Slowly Turning the Page on Debt: My Net Worth Journey to $367,685.60 with a Margin Debt of $26,163.79

Last Friday, the TSX concluded its session at a solid 20,407.57 points. Inspired by this, I took the opportunity to reassess my investment portfolio, gauging my progress after numerous payments chipped away at my margin debt. Encouragingly, I observed significant gains. With my net worth now at $367,685.60, I find myself in close proximity to my all-time highest net worth of $373,150.19, achieved just a few months ago in April of this year. I had updated my investment portfolio, as well as my net worth sheet. It would certainly be delightful if I could reclaim the $373,000 mark in time for my upcoming birthday. After all, as they say, "nothing is impossible."

During this recent Friday, I decided to divest some of the shares I held within my TFSA, specifically the JFT Strategies Fund Class A Units (JFS.UN), in order to make strides in paying down my margin debt. Additionally, I initiated a transfer of $500 from my latest paycheck to contribute towards this effort. Consequently, these combined payments have effectively reduced my margin debt to $26,163.79. My projections are optimistic, as I contemplate the possibility of lowering this debt to the $19,000 range by the close of 2023. While $19,000 remains a substantial sum, I can envision a feasible path to settling this within a year's time, or possibly even sooner if I commit wholeheartedly. 

This leads me to believe that I will likely achieve debt-free status by sometime in 2024, with less strain than anticipated. The practicality of this plan has instilled confidence in me, and I am gratified by my decision to part with a portion of my JFS.UN investment, a choice that now seems pivotal. I am genuinely emboldened by the conviction that attaining this goal is well within my reach. It's quite a pleasant feeling, especially considering that small debt had been weighing on me for a while now.

Even though I have retained some JFT Strategies Fund Class A Units (JFS.UN) within both my TFSA and RRSP portfolios, I deemed it prudent to sell off a portion of my JFS.UN units to mitigate my margin account debt. This strategy aligns well with my goals, as I can always re-invest in JFS.UN units down the line, if I choose to. The absence of dividend distribution from JFT Strategies Fund Class A Units (JFS.UN) played a role in guiding my decision to divest partially from my TFSA holdings. Furthermore, the consistent stability in the value of JFT Strategies Fund Class A Units (JFS.UN) affords me the confidence that re-entry into this fund will be straightforward in the future.