4 Year Financial Update 33M CAD
Wanted to update my previous post from 4-5 years ago.
The slight change from my previous post is that the numbers in this post will be for both my and my SO since our finances are more intergrated.
In Apr 2016 I had a net worth of $0. My last post had my net worth at $250,615 in April 2021 but Dec 2021 was $347,507.81 and my partner had a net worth of $504,454.53. Which means as of Dec 2021 we had a combined net worth of $836.827 with $365,388.88 in investments.
The following years this is the combined networth we had:
Dec 2022 - $821,223.80 ($343,322.27 invested)
Dec 2023 - $1,045,002.33 ($575,798.32 invested)
As of Today -$1,498,535.20 ($1,076,492.76 invested)
Earlier this month I officially crossed $1M invested in the market and am hoping this is where I see significant compound growth. For others in the community, is this where you saw massive growth?
I am trying to buy a detached home in the GTA Ontario and I'd considered it a VHCOL so we have a portion of our portfolio in cash (10%). We have been on the sidelines for the past 2 years waiting for a house we like. I would look to convert my condo into a rental property which would be 700$ cashflow positive and am hoping that can be another source of growth for my net worth #.
I am hoping to FIRE at $2.5M CAD hoping for a 4% rate which translates to 100K spend annually.
Let me know what you guys think!