Net Worth Update – September 2020

Welcome to the FindependenceCanada September 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.

Ah, back from a nice little vacation and feeling refreshed!

So what’s the first thing we’ve gotta do once we get home? Update our net worth of course! I joke, we actually unpacked first AND THEN came here to do this for you all.

This month has been more of the same in this volatile stock market, it’s amazing that we can go from fearing we missed out on another run up (see: tech sector), to feeling like we don’t have enough cash prepared to take advantage of a pullback (see: tech sector a week later).

It’s been a very challenging time to remain in our lane in terms of continuing to just steadily pump money into our dividend holdings as we see these wild swings all around us that we’d love to be playing along in.

For now the only tech play that doesn’t pay a dividend that we’re actually trying to build a position in is Facebook but we won’t get into the reasons for that here.

So- back to the topic of net worth, let’s start at the start and get a look at our assets:

$846,709 marks a nearly $1,000 increase over last months assets. It’s been an expensive month since our last update so this isn’t totally unexpected. Aside from the expense our portfolios also hovered around even for the month so all in all a bit of a wash for the month.

Now on to liabilities:

A little bit of progress as we see our mortgage creep down $1,000 and the student loan remaining the same. The reason for us not making student loan payments is the fact that Mrs. FIC being on maternity leave has made her loan excused until next fall, on top of that it’s only a 1% loan to begin with so as we’ve mentioned in the past it just isn’t a priority though we will one day get to hammering it down.

So where do these figures leave us overall? glad you asked:

Our net worth of over $349k means an increase of $2,000 from last months update.

Looking at the P/E ratio climbing in the stock market at this point we’re just hoping that there isn’t a large pullback between now and the end of the year. There’s a concern on our behalf that the earnings reports aren’t going to cut it throughout the broad market and that we could get hammered but will we sell? No. Why? Because as we’ve seen the market can run from reality for a long, long time and you can ultimately miss out on significant gains if you overthink these things too much.

That about wraps up this months net worth update, please 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.