Net worth update – February 2019

Welcome to my first net-worth update for the year 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 was up by $24 300 or 11.88% in January 2019.

My net worth rebounded sharply after the massive drop in December – increased by $24 300 in a single month, thanks to Canadian stock market performance.

So far, it is my record net-worth gain in a month.

It may look amazing gain for some of you, but it is not.

I will tell you why.

My net-worth up by $24 300 in January. When you subtract December drop of $12 100 and house price appreciation of $5600 from it, then my actual gain is just $6600.

So, it is just an average gain if you just look at the numbers for last 3 months.

Anyways, my net-worth back on track, and keep moving forward toward my long-term financial goal.

My overall portfolio value is getting close to $250K. So, these types of gains & losses will be pretty normal in my journey.

House price appreciation

As many of you already know, I adjust my house price every January by 2% – with the average inflation rate.

My house value is much higher than the price I posted here; but I wanted to be more conservative with my house value because there are a lot of uncertainties surrounding with Canadian housing market.

Debts

I was able to reduce some debts last month as I didn’t make any massive assets purchases.

The stocks markets have been performing well in February as well. Therefore, I better be quite and focus on debt reduction so I could buy more stocks when they hit in next market down cycle.

Dividend growth

My big holdings have posting their quarter results and hiking their dividends in February

As a result, my estimated passive income increased by a couple of hundreds dollars in February alone.

The compounding effect starts to work for me. I can experience it.

Looking forward to update the information in the coming days.

Now let’s see all the details in numbers:

Net worth update as of January 31, 2019 (+11.88%)

Assets:$550 300 (+$23000 )

• Cash: $700 (-$400)


• Home: $286 100 (+$5600) – Yearly adjustment with average inflation rate of 2% in every January


• Canadian Stocks: : $197 400 ( +$16200 )


• U.S. Stocks: $43000 ( +$1100 )


• Employer’s Pension Plan: $23 100( +$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: $321 400 (-$1300 )

• Mortgage : $171 300 ( -$400 )


• Student loan: $17 300 ( -$600 )


• Margin loan: $66 800 (+$1000)


• Credit card 1: $0 (-$400) (low interest credit card – 1.99% special rate for 8 months – will be expired in January 2019)


• Credit card 2: $0 (no change) (low interest credit card – 2.99% special rate for 12 months – will be expired in January 2019)


• Credit card 3: $18 100 ( -$200 ) (low interest credit card – 0.99% special rate for 12 months – will be expired in November 2019)


• Credit card 4: $13 700 (no change) – a promotional offer at 0.99% special rate – will expire in February 2019)


• Credit card 5: $2900 ( -$100 ) – (low interest credit card – 1.99% special rate for 12 months – will be expired in October 2019)


• Credit card 6: $10 900 ( -$100 ) – (low interest credit card – 0.99% special rate for 12 months – will be expired in September 2019)


• Credit card 7:$800 ( -$400 ) – (regular expenses)- high interest rate of 19.99%.


• Line of Credit 1 :$19600 ( -$100 ) – (low interest credit card – 3.00% special rate for 12 months – will be expired in December 2019 – renewed recently for another 12 months)


• HELOC: $0

Net worth : $228 900 ( +$24 300 ) as of January 31, 2018

My net worth was up by +11.88% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.3144 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.