Net worth update – August 2019

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.

My net-worth

My net-worth increased by $5900 or 2.27% in July 2019.

The seventh straight month of gain, thanks again to the stunning performance of the stock markets.

However, things are getting changed in August as markets continue to swing for the last couple of weeks based on Fed comments, tweets, political and trade tensions.

Of course, my investment portfolios are not immunes to handle the volatilities and taking the hit and rise almost everything single days.

As a result, the value of my portfolio has been moving up and down by thousands of dollar daily; however, stays and rises with new purchases and dividend growth announcements.

Especially, Canadian banking stocks, my largest sector, have been taking hit recently due to the slowing economic growth and recession fear.

This downward pressure on the bank stocks leads to pushing their dividend yields to higher, and a few banks are yielding more than 5 percent.

The financial sector is one of the largest sectors in my portfolio, but I could not ignore the opportunities to buy them at this lower price.

Therefore, I am planning to add some positions in the coming days depends on the situations and fund availabilities.

For the last couple of months, I hesitated to deploy new capital in the rising market. I was just reinvesting the dividend to enjoy the uninterrupted compounding growth, and sharpening my buying power using my saving.

Now, there are a lot of juicy yields to choose from high-quality blue-chip stocks. Therefore, I may have the opportunities to buy them in the coming weeks and months.

I understand that I have to accept the short-term capital risk if recession risks arise, but my dividend income keeps the flow, and over the long run, stock prices rise if their earnings and dividends are growing.

Besides, I am a buy-and-hold dividend growth investor focused on income, and I do a very little trading. Therefore, short-term share price moves don’t really benefit me.

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.

Let’s see the details in numbers:

Net worth update as of July 31, 2019 (+2.27%)

Assets: $582 600 (+$5300 )

• Cash: $800 (-$200)


• Home: $286 100 (no changed) – Yearly adjustment with average inflation rate of 2% in every January


• Canadian Stocks: : $218 300 ( +$3900 )


• U.S. Stocks: $41 700 ( +$2300 )


• International Stocks: $9 300 ( -$1200 )


• Employer’s Pension Plan: $26 400( +$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: $317 200 (-$600 )

• Mortgage : $168 300 ( -$400 )


• Student loan: $12 500 ( -$100 )


• Margin loan: $73 400 (+$1300)


• Credit card 1: $13 300 (no changed) (low interest credit card – 0.99% special rate for 12 months – will be expired in January 2020)


• Credit card 2: $4500 (no changed) (low interest credit card – 0.99% special rate for 12 months – will be expired in February 2020)


• Credit card 3: $16 900 ( -$200 ) (low interest credit card – 0.99% special rate for 12 months – will be expired in November 2019)


• Credit card 4: $7800 (-$100) – a new promotional offer at 1.99% special rate – expired in March 2020)


• Credit card 5: $1200 ( -$600 ) – (low interest credit card – 1.99% special rate for 12 months – will be expired in October 2019)


• Credit card 6: $3800 ( -$1300 ) – (low interest credit card – 0.99% special rate for 12 months – will be expired in September 2019)


• Credit card 7: $1500 ( +$900 ) – (regular expenses)- high interest rate of 19.99%.


• Line of Credit 1 : $14 000 ( -$100 ) – (low interest credit card – 3.00% special rate for 12 months – will be expired in December 2019)

Net worth : $265 400 ( +$5900 ) as of July 31, 2019

My net worth was up by +2.27% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.3146 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. Learn, earn, save,invest and leverage your skills are the keys to become wealth.

Thank you so much for following my finance journey and for your great support.