Welcome to my net worth update for February 2021! These numbers represent my wife and I’s net worth as of February 1st. I do my best to round to the nearest $100 to keep everything easy on the eyes. Let’s get started!
Interview With Eat Sleep Breathe FI
This month I had a really fun opportunity to participate in EatSleepBreatheFI’s series on “How Much it Costs to Live the FIRE Life.” The purpose of the series is to do a deep dive into regular Canadians’ everyday expenses as they pursue financial independence. Some of the questions I answer in my interview include:
- Where are you in your journey to FIRE?
- What type of FIRE are you aiming for?
- How much do you spend on housing?
I encourage all of my readers who are interested in learning how much it costs to live the FIRE life to check out my interview. I also think you’ll enjoy reading about how Chrissy over at EatSleepBreatheFI is working towards FI in Vancouver – all while having two kids and being a stay-at-home Mom.
Opportunities like this, where I connect with other personal finance enthusiasts, are one of the main reasons I started AnotherLoonie. I find that speaking with and learning from others can make your journey towards financial independence just that much more fulfilling.
Finally, Some Serious Dividends!
After months and months of contributing to our registered accounts, picking up shares of VIU, XDIV, and other favourites, we finally had a month where we earned some serious cash!
So, what happened? Well, since our last net worth update, a bunch of our big quarterly payers distributed dividends. The last time this happened, we managed to earn $140. This time around, we did much better, earning $394.
$394 in dividends is significant for us; that’s enough money to pay for our groceries, cellular phone plans, and our internet! Hopefully, this trend will continue, and we’ll hit a few more all-time-highs in dividend income this year.
Our Goal to Invest $30,000
We also made some significant progress towards our goal to save $30,000 in 2021. Thanks to some contributions to our TFSAs, we’re now $1,850 closer to our goal. Between my wife and I, we bought 17 shares of VCN, 13 shares of VEE, and 16 shares of VIU.
At the rate we’re going, I hope that we’ll be able to meet or exceed our goal by the end of the year. I have to keep in mind that expenses like property tax, furniture and car insurance will all make a dent in what we’ll contribute to our investment accounts. However, I feel like our $30,000 goal is attainable, and I’m excited to eventually reach it.
Net Worth Increase
I’m happy to reveal that our net worth has increased by $6,500 since our January update. That’s an increase of 1.9%, bringing our total net worth, including our home equity, pension, investments and savings, to $356,100. Here’s where our net worth increase came from this period:
Perhaps the most exciting component of our net worth, our liquid net worth, has had an incredible streak of gains over the past many months. Check out how we’ve managed to almost double our liquid net worth in just 8 months!
Much of this gain can be attributed to the hot streak that the stock market has been on. To give you an example of the impact this has had: last March, I had some foresight to invest around $8,000 USD in VTI (the U.S. total market ETF) at the deepest depths of the COVID stock market selloff. That investment, including some later contributions, has since gained 40%.
Gains like these have been the story of 2020, with people who managed to pick up equities during the selloff making out like bandits. I only wish I had even more to invest at the time.
Thanks for Reading!
Thank you for checking out my net worth update for February 2021. I recently wrote a few articles that may help you in the new year. This includes my article on the best preferred share ETF in Canada and my article on whether you should contribute to a TFSA vs an RRSP. Consider giving those a read if you think they may help you on your financial journey!
As always, please consider following me on social media or signing up for my monthly newsletter if you’d like to get notified when I post new content.
What did you think about my interview? Were you suprised by some of our expenses, including how almost 70% of our spending goes towards our home?