A journey to become a self-made millionaire.
This is my forth net worth updates report for this year (2015). For those new to my finance journey, a net worth update is a simple report I post every month which tracks the progress of my journey to reach my financial goals.
My ultimate goal is to become a self-made millionaire in 10 years by saving and investing in stable dividend paying blue-chip stocks.
A month with volatile markets and stocks; however, my net worth stays positive, big thanks to my $455 dividend income and the salary from my day job.
In April 2015, my net worth was increased by $3100 or 3.26% from my last update. Last month my Canadian dividend portfolio post modest gain, and U.S portfolio dropped slightly as Canadian dollar gained.
Net worth update as of April 30, 2015()
Assets: $406 300 ()
- Cash: $300 (no change)
- Home: $260 000 (no change)
- Canadian Stocks: $116 900 ( ) – Recent purchases
- U.S. Stocks: $29 100() – dropped due to gained in Canadian dollar.
Liabilities: $308 100 ()
- Mortgage : $192700 ()
- Student loan: $28 000 ()
- Margin loan: $25 200 ()
- Credit card 1: $7000 () (low interest credit card – 0.99% special rate for 12 months – will be expired in December 2015)
- Credit card 2: $9500 () (low interest credit card – 0.99% special rate for 15 months – will be expired in March 2016)
- Credit card 3: $18 700 (no change) (low interest credit card – 0.99% special rate for 6 months – will be expired in November 2015)
- Credit card 4: $9100 () (low interest credit card – 1.99% special rate for 9 months – will be expired in August 2015)
- Credit card 5: $2800 () (low interest credit card – 2.9% special rate for 6 months – will be expired in May 2015
- Credit card 6: $8800 () (low interest credit card – 0.99% special rate for 12 months – will be expired in August, 2015)
- Credit card 7: $300 (no change) – (regular expenses) – high interest rate of 19.99%.
- HELOC : $6000 () -(low interest – 3.35% – primte + 0.5%)
Net worth :$98 200 () as of April 30, 2015
My net worth up by since my last update.
Note
- all amounts are rounded to the nearest $100;
- all numbers are in CAD; and
- Conversion rate 1.00 USD = 1.20 CAD
Another positive month in my Million dollar journey, and I feel happy as I am moving toward my goal.
I am almost close to my first $100K net worth and feeling so bless.
Total increased in the year 2015 is $15 200 .
My debt level was increased in April due to some recent stock purchases using my margin loan. I should focus on reducing my debts to less than $300K – manageable level.
Hey, I reached 9.82% of my million dollar dream journey
Thank you so much for being in my finance journey and for your support.
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Looking good! Slow and steady wins the race, and if you keep saving and investing your savings I’m sure you’ll reach your million dollar goal!
Thank you Tony for your comments,
Cheers,
Wow. very close to 100K net worth.
I have to say, you’re very inspirational for middle income earners. You are a living proof that any body can become millionaire with right attitude and action. Wish you all the best!
Thank you Michele for stopping by,
I am so glad that you like this website. Yes, I like to proof that how much you make is not important, how much you save is more important to become rich.
Cheers,