A journey to become a self-made millionaire.
This is my third net worth updates report for this year (2015). 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.
A month with volatile markets and stocks; however, my net worth stays positive, big thanks to my $510 dividend income and the salary from my day job.
In March 2015, my net worth was increased by $2700 or 2.92% from my last update. Last month my Canadian dividend portfolio dropped slightly, and U.S portfolio post a modest gain .
Net worth update as of March 31, 2015 ()
Assets: 401 500 ()
- Cash: $300 ()
- Home: $260 000 (no change)
- Canadian Stocks: $110 800 ( )
- U.S. Stocks: $30 400 () – Due to the gained
Liabilities: $306 400 ()
- Mortgage : $192900 ()
- Student loan: $28 200 ()
- Margin loan: $23 500 ()
- Credit card 1: $7100 (no change) (low interest credit card – 0.99% special rate for 12 months – will be expired in December 2015)
- Credit card 2: $9700 () (low interest credit card – 0.99% special rate for 15 months – will be expired in March 2016)
- Credit card 3: $18 700 () (low interest credit card – 0.99% special rate for 6 months – will be expired in November 2015)
- Credit card 4: $9200 () (low interest credit card – 1.99% special rate for 9 months – will be expired in August 2015)
- Credit card 5: $2900 () (low interest credit card – 2.9% special rate for 6 months – will be expired in May 2015
- Credit card 6: $8900 () (low interest credit card – 0.99% special rate for 12 months – will be expired in August, 2015)
- Credit card 7: $300 () – New home related expenses (bought washer & dryer, other purchases) – high interest rate of 19.99%.
- (new) HELOC : $5000 (no change) -(low interest – 3.35% – primte + 0.5%)
Net worth :$95 100 () as of March 31, 2015
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 = 1.22 CAD
Another positive month in my Million dollar journey, and I feel happy as I am moving toward my goal.
My net worth increased from $40700 from my first update (March 10th update) to $95 100 to March 2015 which is 133.66% higher – average increase of $4533.33 per month. It is much more higher than my after tax day job monthly salary.
You might have noticed that my focus was on debts than buidling asserts. I will keep focus on reducing my debts to less than $300K.
Thank you so much for being in my finance journey
Good progress. Very glad to see your net worth at this young age.
Regards
Thank you Bill for your encouragement!
My goal is to reach financial freedom in
109 years and enjoy rest of the life.Cheers,
Hi,
I won’t invest using credit cards money like you. I’m very conservative when I come to money.
You are very positive in your approach. That’s why you are able to post positive gain every single month. My networth went to red for an an-expected expensive.
Keep inspire!
Selvi
Thank you Selviya for stopping by!
I totally understand that leverage investing is risky and it is not suitable for all type of investors. As long as you are in the right direction toward your financial freedom is fine.
I am so glad that I was able to post positive net worth update month over month.
Cheers,