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.
April 2020 Net-worth Update
My net worth increased by $21 200 or 8.0% in April 2020, but it is still $30 000 lower than my all-time high set in January.
Therefore, my net-worth needs to increase by $10.5% to reach its previous high.
Last month, all three portfolios (Canadian, U.S and International) portfolios gained some value after the March sell-off.
Besides, I received three paychecks from my day-job salary. Those receive bi-weekly checks know that we receive three paychecks two times a year.
On top of that, our expenses were down significantly due to the lockdown.
For the majority of the month, I work from home, so I did not purchase my monthly bus pass.
Also, we did not go for any entertainment or dine-in, and we did not have any other unnecessary expenses.
My wife learned to cook some delicious foods and snacks using the tutorials from YouTube. Thus, our spending will be low even after these health issues (hopefully).
Plus, less travelling. We used our car for grocery shopping only and did not need to fill gas for the entire month. We usually spend around $250 to $300 for gas.
Moreover, my debts servicing charges are at a record low because of the near-zero interest rate and smaller total liabilities.
Therefore, we were able to save a decent amount of money last month and invested in stocks and paid down some debts.
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 than yours and blindly copy my ideas may not benefit for your life. Please do your own research or discuss with qualified financial advisors before may any decisions.
April 2020 Net-worth Update
Net worth update as of April 30, 2020 ()
Assets: $531 800 ()
- Cash: $400 ()
- Home: $291 900 (no changed) – Yearly adjustment with average inflation rate of 2% in every January
- Canadian Stocks: : $150 200 ( )
- U.S. Stocks: $48 400 ( )
- International Stocks: $9400 ( )
- Employer’s Pension Plan: $31 500( )
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: $245 800 ( )
- Mortgage : $183 700 ( )
- Student loan: $5800 ( no changed )
- Margin loan: $9200 ()
- Credit card 1: $0 (paid-off - no changed) (low interest credit card – 0.99% special rate for 12 months - expired in January 2020)
- Credit card 2: $9900 () (low interest credit card – 0.99% special rate for 12 months - will be expired in February 2021)
- Credit card 3: $0 (paid-off) (low interest credit card – 0.99% special rate for 12 months - expired in November 2019)
- Credit card 4: $0 (paid-off ) - a promotional offer at 1.99% special rate - expired in March 2020)
- Credit card 5: $0 (paid-off) (low interest credit card – 0.99% special rate for 12 months - expired in October 2019)
- Credit card 6: $14100 - ( - a new promotional offer at 0.99% special rate - expired in November 2020)
- Credit card 7: $200 () - (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 : $13 100 ( ) - (low interest credit card – 2.99% special rate for 12 months - will be expired in January 2021)
- Line of Credit 2 (HELOC) : $9800 ( ) - (Interest rate – 2.95% )
Net worth : $286 000 ( ) as of April 30, 2020
My net worth was 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 = 1.3914 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.
Thank you so much for following my finance journey and for your great support.
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