As per readers’ feedback from the previous month’s fiscal update I’ve decided to convert the value of all my USD assets into Canadian dollars when I calculate my net worth. By factoring in the exchange rate I hope to have a more accurate picture of my net worth 😀 Luckily the $USD is worth more than $CAD, so my US stock portfolio should be pretty happy about that 😉
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- Part-Time Work = $1,100
- Dividends = $300
*Discretionary Spending:
- Eating Out = $10
- Others = $1,800 (splurged on gold )
*Net Worth: (MoM)
- Assets: = $550,000 total (+$12,000)
- Cash = $2,200 (+$500)
- Stocks CDN = $75,100 (+$2,700)
- Stocks US = $38,800 (+$8,300)
- RRSP = $31,900 (+$500)
- Home = $252,000 (same)
- Farm = $150,000 (same)
- Liabilities: = $389,100 total (+6,700)
- Mortgage = $203,500 (-$300)
- Farm Loan = $111,100 (-$300)
- Margin Loan CDN = $22,500 (+$3,700)
- Margin Loan US = $23,000 (+$4,500)
- Line of Credit = $19,000 (-900)
- Line of Credit CIBC = $10,000 (same)
*Total Net Worth = $160,900 (+3.4%)
All numbers above are in CAD. Conversion rate used: 1.00 USD = 1.02 CAD
March was a pretty good month overall as my wealth increased by a little more than $5K. I big part of this gain is thanks to the robust US stock market which is on a roll. My US portfolio saw a natural appreciation over 3% this month which is in line with the Dow and S&P indices, plus it also got a nice 2% gain from the conversion rate. I also purchased some additional Canadian and US stocks. I have a feeling I’ll see an even bigger net worth increase next month as the FCC will release their national farmland assessments and I can update my farm’s value in the asset column. All the investments I’ve accumulated over the last 4 years finally feel like they’re starting to pay off now 😀 And I will continue this process of taking the profits generated by my assets to make even bigger investments until one day I can leave the rat race forever 🙂 So far so good.
Looking good! So long as the stock market doesn’t tank, I think your net worth will be moving nicely upwards.
Yup, looks like I’ll meet my goal of increasing my net worth by $50K this year if the market doesn’t pull back too much 🙂
Nice work! I like how you splurge on gold! 😛
I personally just count my US as par with my CDN in regards to my investment portfolio; not entirely accurate I know, and will consider changing it if the difference in currency increases, but it has been around par for awhile.
I’ve been doing that in the past because it doesn’t make a big different since we’re at par with the USD anyway. I think there are numerous ways to calculate a balance sheet but the important thing is to be consistent every time ;0)
So you don’t work the farmland? You just invest in farmland?
I just read your progress and portfolio .You are currently renting the farm out. Is the land in an area that you expect to be developed in the future or is the farm a place that you expect to settle when you find a girl?
There’s the possibility of sectioning off a small portion of the farmland for private residential development in the future but for now I plan to hold it for the $5K a year in rental income and then sell it eventually 🙂 I expect to continue living in the big city after finding a girlfriend. We would discuss how we want to live together if things get serious but I’m thinking we could move into a 3 or 4 bedroom townhouse with a backyard in a quite neighborhood. If we have 2 cars then the newer one goes into the garage while the other can be parked outside on the street. We might get a cat too depending on what we decide at the time 😉
Wow, great job and good stats. I love the way you accumulates your assets. More assets means bigger net worth. Good luck.
Thanks, I like watching my assets go up in value too. The downside is often I have to borrow money to buy more assets, but I suppose as long as my investments are generating enough of a gain to offset the cost of my debt then that’s good enough for me ;0)
Thanks, another 10 years of progress like this and I can finally set myself free from the rat race.
Well done, over half a million in assets. Solid.
All thanks to the power of leverage 🙂
Looks AWESOME !!!
You’re too kind 😉
You are doing so well,,,,,,!!! You will never be in my shoes! :-))
That’s probably true. My feet are too big to fit into most women’s shoes in general though.
Looks good!!! You’re doing well. I’m really hoping to build up our investments this year – slow and stead.
That’s the only way for middle income earners like us. Can’t rush it :0)
Very nice work. I think the goal is that our portfolios should do well when the market does well. Looks like your portfolio is doing its job.
Yup, we can’t fight the tide, but as long as we ride it out and continue to make progress over time then we have nothing to worry about 🙂