Net worth update – May 2023

Net-worth update – May 2023

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

Net-worth change in May 2023

Assets value

My assets value down by $33 400.

I sold 76 shares of QSR.TO in May. Also, financial and energy stocks were down.

However, ny asset value has been growing faster for the last few months with assets appreciation, dividend reinvestment and new assets purchases. I believe the value of my asset will continue to grow over the long run.

Liabilities

My debt decreased by $10 700.

My debts are high, but it is in my managable range so far. I moved most of my debts into a fixed-long term mortgage in early 2021. Therefore, debts related costs and payments are more predictable and easy to handle.

I have over $250K 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 down by $22 700 or 3.42% in May 2023.

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.

April 2023 Net-worth Update

Net worth update as of May 31, 2023 (-3.42%)

Assets: $1 114 400 (-$33 400)

Cash: $700 (-$300)

Home: $402 900 (no change) –conservative estimated value

Canadian Stocks: : $575 500 ( -$30 000 )

Small-cap Portfolio: $2600 (-$300 )

U.S. Stocks: $68 200 ( -$2800 )

International Stocks: $12 700 (-$500 )

Employer’s Pension Plan: $51 800( +$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.