Happy Canada Day! Since the beginning of the year my net worth has climbed by $172,000. 🙂 I have read many books and online articles on how to get rich. But I didn’t expect implementing those strategies I learned would be so effective. The whole idea of buying undervalued assets and holding them for many years really does work!
Speaking of buying assets, last month I purchased 2 new U.S. based stocks in my RRSP. I bought 50 shares of Advanced Micro Devices (AMD) for $29.20 US per share. I think this makes an excellent holding along with my existing Intel (INTC) shares which was purchased years ago. I also picked up 15 shares of Alibaba Group (BABA) at $154.59 US each. This is known as the Amazon.com of China, but it does a lot more than e-commerce. Alibaba also operates subsidiaries such as TaoBao, Alipay, TMall, Ant Financial, Alibaba Pictures, and others.
These 2 stocks have increased my foreign equities holding. My asset allocation now looks like this.
Eventually I would like my Foreign stocks to expand to 15% of my portfolio. I want to also reduce my farmland exposure to just 25% or less.
Liquid’s Financial Update
*Side Incomes: = $2,900
- Part time job =$800
- Freelance = $500
- Dividends =$900
- Interest = $700
*Discretionary Spending: = $2,200
- Food = $400
- Miscellaneous = $400
- Interest expense = $1300
*Net Worth: (ΔMoM)
- Total Assets: = $1,353,000 (+17,800)
- Cash = $7,500 (+4900)
- Canadian stocks = $176,600 (+5500)
- U.S. stocks = $130,800 (+5400)
- U.K. stocks = $21,700 (-100)
- Retirement = $133,000 (+1700)
- Mortgage Funds = $36,000 (+100)
- P2P Lending = $35,400 (+300)
- Home = $367,000 (assessed land value)
- Farms = $445,000
- Total Debts: = $388,400 (-4,000)
- Mortgage = $187,700 (-300)
- Farm Loans = $164,200 (-1500)
- Margin Loans = $36,500 (-2200)
*Total Net Worth = $964,600 (+$21,800 / +2.3%)
All numbers are in $CDN at 0.76/USD
After a stalled month in may, my net worth continued to climb in June thanks to strong stock market gains and higher precious metals prices. I also got a large bonus from work so that’s always nice. 🙂 My goal is to hit $1,000,000 net worth by the end of August. 🙂
Random Useless Fact: