Welcome to my second net-worth update for the year 2019.
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 or in February 2019.
It is a decent move in the right direction after a huge increase in January.
Markets continue advancing and getting closing to the previous all-time high despite the concern about the slowing economies around the world.
Market volatilities are relatively low for the last two months; however, many analysts predict that it won’t last long due to the uncertainties surrounding the economy.
As usual, investors look for safe heavens that increase the bond price, and that leads to lower bond yields!
As a result, income-focused investments become attractive once again, and my investment portfolios built with dividend growth stocks have been performing well.
A couple of months ago, rate-sensitive sectors took a hard hit, many investors dumped their holdings and moved their money to growth stocks because they were expecting a sharp increase in interest rate; however, it did not happen.
Now, growth is slowing down and rates are not moving up. So, they are coming back to ‘safe’ stocks, and most of the investors are paying a much higher price to get back to the game.
Bad timing for them!
I don’t make any significant changes in my portfolios based on predictions and guess works. I’ve been in the game from the beginning. I have seen lots of ups and downs – some of them were significant, but I did not make any changes.
In fact, I was a buyer and able to build some positions at a discounted price (FTS, EMA, TRP, BCE, etc.) while everyone was selling.
Now, they are paying off well. Glad I stick with my longer-term plan.
Anyways, I am in the accumulating stage. For me, the lower the price is better as I get more dividend for every dollar I put to work.
I will keep adding high-quality stocks to my portfolio without worrying about short-term movements of the stock prices.
Let’s see all the details in numbers:
Net worth update as of February 28, 2019 ()
Assets: $560 100 ( )
- Cash: $300 ()
- Home: $286 100 (no changed) – Yearly adjustment with average inflation rate of 2% in every January
- Canadian Stocks: : $202 100 ( )
- U.S. Stocks: $39100 ( )
- International Stocks: $8900 ( )
- Employer’s Pension Plan: $23 600( )
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: $321 100 ( )
- Mortgage : $170 800 ( )
- Student loan: $16 800 ( )
- Margin loan: $68100 ()
- Credit card 1: $9500 ) (low interest credit card – 0.99% special rate for 12 months – will be expired in January 2020)
- Credit card 2: $4900 ) (low interest credit card – 0.99% special rate for 12 months – will be expired in February 2020)
- Credit card 3: $17 900 ( ) (low interest credit card – 0.99% special rate for 12 months – will be expired in November 2019)
- Credit card 4: $0 () – a promotional offer at 0.99% special rate – will expire in February 2019)
- Credit card 5: $2400 ( ) – (low interest credit card – 1.99% special rate for 12 months – will be expired in October 2019)
- Credit card 6: $10 700 ( ) – (low interest credit card – 0.99% special rate for 12 months – will be expired in September 2019)
- Credit card 7:$500 ( ) – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 :$19500 ( ) – (low interest credit card – 3.00% special rate for 12 months – will be expired in December 2019 – renewed recently for another 12 months)
Net worth : $239 000 ( ) as of February 28, 2019
My net worth was 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 = 1.3176 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.
Hey there,
I have been following your page for the last year and have more of less focusing my investment strategies along the same lines as you. I am wondering, do you reinvest all of your dividends back into the same stock, or do you take the dividend payout as cash to further invest in other stocks? Right now I currently have roughly $53,000 invested across 1 mutual fund, 1 ETF and 10 individual companies and I earn roughly $1,600/year from dividends and I reinvest all of my dividends back into the stock.
I am just wondering what your strategy is for this? Would you reinvest, like I currently do? Or would you take the cash in order to further diversify?
Thanks!
Jordan
Hello Jordan,
Thank you for stopping by,
I don’t automatically reinvest my dividends. I collect the dividend as cash and buy stocks or ETFs that I feel more value at the time of purchase. This way I could diversify my holdings as I wish.
Dividend reinvestment is also a good way to build wealth (hands-off way). Whichever strategy works for you, then stick with it.
Best Regards,