Welcome to my last net-worth update for the year 2018.
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 was down by or in December 2018.
It was the worst net-worth drop in a month in my journey, but it was all expected when it comes to investing in the stock market.
To be honest, it wasn’t fun to watch when my portfolio value drops by a couple of thousand dollars for every single day, especially when I was on a holiday. It is human nature.
But, I didn’t lose my sleep as I was mentally and financially prepared to meet these types of situations. In fact, I deployed more money and acquired some assets at discounted prices.
Also, larger dividends I received in December gave some reliefs during the market sell-off. And, I was able to deploy those dividends to buy more income, which gave a little boost to my compounding growth.
Volatile is a normal characteristic of stock markets. If you learn to live with it, then you will be doing fine in a long-run.
This is what I learn for the last couple of the years of my journey. It is easier said than done, but the gains and losses are just on paper until you really push the sell buttons.
My portfolios hit the low on December 24 (Christmas Eve) and started to move higher since then.
Last three days of the year (Santa Claus rally), my portfolio gained by over $6000, and it is keep growing almost every single day.
My net-worth completely recovered in January and keeps moving higher and higher. If the trends continue, I will be posting the biggest net-worth gain for my next update.
It is absolutely impossible to predict what will happen to the market for tomorrow, next week or next year. But, over the long-run market most likely trading at a higher price than today (based on past history).
I invest for long-term and I am still in buying stages. In other words, I am a net buyer and keep looking opportunities to add income generating assets to my portfolios.
So, I have no plan to sell my stocks if the market rises 10% or 20% next month. But, most likely, I will be buying stocks if their prices drop significantly.
Let’s see all the details in numbers:
Net worth update as of December 31, 2018 ()
Assets: $527 300 ( )
- Cash: $1100 ()
- Home: $280 500 (no change) – Yearly adjustment with average inflation rate of 2%
- Canadian Stocks: : $181 200 ( )
- U.S. Stocks: $41 900 ( )
- Employer’s Pension Plan: $22 600( )
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: $322 700 ( )
- Mortgage : $171 700 ( )
- Student loan: $17 900 ( )
- Margin loan: $65 800 ()
- Credit card 1: $400 () (low interest credit card – 1.99% special rate for 8 months – will be expired in January 2019)
- Credit card 2: $0 (no change) (low interest credit card – 2.99% special rate for 12 months – will be expired in January 2019)
- Credit card 3: $18 300 ( ) (low interest credit card – 0.99% special rate for 12 months – will be expired in November 2019)
- Credit card 4: $13 700 (no change – a promotional offer at 0.99% special rate – will expire in February 2019)
- Credit card 5: $3000 ( ) – (low interest credit card – 1.99% special rate for 12 months – will be expired in October 2019)
- Credit card 6: $11 000 ( ) – (low interest credit card – 0.99% special rate for 12 months – will be expired in September 2019)
- Credit card 7:$1200 ( ) – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 :$19700 ( ) – (low interest credit card – 3.00% special rate for 12 months – will be expired in December 2019 – renewed recently for another 12 months)
- HELOC: $0
Net worth : $204 600 ( ) as of December 31, 2018
My net worth was 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 = 1.3642 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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