Welcome to the quarterly update for Q1 2020. This is part of a series where I track our financial progress on a quarterly basis. I present three parts in this series: (i) Investment & Portfolio Update, (ii) Passive Income Update, and (iii) Goals Update.
1. Investment & Portfolio Update
Q1 2020 was a turbulent time in the financial markets and I had to quickly pivot to sell and exit some of our investments as it became apparent that the market was not facing a quick drop and bounce. As a result, I sold a big part of our portfolio and went to cash.
All purchases in Jan/Feb are captured here: Recent Buys
All sales in Feb/Mar are captured here: Recent Sales
At the end of the quarter, portfolio positions are weighted as shown below:
2. Passive Income Update
During the quarter, we managed to earn a passive income of $3,303.65
You can read previous quarterly updates here.
3. Goals Update
Onto the goals that I set and see how we did overall on that front.
- Earn $10,000 in annual passive income – On Track
- Passive income YTD is $3,303 (33% of the goal achieved)
- Max out (RRSP) & Catch up (TFSA) on tax-sheltered contributions – On Track
- Over the years, I have focused on reducing current income taxes & maxing RRSP contributions, which has left plenty of TFSA room to contribute towards. I’m hoping to catch up and work towards maxing our TFSA accounts over the course of next couple of years. The RRSP accounts are still on track for maxing out in 2020.
- Continue building Baby R2R’s portfolio – max RESP contribution & contribute toward the Nest Egg portfolio – On Track
- Deleverage by making extra payments on mortgage dues – Completed
- We intended to make one large lump sum payment on our mortgage dues. We completed this in Q1.
- In addition, we have increased our regular payments in order pay down the mortgage faster.
Stay Connected / Subscribe You can follow Roadmap2Retire on Facebook, Twitter, or Pinterest. Be sure to subscribe to the newsletter to stay on top of the latest investment articles. Click here to subscribe.
That’s all folks! Thanks for reading & be sure to leave a comment below.