Apr 032018
 

The stock market is starting to show signs of weakening. It fell in March. And my net worth would have dropped with it. But luckily my severance package came to the rescue. 😀

Job Update

As explained in my previous monthly update, I was laid off in February from my full time job. The company was restructuring and let go more than a quarter of its workforce. Fortunately I received a large severance package from the company worth about $10,500. 😮 Hurray! I deposited the money into my bank account in March and paid down some debts. Thanks to this major windfall my total monthly income was nearly $15K, higher than any previous month! 😀

After the lay off I accepted a new job offer at a different company and started receiving biweekly paychecks again. Here’s an example of my earnings from this new job. I’ve blacked out some private information for security reasons.

As good as this job may be I’ve decided to look for better opportunities elsewhere. So earlier in March I talked to my manager and gave my 2 weeks notice to resign from my position. I like the people there, and have gained a lot of useful experiences. But working there isn’t the best use of my time so I will be applying at other companies now. 🙂

Income Situation

Other than a full time wage I also earned income from my part time job and freelancing in March. In terms of passive income I received $510 from my solarshare bonds. This investment only pays twice a year, not monthly.

Here’s a look at my most recent TD bank transactions. I received $167.94 from my part time job, and $802.93 from my full time job – as presented earlier. I’ve blurred out both names of my employers. 

At the end of the month I transfered $700 to my CIBC bank account to help make my next mortgage payment. Overall March was a terrific month, mostly thanks to a huge payout from my ex-employer. I never thought losing my job could be so helpful for growing my net worth. 🙂 Maybe I should get laid off more often, lol. Just kidding. 😛

The first rule of financial sustainability is to make more money than you spend. My part time job and other side incomes bring in about $2,500 per month. This means I only need to make an additional $500 to $1,000 per month to break even with my budget. Going forward this can be done either by finding a full time job, or by working harder on my side hustles. In any case, my financial statement for March is below.

 

Liquid’s Financial Update

*Total Income: = $14,900

  • Severance package from old job = $10,500
  • New full time job = $1,300
  • Ongoing part time job = $700
  • Freelance = $600
  • Dividends = $900
  • Interest = $400
  • Solarshare bond payment = $500
*Total Spending: = $3,200
  • Food = $400
  • Housing = $1100
  • Utilities = $100
  • Miscellaneous = $500
  • Additional Debt Interest = $1000

*Net Worth: (ΔMoM)

  • Assets: = $1,174,100 total (+5,300)
  • Cash = $6,600 (+5800)
  • Canadian stocks = $168,300 (+300)
  • U.S. stocks = $114,300 (-1300)
  • U.K. stocks = $21,400 (+300)
  • Retirement = $89,300 (+100)
  • Mortgage Funds = $32,200 (-200)
  • P2P Lending = $31,000 (+300)
  • Home = $275,000
  • Farms = $436,000
  • Debts: = $448,600 total (-4,900)
  • Mortgage = $179,400 (-400)
  • Farm Loans = $184,300 (-500)
  • Margin Loans = $53,100 (-2100)
  • TD Line of Credit = $4,100  (+100)
  • CIBC Line of Credit = $13,000 (-2000)
  • HELOC = $14,700

*Total Net Worth = $725,500 (+$10,200 / +1.4%)
All numbers above are in $CDN. 

 

So far April is not looking good for my investments. The stock market is down and some analysts predict this is the beginning of a new bear market. Without a secure full time job my net worth could drop this month, which it hasn’t done in years. But I’m optimistic that things will work themselves out. 🙂 We shall see what happens.

 

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Random Useless Fact

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Passivecanadianincome
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Haha nice pic. Mixed genders….. a horse of a different color these days.

Absolutely fantastic networth and you really got working fast.

Keep it up
Cheers

Financial Orchid
Guest

You’ll find another job soon with your professional credential, experience, and hustler mentality. Vancouver is a tough job market compared to US west coast cities, but digital skills are most in demand now.

S Arun
Guest

Sometimes small setbacks lead to a huge success. Either you will end up in a high paying job or you will figure-out a way to make much more money than you made in your old job.

You have a right mind-set about your financial future. I can certainly bet on this …..because I have been following your blog posts for a years…

Best Regards,

Bernz JP
Guest

I think you will be just fine the fact that you’re making $2500/month on your side incomes and the part-time job. Wit a positive mindset, you should be able to find a full-time job that’s better from the previous. You’re right about the market in April, it’s been a mess and I think it will continue to be a volatile market for the rest of 2018. Wish I got out of FB. Keep hanging in there bud.

TheBrain
Guest

Looks like you’ve been having an eventful 2018! I think you’ll find you’re in a better spot a year from now because of it. You have an end goal, and you know what you need to do to get there. Best wishes!

GYM
Guest

You’re doing amazingly amazingly well. Good call on quitting the job. $14.25/hr isn’t worth your time!! You are getting $900 in passive dividend income for not doing anything. You are at a point where you have enough “F U money” to say F U, isn’t that a great feeling? 🙂 You probably make more hustling than your full time job.

I like the pic as well hah, funny!

Dividend Diplomats
Guest

F35 –

Man… Talk about a TON of dividend income, as well as other sources. Killer and love the solar bond payment too!

-Lanny

Phil
Guest
Phil

The journey is never a straight line regardless of how ideal that would be. Set backs or challenges remove us from our comfort zone and cause us to take stock (pun intended) of what we have been doing to achieve our goals, and possibly give us time to refine or in some cases redefine those goals… Your long term planning and forward thinking has you in a very enviable spot at what would usually be a very stressful time for most. Happy you ponder the comments of your followers at times… You have a nice buffer accumulated to not need to stress about where to go next, and that is what good investing practice is all about… Enjoy your transition to life’s next experience. You are in a very good financial position to weather a setup to the next leg of life’s journey – Cheers

AlW
Guest
AlW

Keep on trucking!! You’re making good headway even in less than ideal circumstances. My household reached the 1M net worth this month – it doesn’t feel any different than before hahaha. But we’re actually going to start investing more in things we like to do etc now we’ve reached the mile stone. We’ve already bought a membership in a vacation club and are looking at building a cottage this summer – this could be hard on the head for sure!