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here we are back again for yet another
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month of our net worth update today
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we're going to tell you all about
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September of 2023 and see how we end it
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up with all those Market ups and downs
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stick around and we'll let you
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[Music]
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know hello and welcome back we are
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excited but not so much you might have
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seen from my even though I'm still
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thinking about what is going to be the
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thumbnail if you are starting a YouTube
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channel now this is wrong you have to
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think about the thumbil before you
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record the video we are not doing that
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but we do everything backwards guys yeah
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exactly
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don't don't do what I don't know here's
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what you need to do maybe we do need to
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click on the like button if you like
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this video so far if not wait until the
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end of the video because we hope that we
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all like the video because today we are
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going to be sharing with you the results
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from our net worth calculation
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can I tell you right away it's
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down I think everybody might be down it
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down yeah everyone know that it is down
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and we told you that we told you a few
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months ago if you are subscribed to our
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Channel I was the reason that I'm saying
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this is because I just got an email from
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our friend Sarah saying oh I chrisan
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told me that is going to be down and
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that's exactly what happened guess what
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it is what it is we can't change
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anything other than being in control of
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our financial Journey so let's talk
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about assets we're going to talk
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about
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liabilities and sum everything out so we
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can see our net worth calculation mhm so
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this is just a really quick snapshot
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guys to make sure that we're still on
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track because in 170 days um we are
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planning on reaching Financial
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Independence so uh we're going to get a
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lot more into that and why we've chosen
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170 days and that date and everything
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down the road but we are on our way it's
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coming
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[Music]
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fast so the very first thing we always
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talk about is our assets and for the
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most part that real estate asset that we
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talk about is not changing we are
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currently still sitting at
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$1,110,000 that includes the house here
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in Toronto based on current real estate
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prices as well as our condo in Brazil
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yeah the second asset that we have and
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I'm sorry my nose is scratch so the
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second asset that we have is Christine
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spansion we keep the same number $
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34,5 yeah I think we're going to have to
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change that one um because I don't think
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we're going to keep it as a yearly U
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amount coming in I really feel like we
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are going to start looking more
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seriously at commuting that pension um
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so in November we're going to have the
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new number for that pension and I think
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we'll update our net worth statement at
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that point yeah if not November December
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and again start 2024 so many changes
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kind of that we are thinking about in
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sharing our financial Independence
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joining with you guys so yeah stay tuned
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next asset is our investment category
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this includes all of our investments
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with the exception of our one margin
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account called the Smith maneuver
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account that Jan will tell you about in
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a second so our investments include the
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corporate margin account all of our rsps
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and tfsas those came out to 500,000
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$387 yeah if you look at the other
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number which is the Smith maneuver
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basically all the Investments that we
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have on Chen paint stocks in Canada
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specifically the reason for that is the
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gy and the tax advantage that we have we
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suffer quite a lot I mean this one went
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down hard this one went down pretty hard
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we haven't sold anything we actually
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bought a few more stocks along the way
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which is always what we plan to do we
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ended the mon with
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$156,400
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1853 yes lastet for get I like from
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numbers 18 it's why 1800s like when we
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have to call
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[Music]
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somebody let's talk about liabilities
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and we speak about liability we have
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only one the only liability that we have
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is this house that we are here in
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Toronto and we ended the month with
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78,79
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yeah yeah so taking all of those numbers
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into account we're going to take
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$1,800,000 subtract the
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$748,000 comes out to 1,
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51,9 $61 yes still over a
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million still over a million dollars
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that's I I wasn't sure to be honest with
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you when we were kind of going through
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September I thought that those numbers
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are going to go down and as a result it
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will be below 1 million which it was not
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the case as we you record this video in
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mid October
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actually it's definitely mid
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October uh I don't think that this going
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to go down it's quite the opposite it's
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the net worth you know and the dividends
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that you have there are kind of kind not
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only the dividence our our portfolio as
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well is going up which is what we
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expected but usually that's what happens
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from our experience over the last years
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investing after the summer know
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September October the markets they
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usually go down until they start kind of
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rebuilding that again yeah and there's
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been a lot of different world events
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guys that really do play into and effect
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a lot of our investments so we just got
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to stay the course believe in our
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investment philosophy and just keep
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going yeah
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[Music]
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yeah let's talk about our financial
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summary for September
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2023 yeah and if anybody's interested in
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the spreadsheet that we currently use to
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track our net worth that somebody here
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is spent a lot of time designing you can
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download it for free um Jan will put the
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link down below feel free use it if you
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have any suggestions uh let us know if
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you have any issues let us know we'd be
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more than happy to help you out 100% so
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the first thing that we're going to take
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a look at is our assets our assets which
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are mostly our investments decrease by
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3% month over mon month over month yeah
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exactly yeah so from August to September
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they went down 3% the same with the
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liabilities they basically remain flat
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meaning that we just paid what we had to
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pay for the month so it's like
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0.00 something so flat liabilities yep
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and overall the net worth actually
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reduced by
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5% um and I think probably one of the
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biggest reasons why we are still over a
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million is because we continued to add
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that new capital into our investments um
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which kind of helped keep them above
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that that million dollar threshold yeah
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and it goes back to diversification
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right this is really important uh and we
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keep saying the same thing it's just
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like it sounds like a break record but
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it's actually the case you have to
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diversify your Investments and that's
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what we do we do have a big capital
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investment on dividend pay stocks but
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that's not the only thing that we have
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in our portfolio so keep that in mind as
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well yeah and I think that's what we're
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really trying to focus on a bit more now
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moving forward too because we sort of
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have our dividend portfolio right in a
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really good spot for what we're looking
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to do with our financial dependence
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dream moving forward so now rather than
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put money into those individual stocks
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that could be more heavily influenced by
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market fluctuations and different world
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events we're really now starting to try
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and build up some of our like total
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Market ETF funds and stuff right for
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growth down the road and it's not the
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case that we are starting now we have
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been doing every single month that begin
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right in fact one of the main ones that
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we have is xaw to which is all the
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companies outside Canada right so all
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it's an
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ETF and since when we are in 2023 2022
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when we started kind of doing this I'm
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going to put a video up here on your
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screen where at the end of 2022 we
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compared how did we do over the last 12
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months with XA with yeah in his tfsa we
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did like a little bit of a challenge and
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we've continued that this year so it'll
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be interesting in January again to see
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how that did yeah 100% so what else do
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you need to do so the net worth it's a
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sue up as Christine mentioned before
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over 1 million even though with this
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reduction of 5% we are over $1 million
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this is the fourth time in a row
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actually the last four months yeah the
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fourth time R exactly doesn't make and I
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mean hey we can't be really upset
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because year-over-year our net worth has
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grown by 22% so last September was a
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really rough one guys I think we all
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remember for that one um but
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year-over-year that net worth has
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actually grown by 22% yeah and if you
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see our reactions over the last four
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months there's a playlist every single
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month we share with you our Networth go
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and take a look on the previous months
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and see how we were reacting at those
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events especially last year yeah and if
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you look back again taking into account
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all the previous information that we
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have to go on overall month over month
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our net worth is still in fact growing
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at a rate of about 1 6% a month on
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average right hey can't complain about
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that you know what is the secret you're
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going to tell with this secret you have
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to keep investing have to make money you
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have to save money and you have to
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invest that's basically what we do every
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single month as little as you think it
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might be keep putting that into your
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Investments like it doesn't matter if
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it's $20 $200 or $2,000 just keep
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putting it in as much as you possibly
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can times are tough we get it
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um but now is really the time that
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you're going to see the difference come
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in your Investments if you can get the
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money in there now when things are a bit
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down 100% 100% what else oh the goal is
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you were supposed I don't think that
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you're going to reach this goal of
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$1,300,000 by the end of
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2024 however depends on the pension guys
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if the pension comes into play we might
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have changed the
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goal ye
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that's a good point but I don't think it
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is going to happen this year yeah we
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might save that till the new year yeah
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we have to save until
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2024 but as of today we are at 80% of
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the go of $1.3 million yeah right yeah
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anything else what is our strategy I
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just said well you just talked about it
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right and so this is it guys U again net
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worth is only one of those things that
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we use just just to make sure we're
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still on track with where we're
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going simple really I mean spend less
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than you make is the biggest thing and I
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think right now everybody's kind of
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struggling to do that with the way that
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prices are going and the cost of living
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and everything but again do what you can
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and and save as much as possible yeah
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okie dokie well we hope that you're well
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if you like this video please consider
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you know giving us a like and sharing
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this video so many people can see can
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follow our journey to financial
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Independence even if you don't want to
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restart and retire early or relax Max
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early as we usually say be in control of
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your finances that's the main thing that
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you can do not only to yourself to your
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family and all you know anyone around
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you right yeah and like we said before
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we have 170 days left until we reach
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our Our Moment our date if you will um
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so we're going to probably let us know
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if you're interested but we're really
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going to start talking a little bit more
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about how we're preparing for that date
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and what we're doing to ensure that
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we're going to be successful moving
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forward yeah maybe that might be a good
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video for next week because I we were
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walking yesterday we went for a walk and
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stress all
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here I was stressed I actually have a
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spreadsheet that we wanted to share with
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you if which is like the list of the 100
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things that I need to do prior to
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retirement so I was completing this
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spreadsheet we have to do this we have
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to do this we have to do this I have the
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spreadsheet open right there on my
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screen everything every time that I
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think about something I go and I add to
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this fres sheet so I hope that is going
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to be useful for you as well yeah so
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until next week uh we hope you guys have
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a wonderful weekend and a great week and
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we'll see you soon take care stay safe
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and I'll see you in our next video take
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care
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bye
