Net Worth Calculation – Dec 2021

We will become Financially Independent in 2024, and in order to do that, we track not only our spending but our net worth. We want to share our progress with you. Let’s take a look and see how we ended 2021.

What is Net Worth and why is it important?

Here’s an excerpt from Wikipedia:

For individuals, net worth or wealth refers to an individual’s net economic position, the value of the individual’s assets minus liabilities. Examples of assets that an individual would factor into their net worth include retirement accounts, other investments, home(s), and vehicles. Liabilities include both secured debt (such as a home mortgage) and unsecured debt (such as consumer debt or personal loans). Typically intangible assets such as educational degrees are not factored into net worth, even though such assets positively contribute to one’s overall financial position.

December 2021 Net Worth Breakdown

Assets: 1,534,640

Principal residence860,000
Condo overseas137,500
Investments (RRSP, TFSA, foreign)300,095
Smith Manoeuvre202,991

Liabilities: 672,082

Principal residence636,897
Condo overseas20,000

Net Worth: 862,558

Financial Independence Summary

Net Worth Update

Let’s take a look at a few indicators:

  • 18 Months tracking our Net Worth. We started back in July 2020
  • Our net worth has increased by $194,826 dollars. This is a +29.18% increase
  • If compared with July 2020, the net worth increased by $194,573 (+42.90%)
  • Constant investments throughout the year
  • July 2021 we reduced Brazilian condo mortgage. Now owe only $20,000
  • Assets grew by 8.97% since Dec 2021

Our strategy for financial independence remains the same: keep investing in international real estate, dividend-paying stocks and ETFs.

Where do we invest to achieve Financial Independence?

Principal Residence

Currently, we are living in Toronto, a rather expensive city! But that high cost of living also means that our house has appreciated over the past few years quite a bit. Our home was purchased in 2016 for $615,000 but was recently valued in 2020 at $860,000.

Condo overseas

In 2019 we bought a condo in Brazil as an investment property. This price was paid in Reais (Brazil’s currency) but we have converted this to Canadian dollars to keep things simple.


Kristine works for the municipal government and we are using the same number every month based on her best five years.


This is the total of our investments in both of our RRSPs and TFSA’s, our margin accounts, and Gean’s investments overseas. We are 100% invested in equities (dividend and growth stocks) and ETFs.

Smith Manoeuvre

Since renewing our mortgage in 2020, we are using the HELOC (Home Equity Line of Credit) to invest in dividend-paying stocks (100% Canadian stocks).

Thanks for letting us be part of your journey

We recognize that personal finance is different, and as always, there are lots of factors to take into consideration. We are not impressed by these numbers, they’re just a metric used to make sure we’re on the right track to financial freedom.

Remember: back in 2019, we had over 60,000 dollars in debt, and now, slowly growing our portfolio and preparing ourselves. Lots of learning opportunities ahead, and most importantly, enjoying the journey. You can do it, too!

Recommended links to help your Financial Independence Journey

When available, we use referral links, which means if you click one of the links in this video or description and make a purchase we may receive a small commission or other compensation.

Thanks for letting us be part of your day and journey. Stay safe!