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 Net-worth Update
My net worth decreased by $40 700 or 6.35% in June. It is the worst net worth drop by dollar value, but percentage-wise, march 2020 was the worst.
Net-worth change in June 2022
Assets value
My assets value down by $44 400.
My asset value down a lot from previous month due to overall market correction.
Liabilities
My debt also decreased by $3700.
My debts are still high, but it is manageable. I am not too worried about my total debts now. I moved most of my debts into a fixed-long term mortgage. Therefore, debts related costs and payments are more predictable and easy to handle.
And rising rate won’t negatively affect my debts in the near term
I have over $220 k available credits from margin loans and a line of credits. I won’t spend them on any unnecessary things.
I will only use my debts for assets purchases. If the market gives me opportunities, I will be happy to scoop up some assets.
Net-worth
Overall, my net worth was down by $40 700 or 6.35% in June.
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 from yours, and blindly copying my ideas may not benefit your life. Please do your research or discuss with qualified financial advisors before making any financial decisions.
June 2022 Net-worth Update
Net worth update as of June 30, 2022 ()
Assets: $1 047 500 ()
- Cash: $1100 ()
- Home: $402 900 (no change – It is adjusted with a 2% annual increment. 2%) –conservative estimated value
- Canadian Stocks: : $519 900 ( )
- Small-cap Portfolio: $6900 ( )
- U.S. Stocks: $59 800 ( )
- International Stocks: $11 200 ( )
- Employer’s Pension Plan: $45 700( )
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: $446 900 ( )
- Mortgage -1:$169 900 ( )
- Mortgage -2: $129 100 ( )
- Student loan: $4100 ()
- Margin loan: $143 300 ()
- Credit card 7: $500 () – (regular expenses)- high interest rate of 22.99%.)
Net worth : $600 600 ( ) as of June 30, 2022
My net worth down 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 = 1.2873 CAD
I have a huge credit card and margin 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.
Great post, sorry to hear about your asset drop, but it will come back in spades, I have no doubt!
I am glad to see you are sticking with your plan going forward. July has been a good month for stocks, so I hope you have also seen a bit of a receovery since your June numbers.
With the recent slowdown in the housing market, do you think you will have to reduce your home value this year, instead of sticking to your usual 2% increase in your calculations? Some markets seem do have dropped 5-10% this year. Depending on your area, it seems possible your home might end up dropping a similar amount this year. I am curious how you plan to deal with that in your calculations.
Wish you all the best with your investments going forward and I am sure some patience will see stocks recover eventually. Just a matter of how much longer inflation lasts and whether we end up with a recession or not.
All the best.
Hello Andre,
Thank you for stopping by,
I purchased my home in 2014, and its price has increased significantly since then.
I have been anticipating housing corrections for the last couple of years (for more than five years); thus, I didn’t increase my house price to match the average selling prices in our area. I only increased 2% per year while house prices increased by double digits over the last few years.
Even after these ongoing housing market corrections, my posted value is well below the average selling price in our areas. Therefore, there is no need to adjust my house value at this time.
Cheers,