Net Worth Update Sep 2020

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 September’s 2020 Net Worth:

Assets: 1,349,713

Principal residence 860,000
Condo overseas 137,500
Pension 34,054
Investments (RRSP, TFSA, foreign) 174,225
Smith Manoeuvre 142,934
September 2020 – Assets


Liabilities: 739,071

Principal residence 619,686
Condo overseas 99,177
Car 20,208
September 2020 – Liabilities


Net Worth: 610,642


Our net worth has decreased by 0.04% over August 2020. This is most likely a result of market fluctuation. It is important to note the overall net worth is down, however, our dividend income has not changed; rather increased.

Our investment philosophy didn’t change. In September we were able to invest $ 6,078.95 into our various accounts. Let’s see what October brings!

2020 Summary

Net Worth Update – 2020

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

Last year we bought a condo in Brazil (still under development…but it will be ready in early 2021!) 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 Manouevre

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