Net Worth Update: November 2023

Welcome to my net worth update for November 2023! These numbers represent my wife and I’s net worth as of November 30th. Please check out our previous net worth update if you haven’t already!

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Expenses

Christmas is almost upon us and so our variable spending was elevated in November. We spent extra money on pretty much all categories, from gifts and charity to eating out and fun activities. Despite this, we still managed to increase our savings rate from 37% to 38% for the year.

Those of you following closely will remember in my 2022 Year End Review I shared that we’ve been quite consistent in saving 40% of our income in the past couple of years. In 2023 we’re almost meeting that threshold after spending a lot more than normal in the first two months of the year.

Investments & Dividends

In November we made more contributions to our investment accounts. In total I contributed $2,600 to my RRSP, while my wife contributed $2,800 to hers. We have around $10,000 in total space left in our RRSPs and we’re both committed to maximizing them by the end of this RRSP season.

Last month we earned $135 in dividends which is pretty consistent with past Novembers.

In 2023 we’ve earned $7,134 in dividends which is already 46% more than last year’s $4,900. I’m hoping we can finish strong an come close to earning $8,000 in dividends in 2023.

Net Worth Change

In November our net worth increased substantially to $871,100 from $831,500 in the previous month. That’s an increase of nearly $40,000! We’ve now exceeded the all-time-high net worth of $841,200 that we reached in August of this year.

Around $5,000 of this increase came from our savings, with another $1,200 coming from mandatory pension contributions and $1,300 coming from paying our mortgage. The rest of the increase came from investment growth.

Thanks to market performance, our liquid net worth finally exceeded $400,000 again. This chart illustrates just how much our liquid net worth (which includes stocks, cash, and excludes our pension and home equity) has grown since starting AnotherLoonie.

I’m not sure if the market will co-operate, but I’m already looking forward to the next milestone of having $500,000 in liquid net worth.

Thanks for Reading

I recently updated a few articles that you may be interested in. This includes my post on how investment loans are costing me $500 each month and my the best Canadian Dividend ETF. Consider giving those a read if you think they’ll help you on your financial journey!

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