Net worth update – December 2018

Welcome to my eleventh net-worth update for the year 2018.

A short intro for new readers

If you are not new here, then you can simply skip to the next section.

For those new to my finance journey, this net-worth update is a simple report I publish every month, which tracks the progress of my journey to reach my financial goals.

My ultimate financial goal is to become a self-made millionaire by December 2024 (10 years plan). I have a strong belief that I can achieve this goal by saving and investing in high-quality dividend-paying blue-chip companies. I am also a strong believer of ‘compounding’ power, and I believe if I can push myself now and build a decent net-worth, then the ‘ compounding effect’ will give a heavy lifting in my later part of this journey.

I am posting all my financial information on this website because I love to inspire and motivate people to start their own journey to reach their financial freedom. You could learn from my successes and failures (experience) and improve your financial knowledge.

Along the way, I make financial mistakes and will share my experience here with you. So, you could learn something, avoid those mistakes and save money.

Also, I like to publicly track my progress and get feedback from like-minded people.

My net-worth

My net-worth was up by 4.28% in November 2018.

Last month, my Canadian and U.S portfolio did pretty well, especially, my defensive holdings performed well during the period when markets were facing some uncertainties.

Also, I was able to reduce my debts. We will see all the details in number at the end of this post.

Year-end market volatility

But in December my investment portfolio has been getting smashed.

When markets get tanked significantly, they bring down almost all the stocks along with them – whether you have a good or bad stock, doesn’t matter. The market doesn’t care about it. Usually, everything gets smashed.

My portfolios are not immune to handle these types of market volatilities as I am fully invested in stocks, and I don’t have any bonds or cash reserve to minimize the downward pressure.

To be honest, I am not interested in calculating my December net-worth. It keeps going down – significantly – along with the overall markets. So far my net-worth is down by a few thousand dollars in December alone.

However, I still have a hope of Santa Clause rally. At least a small rally may help me to post decent numbers. Let’s wait and see.

But, as I usually do, I have been buying some stocks at sales. A lot of high-quality stocks are trading at a discounted price.

Nobody knows when the market gets touched the bottom, and nobody has any idea how long it stays there before starts to move back.

As of this writing, markets keep falling and falling every single day.

So, I decided to buy small positions at a time. In this way, I won’t miss the buying opportunities at a discounted price, and at the same time I won’t pay a higher price for the purchases.

Unfortunately, I had to go little depth into debt to fund the new purchases as I didn’t have enough cash reserve to execute the orders.

If markets start to rally, then I will stop buying them and start to pay down debts, and if they keep falling down, then I will keep buying small positions at a time from my shopping list until the positions get filled (I have a targeted number for each holding).

Many investors were interested in many stocks when the markets were an all-time high, and they even paid a higher prices to buy their favorite stocks, but they are now scared to buy the same stocks even they are available to purchase for a much lower price than a month or two ago.

Let’s see all the details in numbers (November 2018’s performance)

Net worth update as of November 30, 2018 (+4.28%)

Assets: $535 200 (+$7400 )

• Cash: $800 (-$100)


• Home: $280 500 (no change) – Yearly adjustment with average inflation rate of 2%


• Canadian Stocks: : $187 200 ( +$4800 )


• U.S. Stocks: $44 600 ( +$2200 )


• Employer’s Pension Plan: $22 100( +$500 )

Disclaimer..

Please note the information posted on this website is the opinion of my own and should not be considered as professional financial advice. I am not a financial professional, and I can buy, sell, or hold any investment at any time.

Any transactions I publish on this website are not recommendations to buy or sell any securities or investments.

My financial situations, goals and risk tolerances will be much different than you. Therefore, please do your own research or consult with a qualified financial professional before even considering using the information obtained from this website.

Liabilities: $318 500 ( -$1500 )

• Mortgage : $172 200 ( -$500 )


• Student loan: $18 400 ( -$400 )


• Margin loan: $66 100 (+$700)


• Credit card 1: $9000 (no change) (low interest credit card – 1.99% special rate for 8 months – will be expired in January 2019)


• Credit card 2: $0 (paid-off) (low interest credit card – 2.99% special rate for 12 months – will be expired in January 2019)


• Credit card 3: $4300 ( -$900 ) (low interest credit card – 0.99% special rate for 12 months – will be expired in December 2018)


• Credit card 4: $13 700 (-$200 – a promotional offer at 0.99% special rate – will expire in February 2019)


• Credit card 5: $3200 ( -$100 ) – (low interest credit card – 1.99% special rate for 12 months – will be expired in October 2019- *renewed recently)


• Credit card 6: $11 200 ( -$100 ) – (low interest credit card – 0.99% special rate for 12 months – will be expired in September 2019)


• Credit card 7:$600 ( +$100 ) – (regular expenses)- high interest rate of 19.99%.


• Line of Credit 1 :$19800 ( -$100 ) – (low interest credit card – 2.99% special rate for 12 months – will be expired in December 2018)


• HELOC: $0

Net worth : $216 700 ( +$8900 ) as of November 30, 2018

My net worth was up by +4.28% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.3287 CAD

I have a huge credit card debts because I take advantage of low balance transfer promotion rate and invest in high quality dividend stocks. Learn, earn, save,invest and leverage your skills are the keys to become wealth.

Thank you so much for following my finance journey and for your great support.