Last updated: July 07, 2014
This is my fifth net worth updates report. 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.
Last month was an exciting period for investors as many major stock indexes including TSX hit record high after the great recession.
In June 2014, my net worth was increased by $4600 or 8.01% from my last update, mostly because of my saving and the gained in my Canadian stock portfolio. My dividend portfolio organically gained 1.26% or $1200 (no new stocks or cash transfers into the accounts) in June 2014. Also, I received $411.84 dividends during the period.
Net worth update – July 07, 2014 ()
Let’s look at my net worth in numbers:Assets: $116 200 ()
- *Cash : $5000()
- Deposited to our new home: $15000 ()
- Canadian Stocks:$81000 ( )
- U.S. Stocks: $15200 ()
Liabilities: $54 800 ()
- Student loan: $29600 ()
- Margin loan: $700 ()
- Credit card 1: $6000 () (low interest credit card – 0.99% special rate for 8 months)
- Credit card 2: $9100 () (low interest credit card – 0.99% special rate for 12 months)
- Credit card 3: $0() Paid off
(low interest credit card – 1.99% special rate for 6 months) - Credit card 4: $9400 () (low interest credit card – 0% special rate for 6 months)
- Credit card 5: $0 (low interest credit card – 2.9% special rate for 6 months)
Net worth : $61 400 ()
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 = 1.09 CAD
*I usually don’t keep cash in my bank accounts, but I keep $5000 in my chequing account for the new home deposit.
I have a huge credit card debt because I took advantage of “low balance transfer promotion and invested in high quality dividend stocks. Taking modest risk and leveraging are the keys to become wealth.
Hey good job increasing your net worth. Although for me I probably wouldn’t use my credit cards to buy stocks with it, seem too risky for me. It looks like it works for you keep on investing toward your goal.
Thank you J,
I know leverage investing is too risky, but I am really careful in selecting my investment. Also, I have a backup plan to pay off the credit cards, if I can’t renew my low interest promotion rate.
Cheers,
Nice Run!
I just found out your website a couple weeks ago, an it really help me with my Canadian Stock wishlist.
I’m still at my accumulation phase, building small positions on any weakness.
I just apply for a MBNA TD credit card that offer 0% for 12 months on deposit. Can wait to put that money to work!
Keep up the updates!
Hi DGI,
Thank you for stopping by. Great to see that you started to put the money work for you. Careful when you buy stocks using borrowed money and understand the risk in leverage investing. Buy only quality blue chip dividend growth stocks at fair price and hold it for long term.
Best Regards,
Great month for you pal 🙂 Congrats on the $411 in dividend income. I think that’s a new record for you? I’ve also noticed the TSX hitting all time highs. Some people warn we’re in a bubble, but I just continue to invest because nobody can predict what will happen next.
Thank you Liquid :d
Yes, last month dividend income was my own record :D. We have same thinking, I am not worrying about TSX high, if I find any quality stocks at fair price, I will invest, keep it for long-term and collect growing dividend.
Cheers,
Finance Journey,
That’s a great move up. Increasing your net worth by more than $4k in one month is just a dream for many, who maybe don’t even earn that much in a month. That’s the power of compounding your wealth and putting your money to work!
Keep up the great work.
Best wishes.
Thank you DM,
It was one of the great month. I hope the upward trend continue in the upcoming months too.
Cheers,
Great Month Finance Journey! 8% in one month is definitely something to be proud of. Keep building up those assets while lowering those liabilities! 🙂
Wishing you continued success in your personal finance journey! AFFJ
Thank you AFFJ,
I am so happy with my progress. Hopefully, the trend will continue in the upcoming months.
Best Regards,