Riley's Quest for Financial Growth: Episode 10 of the Questrade Challenge
As Riley embarks on the tenth episode of his Questrade Challenge, he shares his journey toward growing his investment portfolio to $100,000 within a single year. He is also tracking his total net worth as he navigates life and investing at the age of 30. With the end of the year approaching, Riley takes the opportunity to make final investments, reflecting on his current standings and future plans.
On December 31, Riley notes that his portfolio value stands at $63,600, albeit with a slight decrease of 0.27%, equating to a loss of around $170. Despite this setback, Riley is optimistic and ready to make a significant buy. He decides to purchase VFV, a fund that has recently experienced a decline, allowing him to capitalize on the lower price. Investing nearly $3,900, he plans to acquire approximately 26 shares, demonstrating a strategic approach to dollar-cost averaging.
Moving beyond his immediate investments, Riley provides a comprehensive overview of his financial situation. He proudly states that his current debt is $0 after successfully paying off substantial student loans—an achievement he identifies as foundational to his investing strategy. This debt-free status allows him to allocate more towards investments and savings.
Riley maintains a healthy $25,000 in emergency funds, which he keeps accessible in various cash accounts. This balance reflects the common financial advice of having three to six months' worth of expenses set aside for unforeseen circumstances.
Delving into his investment portfolio, Riley reveals that his total stock investments amount to $275,000. He has maximized contributions in his Tax-Free Savings Account (TFSA) at $112,000 and his First Home Savings Account (FHSA) at $16,000. The remaining funds are held in non-registered accounts. To get a complete view of his stock holdings, Riley advises viewers to check out his previous video, which details a full portfolio breakdown.
In the realm of cryptocurrencies, Riley has allocated $5,000, focusing primarily on established options like Bitcoin and Ethereum, while steering clear of more volatile meme coins.
Riley also discusses his assets beyond stocks and crypto. He owns vehicles totaling $25,000—a reliable Toyota Corolla and Honda Civic. However, he currently has no real estate investments. Yet, he teases that this could change soon, as he plans to enter the real estate market in the coming spring, which would further diversify his portfolio.
Total Net Worth and Future Goals
As per his calculations, Riley’s total net worth is approximately $330,000. As he plans for 2025, he aims to continue investing in the S&P 500 Index via VFV through dollar-cost averaging, an investment strategy that many experts recommend for long-term growth.
Riley acknowledges the ongoing debate surrounding renting versus buying a home, noting his recent rental history and expressing readiness to invest in a property to build equity and add diversity to his investments.
Community Engagement and Future Content
Riley expresses gratitude for his viewer engagement and offers to answer questions or discuss concerns. He plans to update his followers every six months on both his net worth and portfolio developments. Furthermore, he keeps the specifics of his business ventures separate but hints at future content that may elaborate on his entrepreneurial activities.
As he wraps up the video, Riley wishes everyone a Happy New Year, inspiring his audience to embark on their own investment journeys as well. By sharing his experiences and strategies, he hopes to motivate others to take control of their finances and join him in achieving financial growth.
Part 1/7:
Riley's Quest for Financial Growth: Episode 10 of the Questrade Challenge
As Riley embarks on the tenth episode of his Questrade Challenge, he shares his journey toward growing his investment portfolio to $100,000 within a single year. He is also tracking his total net worth as he navigates life and investing at the age of 30. With the end of the year approaching, Riley takes the opportunity to make final investments, reflecting on his current standings and future plans.
Current Portfolio Status
Part 2/7:
On December 31, Riley notes that his portfolio value stands at $63,600, albeit with a slight decrease of 0.27%, equating to a loss of around $170. Despite this setback, Riley is optimistic and ready to make a significant buy. He decides to purchase VFV, a fund that has recently experienced a decline, allowing him to capitalize on the lower price. Investing nearly $3,900, he plans to acquire approximately 26 shares, demonstrating a strategic approach to dollar-cost averaging.
Financial Overview
Part 3/7:
Moving beyond his immediate investments, Riley provides a comprehensive overview of his financial situation. He proudly states that his current debt is $0 after successfully paying off substantial student loans—an achievement he identifies as foundational to his investing strategy. This debt-free status allows him to allocate more towards investments and savings.
Riley maintains a healthy $25,000 in emergency funds, which he keeps accessible in various cash accounts. This balance reflects the common financial advice of having three to six months' worth of expenses set aside for unforeseen circumstances.
Detailed Breakdown of Investments
Part 4/7:
Delving into his investment portfolio, Riley reveals that his total stock investments amount to $275,000. He has maximized contributions in his Tax-Free Savings Account (TFSA) at $112,000 and his First Home Savings Account (FHSA) at $16,000. The remaining funds are held in non-registered accounts. To get a complete view of his stock holdings, Riley advises viewers to check out his previous video, which details a full portfolio breakdown.
In the realm of cryptocurrencies, Riley has allocated $5,000, focusing primarily on established options like Bitcoin and Ethereum, while steering clear of more volatile meme coins.
Part 5/7:
Riley also discusses his assets beyond stocks and crypto. He owns vehicles totaling $25,000—a reliable Toyota Corolla and Honda Civic. However, he currently has no real estate investments. Yet, he teases that this could change soon, as he plans to enter the real estate market in the coming spring, which would further diversify his portfolio.
Total Net Worth and Future Goals
As per his calculations, Riley’s total net worth is approximately $330,000. As he plans for 2025, he aims to continue investing in the S&P 500 Index via VFV through dollar-cost averaging, an investment strategy that many experts recommend for long-term growth.
Part 6/7:
Riley acknowledges the ongoing debate surrounding renting versus buying a home, noting his recent rental history and expressing readiness to invest in a property to build equity and add diversity to his investments.
Community Engagement and Future Content
Riley expresses gratitude for his viewer engagement and offers to answer questions or discuss concerns. He plans to update his followers every six months on both his net worth and portfolio developments. Furthermore, he keeps the specifics of his business ventures separate but hints at future content that may elaborate on his entrepreneurial activities.
Part 7/7:
As he wraps up the video, Riley wishes everyone a Happy New Year, inspiring his audience to embark on their own investment journeys as well. By sharing his experiences and strategies, he hopes to motivate others to take control of their finances and join him in achieving financial growth.