We will become Financially Independent in 2024, and in order to do that, we track not only our spending but our Net Worth by sharing our progress with you. Let’s see what February 2023 brings us!
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
Net Worth Calculation Breakdown – Feb 2023
Assets: $1,678,829
- Real estate (Canada + Brazil): $1,110,000
- Pension plan: $34,054
- Investments (all accounts but the SM): $345,382
- Smith Manoeuvre (SM): $189,393
Liabilities: $780,201
- Principal residence (Canada): $775,218
- Car finance: $4,983
Net Worth: $898,628
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Net Worth Calculation video from February 2023
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Financial Independence Summary
- When comparing YoY:
- Assets: Decreased -3.20%
- Liabilities: Decreased -0.73%
- Net Worth: Decreased -5.26%
- The month did not end as we expected, however, on the bright side, the dividends are increasing. Once the market turns, we will benefit it. Do you feel the same?
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