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.
June 2020 Net-worth Update
My net worth increased by $1700 or 0.58% from the previous update. It is a tiny increase compare to the recent month updates.
My portfolios almost stayed the same as the previous month, so the actual gain came from my savings.
Due to the current situation, our saving rate has increased significantly in the last couple of months.
I continue working from home, so my travel expenses (bus pass, etc.) are almost zero.
We don’t travel much as there is no place to go, so our car and gas and other travel-related expenses are very low.
Also, we don’t go out for dining or any other entertainment.
Therefore, we have been saving a good amount of money now.
We are redirecting my savings either to pay down debts or for investments. Both options are good for my net worth gains.
The stock markets are at or near an all-time high, thanks to the tech rallies.
Still, there are so many companies that have been trading at attractive prices due to the fear of recession.
The big tech and a few health care stocks drive the U.S and Canadian markets to high. I have an indirect exposure in a couple of tech stocks via some of my ETFs. However, the majority of my investments are in Canadian dividend growth stocks.
Due to the low exposure in those high flying stocks, my portfolios didn’t enjoy the rally as much as the markets did.
I feel that some tech stocks are way overvalued, and they don’t meet my investment criteria.
I understand that I may miss some rally in high flying stocks, but I am not going to invest in those stocks anytime soon.
And, I am purposely avoiding any massive corrections in the sector.
I will stick with my approach.
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 own research or discuss with qualified financial advisors before may any decisions.
June 2020 Net-worth Update
Net worth update as of June 30, 2020 ()
Assets: $574 100 ()
- Cash: $800 ()
- Home: $291 900 (no changed) – Yearly adjustment with average inflation rate of 2% in every January
- Canadian Stocks: : $189 600 ( )
- U.S. Stocks: $49400 ( )
- International Stocks: $9900 ( )
- Employer’s Pension Plan: $32 500( )
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: $278 100 ( )
- Mortgage :$182 800 ( )
- Student loan: $5800 ( no changed )
- Margin loan: $33200 ()
- 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: $9700 () (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: $18900 () (low interest credit card – 0.99% special rate for 12 months - expire in May 2021))
- Credit card 6: $13800 - ( - a 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 : $12 900 ( ) - (low interest credit card – 2.99% special rate for 12 months - will be expired in January 2021)
- Line of Credit 2 (HELOC) : $800 ( ) - (Interest rate – 2.95% )
Net worth : $296 000 ( ) as of June 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 = 1.3618 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.
FJ,
I’m gonna totally agree with you with the tech sector. There isn’t a good deal with tech stocks anywhere. Maybe Intel, since it’s been recently over-sold. But even Apple is way overvalued, you just gotta look at the dividend to see that.
One place I’m finding good deals is the Canadian telecoms. They’ve sold off quite a bit, and haven’t rebounded. With more Canadians going back to work, and with 5G rolling out, this would be the place I’d invest. Plus most telecoms have a 5% yield, which if the price doesn’t go up, you still win through compounding.
Another sector I like is the Utilities like Emera, Fortis, and Algonquin. They maybe more fairly valued than the telecoms, but they seem to be pretty stable, with great dividends. I think green energy is gonna be the place to invest in very soon. And a great place to park your money in a low interest rate environment.
I also like a lot of Consumer Discretionary companies. Companies like Canadian Tire, and Leon’s Furniture Ltd. who have been hit hard by covid-19, and quite undervalued. For the long term, they pay good dividends, and with dividend growth.
Anyway, that’s just my two cents. I like the look of your dividend portfolio. It’s quite similar to mine. I’m curious to see what your sector balance weighing is?
Justin
Hello Justin,
Thank you for stopping by and sharing your ideas with us!
Always glad to meet similar mindset people :). I am on the same boat about the tech sector. I feel there will be a significant correction in the industry, while others will perform well. My prediction may be wrong. Anyways, I will be okay with my boring companies as they continue sending growing cash dividends every quarter.
I like the Canadian telecom and utilities. In fact, I bought a large number of shares in Algonquin recently.
Thank you once again
Best Regards,