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 September 2019.
The ninth straight month of positive net-worth gains, thanks to my dividend portfolio performance.
Last month, the value of my asset increased by $6000, mainly due to the performance of my investments.
Meanwhile, my debt amount was reduced by $6000 using the cash available from recent mortgage refinanced, dividend income from my non-registered accounts and also from my savings.
As a result, I am in a good position to take advantage of any market correction or slow down due to the decade bull market.
The markets have been continuing trading at or near all-time high in October. Thus, I didn’t deploy new capital to the markets now, and I have been paying down my debts to improve my purchasing power.
At the same time, I have been continuing to reinvesting my dividends to avoid any interruption in the compounding growth.
As many financial experts say, timing the stock market is almost impossible. So, it is always better to be prepared for any surprises in the markets.
From time to time, the markets provide opportunities for patient investors, especially for those investors with a longer-term approach. I hope that I am in a good position to take advantage of those 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 September, 2019 ()
Assets: $599 100 ()
- Cash: $1500 ()
- Home: $286 100 (no changed) – Yearly adjustment with average inflation rate of 2% in every January
- Canadian Stocks: : $231 400 ( )
- U.S. Stocks: $42 000 ( )
- International Stocks: $10 700 ( )
- Employer’s Pension Plan: $27 400( )
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: $315 500 ( )
- Mortgage : $187 600 ( )
- Student loan: $9000 ( )
- Margin loan: $75 000 ()
- Credit card 1: $13 200 (no changed) (low interest credit card – 0.99% special rate for 12 months - will be expired in January 2020)
- Credit card 2: $4300 () (low interest credit card – 0.99% special rate for 12 months - will be expired in February 2020)
- Credit card 3: $3200 ( ) (low interest credit card – 0.99% special rate for 12 months - will be expired in November 2019)
- Credit card 4: $7700 () - a new promotional offer at 1.99% special rate - expired in March 2020)
- Credit card 5: $700 ( ) - (low interest credit card – 1.99% special rate for 12 months - will be expired in October 2019)
- Credit card 6: $0 ( Paid-off) - (Expired in September 2019)
- Credit card 7: $1000 (no changed) - (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 : $13 800 ( ) - (low interest credit card – 3.00% special rate for 12 months - will be expired in December 2019)
Net worth : $283 600 ( ) as of September 30, 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 = 1.3247 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.
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