Net Worth Update: Feb 2022 – Record Dividends!

Last updated on March 11th, 2022 at 02:06 pm

Welcome to my net worth update for February 2022! These numbers represent my wife and I’s net worth as of February 1st. Please check out our previous net worth update if you haven’t already!

Consider subscribing to my newsletter if you’d like to receive my easy-to-use Expense and Net Worth Tracker spreadsheet. I use it every month!

Investment Update

It was an exciting time to be an investor last month. Markets were so volatile, which allowed for ample buying opportunities. Most of this volatility was in the tech sector, but it still weighed down our holdings enough to encourage us to jump in!

Our accounts.

We began by deploying our $10,000 emergency fund and put it to work to take advantage of this small market correction. I transferred $4,000 into my TFSA and used it to buy shares of VUN. We also transferred $5,000 to my wife’s freshly opened RRSP, where she planned on starting a position in XEQT.

We earned record dividends last month.

But the best news of all was that most of our ETFs paid dividends! And in total, we earned an incredible $1,606!

The 1201 shares of VEQT I paid for with borrowed money really began to shine last month, earning us $617 in dividends. Too bad VEQT only pays once a year; I wish it paid that much monthly! Check out my post on getting started with leveraged investing if you’d like to learn more about my strategy with VEQT.

VEQT helped this net worth update to be our best yet!

However, it wasn’t all good news. Because of the market volatility, our investments lost $5,000 across all of our accounts. But I’m not too worried; I don’t really care what markets do in the short term. In fact, it was nice to be able to “buy low” for the first time in over a year.

Our investments lost $5,000 last month!

Expenses in Depth

Last month ended up being a very low-spending month for us. Perhaps due to Omicron or Christmas fatigue, we hardly did anything social and didn’t shop at all. That helped us save $5,900, which offset our investment losses.

January ended up being a very low-spending month.

If you read my 2021 year-end review, you may notice some new expense categories I’m tracking. These are parking, donations, electronics, and interest.

Parking was previously tracked under “other,” while “electronics” was tracked under “Digital.” I decided to break these out this year, and I’m already making use of them: we spent $267 on a laser printer which has saved us a few trips to Staples already.

“Interest” is perhaps the most interesting new category. This is the interest I pay on $25,000 my Tangerine line of credit that I use for investing. Since these expenses are supposed to represent actual cash flow, I don’t list the interest I pay on my margin loan with Interactive Brokers, which amounts to about $20 per month.

Net Worth Update

Excluding home appreciation, our net worth increased to $456,100 from $453,100 in the previous month. This is an increase of $3,000!

But that’s not all! I recently shared the details of our recent real estate windfall, where I reported our property assessment surged by $283,000 in 2021. In that post, I also shared that I plan to average our last three property assessments to come up with a conservative value to add to our net worth.

And so for this year, I’m adding $129,000 to our net worth to account for the increase in our home’s value since we purchased it.

Our total net worth surged this month, as I’ve included some of our home appreciation.

This is a massive change for us. But in one aspect, it means we need to work even harder to keep saving and investing to help balance out our assets. Our home equity continues to make up the bulk of our net worth which is not ideal for someone trying to be a diversified investor!

Home equity makes up 57% of our net worth!

In 2022 I hope to balance out our holdings by buying even more ETFs than in 2021. My 2022 new year’s resolution to take out a HELOC to invest will help me achieve this goal. Stay tuned for progress on that front in a future net worth update!

Thanks for Reading

I recently refreshed a few of my most popular articles. This includes my post on the best REIT ETF in Canada my pick for the best dividend ETF in Canada. Consider giving those articles a read if you think they’ll help you on your financial journey!

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  1. This is great AL! You guys managed to increase your NW despite the crazy market. That is impressive. I am also using Tangerine Personal LOC for investing. However, I move this cash to a Crypto cash and now earn 10-14% (10% is for no-term flexible that I can withdraw in seconds but the rest 14% is locked in a 3 months term which I renew every 3 months).

    I wonder if there is any other place that we can get such a low interest on LOC? Or if I can increase mine from Tangerine. It is currently 20K.

    1. Hey Mr. Dreamer. Glad the crypto lending is working out so well for you. I’ve read a few of your posts on that subject and it seems very interesting. I’m not aware of any other LOC’s like what’s offered selectively by Tangerine. I get offers from TD quite regularly and they’re always for 4.5% or higher. If Tangerine could just increase our LOCs by 2 or 3x that would be perfect!

  2. Nice update, Al. I think taking the average assessed value of your home over a few years is a sensible approach for net worth tracking. It can help reduce the impact of noise from outlier periods like we’re in now.

    I thought real estate price appreciation in 2021 was crazy. But the first 6 weeks of 2022 appears to be even more insane from recent sales in my neighborhood, lol.

    I didn’t think it was possible but here we are. I’d say we’re either at peak exuberance or close to it, meaning it’s hard to see continued price acceleration from here. But you never know.

    1. Thanks for the great feedback Liquid! I spent a long time trying to figure out how to encorporate home appreciation in my net worth, and I think this method strikes the right balance.

      And you’re totally right, 2022 has been a banger year already for real estate. I think everyone is trying to jump in before rates increase. Glad I’m not shopping for a home in today’s market!

  3. To increase your net worth in such a volatile month is saying something! Good for you “buying the dip” and putting some excess cash to work during a drawdown. From a psychological standpoint that’s a move that always makes it more palatable when stocks go on sale.

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