Net worth update – February 2021

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.

February Net-worth Update

My net worth increased by $13 600 or 2.85% in February.

Last month, the value of my assets increased by $37 900 due to the new stock purchases and assets appreciation.

And my debts increased by $23 300 because I used some margin loans for the assets purchases.

Even though my overall debts value increased a lot for the last couple of months, my debt situation is much better because of my recent mortgage refinancing.

I secured a long-term fixed 2nd mortgage for a much lower rate. Therefore, my available cash-flow and credits increased by a lot.

Thus, I continue to have access to money, and I can take advantage of any opportunities that come my way.

As a middle-class and single-income earner, I use leverage approach to build my investment assets.

I built over a $445 000 investment portfolio using this strategy, and this portfolio generates over $17400 yearly passive income (estimated).

As I always say, leverage investing is very risky, and it is not suitable for everyone. If you don’t use it properly, it will destroy your wealth. Please do your research or discuss with qualified financial advisors before making any financial decisions.

Let’s see my net-worth in numbers.

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 research or discuss with qualified financial advisors before making any financial decisions.

February 2021 Net-worth Update

Net worth update as of February 28, 2021 (+2.85%)

Assets: $878 200 (+$37900)

• Cash: $600 (+$200)


• Home: $395 000 (no change) –conservative estimated value


• Canadian Stocks: : $368 400 ( +$27 100 )


• Small-cap Portfolio: $8200 ( +8200 )


• U.S. Stocks: $57 500 ( +$1600 )


• International Stocks: $11 700 ( +$300 )


• Employer’s Pension Plan: $36 800( +$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: $386 800 (-$24300 )

• Mortgage -1:$178 600 ( -$500 )


• Mortgage -2: $135 100 ( +$135 100)


• Student loan: $5400 ( -$100 )


• Margin loan: $52300 (-$58700)


• Credit card 3: $14800 (-$300) (low interest credit card – 0.99% special rate for 12 months – expires in November 2021)


• Credit card 7: $600 (no change) – (regular expenses)- high interest rate of 19.99%.



Paid-off loans

• Credit card 1: $0 ( no change )


• Credit card 2: $0 (no change)


• Credit card 4: $0 (no changed ) – a promotional offer at 1.99% special rate – expired in March 2020)


• Credit card 5: $0 (no change)


• Credit card 6: $0 – (no changed


• Line of Credit 1 : $0 (-$12 200 ) – (low interest credit card – 2.99% special rate for 12 months – will be expired in January 2021)



• Line of Credit 2 : $0 (no change) – (Paid-off using HELOC)


• Line of Credit 2 (HELOC) : $0 (-$39000 ) – (Interest rate – 2.95% )

Net worth : $491 400 ( +$13600) as of February 28, 2021

My net worth was up by +2.85% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.265 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.