This is my fourth net worth updates report for the year 2016. For those new to my finance journey, net worth update is a simple report I post 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 in 10 years by saving and investing in stable dividend paying blue-chip companies.
In April 2016, my net worth decreased by $200 or 0.15% due to some expenses and stock market performance.
We spent around $275 to buy a quality front-facing car seat for our little one.
We would have purchased something for less than $150. But we travel a lot, so babies need a comfortable seat to sit/sleep for long travels. We spent little extra money ($125 more) to buy a quality one.
We really made a good choice with this car seat. He is enjoying the ride with us 😀 .
We also spent around $200 for car regular maintenance – engine & transmission oil change and break-pad clean up after winter season. We are getting ready to go for few road trips for this summer 😀 .
Nowadays my net worth gain (or loss) is more depending on my investments performance.
A few years ago, when I had a small portfolio, my net worth gain was depending to my saving rate from day jobs. So, I was able to post gain for almost all the time.
Now my investments have grown above $190K. Even an one percent move makes big different in my net worth 😀 .
Another big contributor to my net worth is dividend income. I received over $640 dividend in April 2016 from more than 30 high quality companies and ETFs.
Now, let’s look at my net worth in numbers.
Last month, my net worth decreased by $200 or 0.15% from my last update.
Year-to-day gain is $19 000.
Net worth update as of April 30, 2016 ()
Assets:$463 900 )
- Cash: $500 ()
- Home: $270 000 (no change) – Yearly adjustment with inflation
- Canadian Stocks: :$153 300 ( )
- U.S. Stocks:$35300 ()
- Employer’s Pension Plan: $4800()
Liabilities:$336 000 ()
- Mortgage :$187 300 ()
- Student loan: $25 900 ()
- Margin loan:$61300 ()
- Credit card 1:$8600 (no change) (low interest credit card – 0.99% special rate for 10 months – will be expired in September 2016)
- Credit card 2:$9900 () (low interest credit card – 0.99% special rate for 12 months – will be expired in March 2017)
- Credit card 3: $24 300 (no change) (low interest credit card – 0.99% special rate for 10 months – will be expired in November 2016)
- Credit card 4: $0 ()
- Credit card 5: $0 (no change)
- Credit card 6: $0 () (low interest credit card – 1.99% special rate for 6 months – will be expired in April 2016)
- Credit card 7:$500 () – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 : $11 000() – (low interest credit card – 2.99% special rate for 12 months – will be expired in April 2017)
- HELOC:$7200 () – (low interest of 3.35% – primte + 0.5%)
Net worth :$127 900 () as of April 30, 2016
My net worth down 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 = 1.28 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 being in my finance journey and for your support.
Please note: This post contains affiliate links
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Are you not worried about the high levels of debt that you are carrying, regardless of the interest rates? By my calculation you have 122,800 in consumer debt (not including mortgage or student loan), and it looks like you use credit to pay credit (LOC 1 to pay off CC 4+6). I imagine you are using the credit to purchase stocks, this seems very risky to me. Having said that, overall i like your site and the journey you are on. Good luck!
Hi Dividender,
Thank you for stopping by!
As you mentioned, I am taking some risk to build my portfolio. I wouldn’t have build my assets without the leveraged approach.
I think I have a wonderful credit history. That’s why I am getting ultra low interest rate for balance transfer. Now, I am thinking to stop taking more debts and slowly paying down debts.
Cheers,
was searching on google about what stock to buy for high dividend, and found your website, spend few hours reading it and this is amazing, thank you for sharing all your wealth personal info, your net worth from 40000 up to 120000 in 2 years, Im sure you can reach you goal after 10 years! This is also something I want to start with, Im kind a new into the stock market, right now I have $45000 on TFSA to play with any suggestion on what to start with? I see your dividend portfolio you have like 100 stocks on many difference company, is it better to do it this way than putting everything into one company? email me if you don’t mind 😀
thanks
Hello Michael,
Thank you for stopping by,
Actually, I am not comfortable to recommend stocks for readers. As I always say, do your own research or discuss with your financial advisor before making any investment decisions. As you mentioned, it would be great to own many different (high quality dividend paying) companies than investing in just one or two stocks. Good luck in your journey.
Cheers,
It’s nice to see someone else on this journey.
I track my net worth on a monthly basis, but find tracking my passive monthly income a a percentage of expenses as a better metric. I find this to be a better motivator for investment decisions rather than simply growing equity as passive income results in longer term wealth.
Hello Mike,
Thank you for stopping by and your suggestions,
I will consider your approach in the future. Thanks again
Best regards,
Hi There, Accidentally, came across your side. Quite interesting, how diligently you have been following your goal. It sure needs lots of discipline. Else, there has been big swings in the market, especially that terrible crash from 2015. Getting an average return of around 4%, is very good, considering, bank interest rates are next to nothing. I have a question, as to how do manage to buy such small number of stocks, without incurring huge commissions?
Hello Jay,
Thank you for stopping by, I use Questrade for all the small purchases. You could buy ETFs for free and stocks for as low as $4.95.
Cheers,
Interesting to see that you are taking advantage of the promos ,for some reason i never looked into that aspect.
Hi Desi Dividend,
Thank you for stopping by,
It was one of my good move. Actually, for some debts I pay 0% interest 😀 .
Best Regards,