Net worth update – October 2021

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.

October Net-worth Update

My net worth increased by $20 600 or 3.61% in October.

It was a remarkable comeback after 1.81% dropped in September.

My net worth is holding up well during the October market meltdown due to a new virus issue.

I believe it is a temporary drop, and it created a good buying opportunity, especially in the energy market.

I didn’t have energy exposure before. Thus, I made some purchases in the energy sector recently.

I will discuss my purchases in my next portfolio update posts.

Net-worth change in October 2021

Assets value

My assets value increased by $21000.

My asset value has been growing faster with appreciation in value, dividend reinvesting and new purchases. I believe the value of my asset will continue to grow over the long run.

Liabilities

My debt increased by $400 due to some investment purchases using margin loans.

My debts are high, but I am not too worried about it now. I moved most of my debts into a fixed-long term mortgage. Therefore, debts related costs and payments are more predictable and easy to handle.

I have over $200 k available credits from margin loans and a line of credits. I won’t spend them on any unnecessary things.

I will only use my debts for assets purchases. If the market gives me opportunities, I will be happy to scoop up some assets.

Net-worth

Overall, my net worth was up by $20600 or 3.61% in October.

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 from yours, and blindly copying my ideas may not benefit your life. Please do your research or discuss with qualified financial advisors before making any financial decisions.

October 2021 Net-worth Update

Net worth update as of October 31, 2021 (+3.61%)

Assets:$101 3200(+$21000)

• Cash: $1500 (-$200)


• Home: $395 000 (no change) –conservative estimated value


• Canadian Stocks: : $487 600 ( +$21 300 )


• Small-cap Portfolio: $14 100 (-$3600 )


• U.S. Stocks: $61700 ( +$2900 )


• International Stocks: $11 900 (+$100 )


• Employer’s Pension Plan: $41 500( +$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: $422 500 (+$400 )

• Mortgage -1:$174 200 ( -$400 )


• Mortgage -2: $132 000 ( -$400)


• Student loan: $4800 (no change)


• Margin loan: $111 500 (+5900)


• Credit card 3: $0 (-$4700) (low interest credit card – 0.99% special rate for 12 months – expires in November 2021)


• Credit card 7: $0 (no change) – (regular expenses)- high interest rate of 22.99%.)

Net worth : $590 700 ( +$20600) as of October 31, 2021

My net worth was up by +3.61% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.2402 CAD

I have a huge credit card and margin 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.