Net worth update – April 2016

A journey to become a self-made millionaire.

This is my third net worth updates report for the year 2016. For those new to my finance journey, 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 financial goal is to become a self-made millionaire in 10 years by saving and investing in stable dividend paying blue-chip companies.

March 2016 was an amazing month for my stock portfolio after two months of bumpy start.

I didn’t make any new purchases in March, in fact I sold CNQ to in order to reduce volatility in my portfolio.

But, my portfolio made a paper gain of over $10 000 in a single month. Wow!

Yes, wow!

Amazing capital gain!

I was excited, but not too excited.

Because capital paper gain is not real until you take-off the profit from the table, but dividend income is real. Pure cash!

I received over $775 dividend in March 2016 from more than 40 high quality companies & ETFs.

I had a big bill expense was in last month. Yes, I paid half-year property tax of $1200, it was due in March. I don’t make monthly payments for my property tax.

I pay debts instead of making monthly property tax payment, and pay lump sum using debts when I get close to semi-annual date. So, I could save small amount from interest charge.

Now, let’s look at my net worth changes in numbers.

Last month, my net worth increased by $11 000 or 9.39% from my last update.

Year-to-day gain is $19 200.

Net worth update as of March 31, 2016 (9.39%)

Assets:$461 300 +$9800)

• Cash: $900 (+$200)


• Home: $270 000 (no change) – Yearly adjustment with inflation


• Canadian Stocks: :$150 700 ( +$8600) – Organic gain


• U.S. Stocks:$35400 (+$500)


• Employer’s Pension Plan: $4300(+$500)

Liabilities:$333 200 (-$1200)

• Mortgage :$187 700 (-$400)


• Student loan: $26 000 (-$300)


• Margin loan:$54800 (-$6200)


• Credit card 1:$8600 (-$100) (low interest credit card – 0.99% special rate for 10 months – will be expired in September 2016)


• Credit card 2:$10100 (+800) (low interest credit card – 0.99% special rate for 15 months – will be expired in March 2016)


• Credit card 3: $24 300 (-$100) (low interest credit card – 0.99% special rate for 10 months – will be expired in November 2016)


• Credit card 4:$7100 (+$7100) (low interest credit card – 0.99% special rate for 10 months – will be expired in November 2016)


• Credit card 5: $0 (no change)


• Credit card 6: $4300 (-$200) (low interest credit card – 1.99% special rate for 6 months – will be expired in April 2016)


• Credit card 7:$0 (no change) (paid off).


• Credit card 8:$0 (-$1800) – (regular expenses) – high interest rate of 19.99%.


• HELOC : $10 300(no change) -(low interest – 3.35% – primte + 0.5%)

Net worth :$128 100 (+$11000) as of March 31, 2016

My net worth up by 9.39% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.28 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. Taking modest risk and leveraging are the keys to become wealth.

Thank you so much for being in my finance journey and for your support.

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