This is my third net-worth updates report for the year 2017. 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 by December 2024 (10 year plan) by saving and investing in stable dividend paying blue-chip companies.
I am posting all my financial information in 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 IQ.
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 publickly track my progress and get valuable advice from like-minded people.
In March 2017, my net worth increased by $5200 (+3.13%), thanks to my Canadian dividend portfolio.
As many of you know, my net worth is more depending on the performance of my investment assets than my saving/spending rate.
Because of my lower middle-class income salary, saving a few dollars here and there won’t make a big different in my net worth, but a small percentage changes in my investment assets will give a big impact in my net worth.
Therefore, my net worth is not easily predictable. For last couple of months, it is moving in the positive direction. Hopefully, this trend will continue.
As I pointed-out in my last net worth update, I made the semi-annual payment for my home property tax; however, it did not impact in my net worth due to the good performance in my investment assets.
I have been getting big bills every month. In April, I had to change all season tires for my car. It costs around $800 in my April budget. Now I have new winter & summer tires. Hopefully, they will last for another 5+ years.
Currently, I am busy in re-financing my debts to lowest rate possible. Thus, I am moving some loans from high interest rate (4.25%) to ultra-low rates (0.99%).
And, I am planning to try-out Interactive online broker. It doesn’t mean I am going to close my accounts in other two online brokers. Actually, I just want have my investments in few different places to avoid unpleasant surprises of technologies.
Now let’s talk about my net worth and finacial details in numbers
Last month, my net worth increased by $5200 or +3.13% from my last update.
Net worth update as of March 31, 2017 ()
Assets: $497 600 ()
- Cash: $1000 ()
- Home: $275 000 (no change) – Yearly adjustment with average inflation rate of 2%
- Canadian Stocks: : $170 200 ( )
- U.S. Stocks:$40 500 ()
- Employer’s Pension Plan: $10 900()
Liabilities:$326 100 ()
- Mortgage :$182 100 ()
- Student loan: $23 800 ()
- Margin loan:$80 600 ()
- Credit card 1:$8100 () (low interest credit card – 0.99% special rate for 10 months – will be expired in September 2017)
- Credit card 2:$0 (paid-off)
- Credit card 3:$0 (paid-off)
- Line of Credit 4: $8800 () (low interest balance transfer – 2.99% special rate for 12 months – will be expired in May 2017)
- Credit card 5: $3000 (no change) – (low interest credit card – 1.99% special rate for 10 months – will be expired in November 2017)
- Credit card 6:$800() – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 :$11 000 () – (low interest credit card – 2.99% special rate for 12 months – will be expired in February 2018)
- HELOC:$7800 () – (low interest of 3.20% – primte + 0.5%)
Net worth :$171 500 () as of March 31, 2017
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 = 1.345 CAD
I really excited to see these numbers as my total assets value is getting close to half a million dollar 😀
I have a huge credit card debts because I take advantage of low balance transfer promotion rate and invest in high quality dividend stocks. Learn, earn, save,invest and leverage your skills are the keys to become wealth.
Thank you so much for being in my finance journey and for your support.
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Finance Journey –
Keep up the track upwards, try to negotiate on your tires, if you can, negotiations are key!!
-Lanny
Hi Lanny,
Thank you for stopping by,
I love to see the progress going in the positive direction…
Cheers,
While your biggest monthly change to your account is the amount the stock market changes, it is still important to save. Although, it will be a good day when monthly changes in my account are worth more than my savings rate.
Hi Dvidend Monkey,
Thank you for stopping by,
Sometimes I try to save, but it is little hard to do with little kid because we always have some unexpected expenses. I have a sizable investment assets now. I hope they will perform well over long-term.
Best Regards,
Congrats on getting close to the half-million mark. It’s a big accomplishment.
Hi IH,
Thank you, but I have a very long way to hit one million dollar net worth 🙂
Best Regards,
Hi Again FJ, you are building wealth nicely, well done.
On the debt & credit card arbitrage positions that you have with the several revolving CC’s/line of credits/equity loans, have you looked at or considered consolidating as many of those as possible to one of those 0% interest 12 months balance transfer cards similar to the MBNA?
Reason I post this is because several years ago my son had one of those which at the time was 0%/18 months. Close to it’s expiry date while he had the current card, he applied for another MBNA 0% interest 12 months card which he was given $3000. He then transferred the balance from the $10,000 card to the $3000 card that now gave him $13,000 0% 12 months. On the next anniversary he repeated one more time. Of course 1% balance transfer fee + minimum $100/mth payment applies.
Hello John,
I already have two MBNA credit cards with limit over $22 000. I am doing exactly what your son does with those credit cards. As you said, my only concern is that 1% of the balance transfer fee. I also have Scotia visa, Amex , TD visa and RY Visa.
Thank you for sharing..
Cheers,
Very nice. Must be a great feeling seeing that net worth increase month after month.
Hello Buy Hold Long,
Thank you for stopping by,
It is my dream to hit 1 million dollar target.
Cheers,