Welcome to the FindependenceCanada April 2020 Net Worth Update. This is where we track our monthly updates on our quest to a One Million dollar net worth and beyond. We have worked diligently over the last few years to go from having a negative net worth to the position we are in here today, and we hope that we are able to motivate others to join us on our quest to financial independence!
To view last months update click here.
So, as some of you may remember last month was not a positive experience for our net worth progression. The stock markets meltdown was largely to blame but somewhat miraculously we’ve seen almost a complete 180 in the market since that time.
I must say I’ve been surprised by this return to a bull run, but we’re being cautious with throwing more money into the market right now as something doesn’t feel quite right with this run up.
As always lets start by looking into our assets:
This $10,000 increase was entirely organic growth as there were no new contributions to any of our investment accounts over the past month.
We did reinvest some of the dividends that trickled in, but other than that we’ve just been maintained a holding pattern.
One very important change to our lives in general was the addition of our firstborn!
That’s right! we’ve added a son to our ranks, for the time being he will be “baby” for any future mentions in these posts. As much as I want to fit him into his own “asset” row we are quickly finding out he is more of a “liability” when it comes to our household cashflow situation.
One of the best purchases we did make however for the little guy is something called a mama Roo 4. When Mrs. FIC first bought it I was skeptical but he absolutely loves the thing, so much so that I felt the need to give them a shoutout in this post.
Now let’s get to the actual liabilities:
The mortgage is still headed down, with no more double up payments this $1,000 decrease will be the norm.
For the student loan, we’ve chipped away another months worth and it is slowly, slowly dropping. For new readers we aren’t in a hurry to pay off Mrs. FIC’s (our) student loan due to the fact that it’s “only” a 1.75% interest rate, so we intend to keep slow paying for now.
Month over month this is a $1,000.00 reduction to liabilities.
A $292k net worth is up over $11k from last month. It would feel great to get back over the 300k mark psychologically speaking but to be honest we really think that there’s another dip coming and we’re hoping/thinking that there will be another chance to buy a falling market later on in this year.
That is just a feeling and we’re not trying to “predict” or “time” the stock market, there will still be small contributions but we won’t be on a buying spree the way we were a few weeks back.
That about wraps up this months net worth update, lease remember that the above is just documenting our investing and personal finance journey. We simply give our thoughts and feelings on a number of topics but we are in no way investing or personal finance professionals so please seek our professional advice before making any decisions.
As always if you’ve got any questions or comments feel free to leave them below or over on Instagram @FindependenceCanada and we’ll be sure to get back to you.
Thanks for stopping by,
FIC.