Welcome to the FindependenceCanada March 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.
TIMBERRRRRR!!! Yep, that’s the sound of the stock market crashing to the ground. Okay – so it’s not all that bad, it’s really more of Leo DiCaprio vs that bear in The Revenant.
All jokes aside, this monthly update is just the reality of the investment world. Crashes in the stock market happen whether we’ve been in the market for them prior to this or not, they’ve happened before and will continue to happen moving forward.
One thing we have most definitely learned through this is that we are likely invested exactly as we should be because while our friends and coworkers have been debating selling everything and running for the hills, we’ve been able to maintain basically 100% confidence in our investing process and have just kept plowing money in and taking advantage of what we perceive to be sales in the market.
Let’s get into the numbers, starting with the assets:
$786,380 that’s about a $25k drop from last month which is a little upsetting, last month we had the hit in the housing market where we lost $15k followed by the absolute shellacking we took in the stock market this month.
On the bright side – the worst is likely/hopefully behind us.
We won’t spend any further time discussing the assets as there’s not a whole lot to highlight here, so let’s get on to the liabilities:
Another $2k removed from our liabilities as they dropped from $507k to $505k this month. With our double up mortgage payments on hold for now, this will be the new norm moving forward.
With the interest rates continuing to drop, there is a chance that we refinance our mortgage but we’re still undecided on that. If we do end up going that route there will definitely be a post on it in the future so stay tuned.
Net worth from February: $303,668
Net worth from March: $280,729
Change MoM: -$22,939
There’s the final number, $280,729 is our net worth for the month of March, as seen above that’s nearly $23k down from a month ago. As said prior, hopefully that’s the worst of it over with now and we can regroup and refocus on moving on to new highs.
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.