Welcome to the FindependenceCanada April 2021 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.
April’s update is a good one. It’s not the best month we’ve had to date but the markets and paychecks kept on rolling in so all is well.
Speaking of paychecks- Mrs. FIC just finished her first week back to work, so we’re pretty excited to be getting that second income again. Having Mrs. FIC’s paychecks back in the fold “should” increase our net worth at a more rapid pace but in the end the market has more to say about our net worth than our incomes at this point, or so it feels.
Let’s get into the numbers:
We’ve gained a little over $8,000 since last update in assets. Only about $1,000 of that was in our cash position which we do plan to keep slowly building for multiple reasons. We are planning to keep a little more of a buffer in savings than we have traditionally, but we’re also looking to keep a little extra dry powder on the sidelines in case of a market crash or a similar buying opportunity on physical objects that we’ve been looking into.
If I’m being honest, in a perfect world right now we would continue to save up some cash and then get another buying opportunity similar to last spring, however, I don’t foresee any drivers for that sort of move this year. Those of us still quite a ways from retirement age and securely in the “accumulation” years shouldn’t be super excited that we’re averaging in at all time highs pretty well steadily for our entire investing careers thus far.
Next on to the liabilities:
We’re on the same slow pace for liabilities, our mortgage came down another $1,000 roughly and no moves made to the student loan. The student loan is going to begin coming down again when we start paying it off later on this month, even though it’s a 1% loan we really can’t wait for it to be gone.
Now for the main number:
$425,750 is a gain of just under $10,000 month-over-month and a number we’d be glad to replicate every month. Next month might be a little bit underwhelming in comparison because we’ll have a couple fairly hefty bills coming our way with getting our home painted and repaired as well as also splurging on an air conditioning system for our house.
In years past we coped with the heat because it never really gets that hot here and the uncomfortable days were limited to maybe a month out of the year but now that we have a 1 year old even 1 month is too much as his room is upstairs and gets really hot – plus he can’t tell us when he’s overheating so it’s a safer bet to just bite the bullet and get the AC installed.
That’s where we’ll leave off for this update.
As always if you’ve got any questions or comments feel free to leave them below or over on our social medias:
Instagram @FindependenceCanada
Twitter @FindependenceC1
and we’ll be sure to get back to you.
Thanks for stopping by,
FIC.