Net worth update – November 2022

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.

May Net-worth Update

My net worth increased by $23 200 or 3.80% in November 2022.

Net-worth change in November 2022

Assets value

My assets value up by $21 200, due to the recent stock purchases and market rebounds.

Liabilities

My debt decreased by $2000.

My debts are very 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 $200 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 up by $23 200 or 3.80% in November.

Let’s see my net-worth in numbers.

As I always say, I am here just 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.

November 2022 Net-worth Update

Net worth update as of November 30, 2022 (3.80%)

Assets: $1 128 600 (+$21 200)

• Cash: $900 (+$300)


• Home: $402 900 (no change – It is adjusted with a 2% annual increment. 2%) –conservative estimated value


• Canadian Stocks: : $589 600 ( +$16 000 )


• Small-cap Portfolio: $4300 (-$200 )


• U.S. Stocks: $70 300 ( +$3400 )


• International Stocks: $12 100 (+$1200 )


• Employer’s Pension Plan: $48 500( +$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: $494 400 (-$2000 )

• Mortgage -1:$167 000 ( -$600 )


• Mortgage -2: $127 300 ( -$300)


• Student loan: $3700 (-$100)


• Margin loan: $167 000 (+$500)


• Credit card 1: $14300 (-$200) – (Low interest promotion offer for 10 months at rate of 0.99% – expire in May 2023)


• Credit card 2: $14700 (-$1200) – (Low interest promotion offer for 6 months at rate of 3.99% – expire in April 2023)


• Credit card 7: $400 (-$100) – (regular expenses)- high interest rate of 22.99%.)

Net worth : $634 200 ( +$23 200) as of November 20, 2022

My net worth up by +3.80% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.3543 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.