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 increased by or in October 2019.
This is the tenth straight month of positive net-worth gain, thanks to my three paycheques month, massive dividend income and my online income.
Even though, my investment values slight declined last month I was able to record a positive gain because of my timing.
First, I had three paydays from my day job last month.
For those who receive a bi-weekly salary know that we receive three paycheques per month twice a year.
Second, I received over $1000 dividend income last month.
Besides, I received a couple of hundreds of dollars payments (online incomes) from this blog. I rarely discuss my online income here. A while ago, I discussed about it here.
A small recap – this small blog generates a few hundreds dollars per on average, mainly through Google Advertisements, and Amazon, Questrade and BlueHost Affiliate partnerships.
When users use the affiliate link to purchase services or products, I receive a small commission at no additional cost for the users. I would like to take this opportunity to Thank you this site readers for marking this possible.
You can start making a decent online income by discussing some topics that you are passionate about. If you are interested to starting your own blog here is the step-by-step guide.
Overall, my net-worth slightly increased from the previous month.
As of this writing, the stock markets are on fire and setting new all-time high records days after days.
Hopefully, I will be able to post another positive net-worth report next month – if these trends continue for the next couple of days.
Also, I am hoping to hit the $300K net-worth by end of the year.
However, investors’ sentiments may change rapidly and the markets dive in matter day or two.
I am looking to deploy more capital into the markets. I have some rooms for RRSP and TFSA contributions. Plus, TFSA limits get boosted in the new year.
Therefore, any market sell-offs create buying opportunities for me as I will be able to buy more income at a discounted price.
Until that, I am just enjoying the short-term paper gains. Also, I have been refinancing some debts to improve my buying power.
That’s it for now and see you in my next post.
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.
Let’s see the details in numbers:
Net worth update as of October 31, 2019 ()
Assets: $598 500 ()
- Cash: $900 ()
- Home: $286 100 (no changed) – Yearly adjustment with average inflation rate of 2% in every January
- Canadian Stocks: : $229 600 ( )
- U.S. Stocks: $42 500 ( )
- International Stocks: $11 200 ( )
- Employer’s Pension Plan: $28 200( )
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: $311 500 ( )
- Mortgage : $186 900 ( )
- Student loan: $8900 ( )
- Margin loan: $75 700 ()
- Credit card 1: $13 100 () (low interest credit card – 0.99% special rate for 12 months - will be expired in January 2020)
- Credit card 2: $4300 (no changed) (low interest credit card – 0.99% special rate for 12 months - will be expired in February 2020)
- Credit card 3: $0 ( PAID-OFF) (low interest credit card – 0.99% special rate for 12 months - will be expired in November 2019)
- Credit card 4: $7700 (no changed) - a new promotional offer at 1.99% special rate - expired in March 2020)
- Credit card 5: $600 ( ) - (low interest credit card – 1.99% special rate for 12 months - will be expired in October 2019)
- Credit card 6: $0 - (Expired in September 2019)
- Credit card 7: $600 () - (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 : $13 700 ( ) - (low interest credit card – 3.00% special rate for 12 months - will be expired in December 2019)
Net worth : $287 000 ( ) as of October 31, 2019
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 = 1.3148 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.
Hi FJ,
Heard that Altagas is suspending its DRIP Program. What do you make of it? And would you continue to hold and take dividends?
Hello SJ,
Thank you for stopping by,
Suspending DRIP program is actually a good new for shareholders because it shows that company doesn’t need to rely on selling to shares to fund its capital programs.
I don’t use DRIP in my portfolio, thus, there is no impact in my portfolio. I will continue to hold the stocks.
Best Regards,
Hi, I visit your website very often, and really appreciate your sharing.
Recently, I occasionally found your utility sector holdings are the top 8 stocks under XUT ETF.
If you do not mind sharing your opinion, would it be better to just hold XUT ETF instead of these 8 individual utility stocks?
Hi Ning,
Thank you for stopping by,
Wow, this is the first time I check XUT ETF and very surprise to I own their top 8 holdings in my portfolio. I think it is not a bad idea to own the ETF rather than individual stocks. However, FTS is the largest holding (20%), their MER is little high and distribution is inconsistent. Therefore, I would stick with my individual stocks. If I am just starting out, then I would consider owning ETFs than individual stocks for instant diversification purpose.
Please note that I am not a professional financial adviser or any sort of things. It is impossible to provide personalized advises without knowing your financial situations, risk tolerance or long-term goals.
Cheers,