Social Icons

Tuesday, January 17, 2023

Making 2023 the year for a $20,000 in savings

It's now official, I am back in the $361,000 net worth! I am really only missing a few dollars before hitting back my highest net worth value ever, $361,442.42. This is quite fascinating because the TSX just keeps on going. Day after day, the TSX closed on a few more gains after a few more gains. It's somewhat obvious that this is not going to stay this way for very long. Major businesses announced lately some layoffs. It's been said that Microsoft is getting ready to announce some massive layoffs.

In my investment portfolio update posts, what I design under the name of "cold cash" at the beginning of each little report is the actual amount of money that I have in savings. I will be in New Brunswick until probably the month of April or May. Currently, I have over $13,000 in savings. I had planned to reach the $20,000 by the end of May. But in order to do so I need to remain very calm with my spending. I can make it for the month of May, but it will take all that I can, including the dividend distribution earned inside my TFSA for the period of January to May. It won't be an easy task. 

Talking dividends, today I received some nice dividend distributions coming from BCE. 

Time like we are living right now, with a stock market accumulating gain, for now, several days, while we are still actively fighting against inflation and, at the same time, major businesses across the US are announcing massive layoffs, I mean all of this doesn't make any sense. One major problem is that the TSX is exceeding the 20,000 and is fast driving over the 20,500 points while everything from the outside seems to be chaotic.

I began to invest in stocks shortly before the 2008 stock market crash so I can say that I can deal with market volatility, but one thing is for sure, I will be careful with my money and my spending in the months to come - more than I ever did before. While the TSX had been experiencing gains for several days in a row, I am not looking forward to investing in stocks. I really don't feel like investing in anything right now and this is quite a new feeling for me, not to me on the hype to find some new stocks to invest in, or in anything really.

I am taking this opportunity to save as much as I can and build up my savings. I never had too much in savings because I always invested what I had at my disposal. Now that I am getting a bit older, I want to be a smart girl. A $20,000 in savings is reachable and I am looking forward to it.


Jules Gold said...

you are amazing, that you keep sticking with your investing even when the market looks scary!

Sunny said...

Thanks for the compliment, but it's the only thing I can possibly do, and it's the easiest, but at the same time, it's not necessarily easy all the time.


Thank you

Thank you for visiting!
Blogger Templates