Net Worth Update Feb 2021

As you know, we are planning to achieve F.I.R.E in 2028, and part of reaching that goal is tracking not only our spending but our net worth. We want to share our progress with you.

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.

Let’s examine February’s 2021 Net Worth

Assets: 1,445,463

Principal residence860,000
Condo overseas137,500
Investments (RRSP, TFSA, foreign)237,823
Smith Manoeuvre176,086

Liabilities: 736,141

Principal residence624,999
Condo overseas92,709

Net Worth: 709,332

Our net worth has increased by 3.34% over January 2021. One of the main reasons for this increase was the 2020 RRSP contribution: We managed to contribute 30,000, all invested in the US market. Actually, the 30,000 investment is part of our 2021 Financial Goals.

When we compare with the first month we shared the net worth (back in July 2020), with February 2021, our net worth increased by 17.48%. If you’ve been following our net worth updates, this is the first time we’re over 700,000.

Youtube channel – Our journey to Financial Independence

February 2021 – Our Financial Journey Summary

Net Worth Update

Let’s take a look at a few indicators, comparing with the first Net Worth Update back in July 2020:

  • Noteworthy, this is the first time we’re above 400,000 invested in the market
  • Assets return increased by 7.86%
  • Liabilities decreased by 0.17%
  • Smith Manoeuvre investment is up 42.41%
  • The Total Investment portfolio (all accounts, including RRSP, TFSA, Margin Account, and Smith Manoeuvre) is up 34.16%

Our strategy for financial independence remains the same: keep investing in 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!