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Sunday, November 3, 2019

More cold cash please

I really like this time of year, the winter hour time change. It gives an extra hour to do everything needed on a Sunday before starting another week at work. And soon enough we'll be in the year 2020.
I was quite happy this past Friday to see the TSX getting closer to the 16 600 points. In my opinion, my net worth was going to be in the $232 000, but after updating my investment portfolio and debt pages earlier today, I found out that it wasn't the case. Compare to September of this year, my net worth only grow of $95.97. However, I am happy that my value actually didn't increase. I prefer a really small gain rather than a rough decline. One thing that I am happy about is that my savings account is slowly building up. It's something I wanted to work on for quite some time, but now that I am getting a bit older, I find that it doesn't make sense to have so little in savings and have everything pack in stocks only or almost... This is something that had been in my mind also for quite some time. I can be quite lazy, but when I get my mindset on something, I became a fast runner.

It doesn't look at it at first, but if I continue putting away only $200 per paycheque for the 12 months, it's $7,712.91 I will have in savings, instead of the tiny little $2,512.91 that I currently have. Eventually, I would like to have at least $20,000 in cash reserved. More is only better. It could happen in less than 4 years if I stick to this easy plan, so why not.

I feel like I am not that far away from a $300,000 net worth. It's just really hard these days to get where I want to be. The stock market being super volatile, it can actually be a good idea to just focus on putting money aside for savings rather than thinking about my next investment... I unfortunately don't have anything in mind as a new investment ideas. I feel like I have everything I need in my portfolio to hit on that magic number. Right now, the only thing I am missing in order to be a perfect investor is more savings, or what I like to introduce as cold cash in the beginning of each of my investment portfolio updates.

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