Net worth update – November 2020

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.

November 2020 Net-worth Update

My net-worth reached a new high in November 2020, thanks to the stock market rally with the positive vaccine news.

Net-worth increased by 13.49% or $43 200 last month.

It was the best month of my journey. This one-month increment was more than my net yearly salary from my day job.

Also, I hit a milestone of $350K net-worth.

Net-worth change in November 2020

Assets value

My assets value increased by $47 300 last month and reached a new high of $706 200. It is the first time I reached $700K in my journey.

Liabilities

My debt increased by $4100 as I purchased some investments in early November using some debts.

Net-worth

Therefore, my net worth increased by $43 200 and reached a new milestone of $363 400 for the first time.

I hit my first $50K in May 2014. By the time, the value of my investment assets was $92 000 and debts was $58 200.

Then, I hit my second $50K in May 2015– exactly in 12 months after the first one, with the investment assets value of $149 400 and debts was at $308 800. Debt increased dramatically high due to the mortgage of my house purchases.

And, I reached my third $50K in October 2016, with investment assets value of $205 900 and debts of $333 800.

In June 2018, I hit my fourth $50K, with the investment assets value of $229 100 and with debts of $326 700.

In April 2019, I hit my fifth $50K (a quarter million dollar), with the investment assets value of $264 400 and with debts of $322 600.

And in January 2020, I hit my sixth $50K, with the investment assets value of $303 900 and with debts of $315 300.

Now, in November 2020, I hit my seventh $50K, with the investment assets value of $378 200, and with debts of $342 800.

My $50K milestones

Let’s see my net-worth in numbers.

As I always say, I am here to share my financial freedom journey with this site’s readers. My financial goals, financial situations, and risk tolerances are much different than yours and blindly copy my ideas may not benefit for your life. Please do your own research or discuss with qualified financial advisors before may any decisions.

November 2020 Net-worth Update

Net worth update as of November 30, 2020 (+13.49%)

Assets: $706 200 (+$47 300)

• Cash: $800 (-$100)


• Home: $291 900 (no changed) – Yearly adjustment with average inflation rate of 2% in every January


• Canadian Stocks: : $311 200 ( +$40 900 )


• U.S. Stocks: $56 100 ( +$4900 )


• International Stocks: $10 900 ( +$1100 )


• Employer’s Pension Plan: $35 300( +$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: $342 800 (+$4100 )

• Mortgage :$180 100 ( -$500 )


• Student loan: $5700 ( -$100 )


• Margin loan: $89 500 (+$700)


• Credit card 1: $1900 (no change ) (low interest credit card – 0% special rate for 10 months – expired in June 2021)


• Credit card 2: $9400 (no change) (low interest credit card – 0.99% special rate for 12 months – will be expired in February 2021)


• Credit card 3: $15300 (+$15300) (low interest credit card – 0.99% special rate for 12 months – expired in November 2021)


• Credit card 4: $0 (no changed ) – a promotional offer at 1.99% special rate – expired in March 2020)


• Credit card 5: $17700 (-$200) (low interest credit card – 0.99% special rate for 12 months – expire in May 2021)


• Credit card 6: $0 – (Paid-off – a promotional offer at 0.99% special rate – expired in November 2020)


• Credit card 7: $1100 (+$800) – (regular expenses)- high interest rate of 19.99%.


• Line of Credit 1 : $12 400 (-$100 ) – (low interest credit card – 2.99% special rate for 12 months – will be expired in January 2021)



• Line of Credit 2 : $9700 (no changed) – (low interest credit card – 2.99% special rate for 12 months – will be expired in January 2021)


• Line of Credit 2 (HELOC) : $0 (-$11800 ) – (Interest rate – 2.95% )

Net worth : $363 400 ( +$43 200) as of November 30, 2020

My net worth was up by +13.49% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.2984 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.

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