into my condo for unforseen mortgage and occupancy fee payments, therefore I think $18,000 is enough assuming my monthly payment will be around $1,500.

My investment in TD stock and the $8,800 would be my saving for the condo payments.

So why don’t I just put the $8,800 in a TFSA savings account and just let the money grow 0.8% annually?

My thought was the $8,800 would grow better in the stock market if I do not have to withdraw this money out.

This is just my first step of making my first..


What do you think of my plan so far? Feel free to post a comment below!

8 thoughts on “What I have now and my plans to CRUSH IT!”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s