Net worth update – September 2019

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 $6200 or 2.34% in August 2019.

The eighth straight month of positive net-worth gains, thanks again to the stunning performance of my dividend portfolios.

August was a highly volatile month for the stock market; however, my dividend portfolios performed well later part of the month, and put my net-worth into the green.

As of this writing, the stock markets have been trading at or near a record high, especially the Canadian market has been setting a new high for the last few days.

Thus, as usual, I did not deploy new capital into the market in September but just reinvesting a portion of dividend receive in my registered accounts and adding some positions. And, a portion of dividend I received in my non-registered account reduce some debts to improve my buying power.

Also, I sold one position and initiated a new one in one of my registered account (very small position). I will post more details about this trade in my next portfolio update post.

As I mentioned in my last post, I refinanced my mortgage for a much lower rate for a 5-year fixed term.

My initial plan was to pay-off my student loan completely using the cash received from the mortgage refinanced.

But, I only paid a small portion of my student loan and used the rest of the cash for some credit cards debt payments as their lower rate promotion periods coming end soon. Once they are paid-off, I can refinance them with new offers and pay-off my student loan later.

Hopefully, my student loan, an interest rate of 6.45%, will be paid off by the end of this year. It is the highest rate I pay. I am looking forward to eliminating from my debt list.

I am just circulating the money to improve my cash-flow and sharpening my buying power so I could take advantage if I get any buy opportunities.

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 August 31, 2019 (+2.34%)

Assets: $593 100 (+$10 500 )

• Cash: $4700 (+$3900)


• Home: $286 100 (no changed) – Yearly adjustment with average inflation rate of 2% in every January


• Canadian Stocks: : $224 200 ( +$5900 )


• U.S. Stocks: $40 900 ( -$800 )


• International Stocks: $10 300 ( +$1000 )


• Employer’s Pension Plan: $26 900( +$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: $321 500 (+$4300 )

• Mortgage : $188 000 ( +$19700 )


• Student loan: $11300 ( -$1200 )


• Margin loan: $75 400 (+$2000)


• Credit card 1: $13 200 (-$100) (low interest credit card – 0.99% special rate for 12 months - will be expired in January 2020)


• Credit card 2: $4400 (-$100) (low interest credit card – 0.99% special rate for 12 months - will be expired in February 2020)


• Credit card 3: $5700 ( -$11 200) (low interest credit card – 0.99% special rate for 12 months - will be expired in November 2019)


• Credit card 4: $7800 (no changed) - a new promotional offer at 1.99% special rate - expired in March 2020)


• Credit card 5: $800 ( -$400 ) - (low interest credit card – 1.99% special rate for 12 months - will be expired in October 2019)


• Credit card 6: $0 ( -$3800 ) - (Expired in September 2019)


• Credit card 7: $1000 ( -$500 ) - (regular expenses)- high interest rate of 19.99%.


• Line of Credit 1 : $13 900 ( -$100 ) - (low interest credit card – 3.00% special rate for 12 months - will be expired in December 2019)

Net worth : $271 600 ( +$6200 ) as of August 31, 2019

My net worth was up by +2.34% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.3312 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.