In Budget Roundups, Money

Year 2020: Net Worth in Review



Previous years


Sherry’s Final Year End 2020 Net Worth

All of the following is my own personal, individual net worth. I do not share these numbers with anyone else.

Started at: $1,024,039.26*

Ended at: $1,112,807.36

Or an increase of…

+$88,768.10 or +8.66%


All of the images below have been created with The Wealth Tracking & Budgeting Tool available for sale on Etsy, or at where all proceeds go to charity

*(+) I re-calculated my net worth for the home..

In my previous roundups, I put $928,289.26 as my December 2019 net worth.

But for my personal numbers since 2017, I redid my net worth because I was putting book value of my home, when everyone has been doing market value (DOH!)… Since I paid about $300K for my half, the real estate values that have sold lately, are around $800K, so that’s what I am putting for now.

So retroactively, I hit millionaire status at the end of December 2019 even though it doesn’t look like it in my previous roundups.

(-)…and for the car as well

For the car, I didn’t increase, I dropped it to reflect the updated resale value (around $85K). Once it depreciates down to $25K or so, I’ll wipe it off completely as $0 as I have done in the past.

If I had taken my original 2019 end of the year net worth instead:

Started at: $928,289.26

Ended at: $1,112,807.36

Or an increase of…

+$184,518.10 or +19.87%

Really though, potato.. potata. At this point in the game, it’s just numbers.



These are my net worth increases over the years:

  • 2013: $17,129.54
  • 2014: $75,566.44
  • 2015: $255,778.79
  • 2016: $(43,229.53)
  • 2017: $107,415.33
  • 2018: $166,648.07
  • 2019: $155,965.14
  • 2020: $88,768.10* – using adjusted net worth / $184,518.10 is using the original net worth

It is kind of incredible looking back at my net worth increases from the previous years.

I didn’t work for most of 2019 and 2020

In 2019, I worked 6 months (?) and in 2020 I worked 4 months. If I don’t work full time, the income doesn’t become full-time which makes sense.

Some individual stocks in my portfolio still haven’t recovered

For instance, CAE Inc. that handles training simulators for aerospace, defence and flight, totally tanked. It’s what I could not have predicted, along with food brands like QSR due to the current situation. It’s a tricky situation. Even some banks in Canada have recovered and others haven’t.

Donated & gave a lot more to family than usual in 2020

In addition to my 10% donation, I also sent back about $25K to my family for various situations. A new one just cropped up and I have to help them hire a lawyer for a situation. Suffice it to say, I am thankful I have money and I can help.

Working on getting my liquid assets up

Currently I have about $628K in liquid assets, I’d like it to be at $1M within 5 years which is very doable.

Should I even claim the car as part of net worth?

It is a significant asset (over $50K) at resale if I needed to drum up cash desperately, that’s what I’d do – sell the car. I never put my other cars in my net worth because they were worth $10K or less, it wasn’t worth the trouble. I am even considering knocking the car completely off the balance sheet 100%, to be honest. I may revise/re-assess at the end of 2021 and consider it $0.

Leaning towards an interim super short-term mortgage for the new home

We plan on buying land and building a home, so in the interim while it is being done, I need the cash to pay for the land & home up front, and then we will sell our condo to cover the rest. I am considering something like a mortgage, home equity line of credit or straight line of credit.

I obviously don’t want to pay a lot in an interest rate, so it looks like a mortgage for (3 years?) could be a good option, with interest rates under 2% for that. Even if I got a mortgage for $300K for 2 years, I’d do it. I wouldn’t be locked in for 5 or 10 years and I am more comfortable with that.


I have more than this invested in the market, this is JUST the capital that pays dividends.

I have $615,224.27 invested in the market in total as of end of 2020 and 58.77% of that, or $361,600.83 is invested in just dividend-paying stocks and index funds (that pay dividends)

My average yield is 3.82% (I divided my dividend income for 2020 of $13,812.94 into the dividend capital invested of $361,600.83 as of the end of 2020).

You can read more about dividends here of what I planned to do

I have since changed tacks, and I am slowly moving from individual dividend stocks to index stocks (lowers my risk as I age).

Helpful posts:


All of my Year 2020 Income & Expenses Budget Roundup details are here.

GOAL: Earn $150K Total Income

I set this goal randomly. I actually wanted to earn $300K total income, but after I lost my contract that was definitely out the window.

So I revised it down to $150K instead, not realizing at the time that it meant that since $75K would be from my day job, I needed $75K from my side income! Ermm…..

Luckily, I more than achieved this. I earned $170,382.38 in total.

GOAL: Earn $50K Side Income

In line with the above goal, I said $50K originally at the start of the year, trying to be ambitious as I had made about $30K the year before, and achieved that with $80,104.01 earned in just side incomes alone (not my day job).

I do not want to try for $50K side income again in 2021 for 3 reasons:

  1. I will be working at my day job, so I am losing 40 hours a week
  2. I have tabled two major income streams that took a lot of time: Resale ($12,774.55) & Coaching ($4401.22)
  3. I am cutting back on other income streams; blogging takes a lot of time, and the more time I put in, the better my advertising ($19,760.90) and affiliate income ($14,128.57) is. I simply don’t have the bandwidth.
  4. I am holding less free cash (investing it all), so things like Bank ($2994.16) & Bank Promo ($940 – I maxed out all the bank offers!) will likely be negligible amounts.

All in all, we are looking at a halved income goal, maybe $25K in side incomes next year.

GOAL: Build $12K Dividend Income

I set it to $12K, got overambitious before everything tanked and said I wanted to make it $15K, and now I am back to the original $12K because I decided to divest of some stocks (capital gain), and funnel the money into non-dividend paying stocks and/or index funds.

Still, I made over $12K and I am happy.

GOAL: Stay under $25K Spending

I really screwed the pooch on this one, as they say. I mean, look.. $25K was ambitious even for me normally, and considering I had 3 outlandish months where I spent crazy amounts at the start (and a few near the end), this isn’t very realistic for my lifestyle.


GOAL: Save $300K to buy new home

This is cancelled because we are still buying the home/land but I am going to look into a VERY short-term mortgage or loan option (2-3 years maximum) to float me for the $300K amount that I will need, rather than divesting to pay for it.

So.. still ‘on’, but I am investing all my free cash and keeping a $10K buffer for bills.

I already paid cash for my first home, so I can either tap into the equity there, or tap into my equity in my net worth as collateral for the loan.

Again for more info on all of this, all of my Year 2020 Income & Expenses Budget Roundup details are here.

If you are interested, my money is parked here:

  • EQ Bank: Good, general 2.3% high interest savings account; subject to change
  • Tangerine: Use my Orange key { 32726976S1 } for free money ($50 once you deposit $100; and I get $50 too

…and invested here:


GOAL: Earn $300K Total Income

This is a stretch goal. I will already make $250K with my day job, which means side incomes has to be $50K like 2020, except I already said that this wouldn’t be possible unless I really pushed. So.. this is a stretch goal.

GOAL: Earn $30K Side Income

This is my more realistic goal for side incomes, and even if I fail on Total Income above at $300K (because side incomes would need to be $50K), I am going to hit this one.

GOAL: Build $15K Dividend Income

I need to invest about $150K in index funds to hit this, or less, if I buy stocks with higher dividend yields.

GOAL: Stay under $30K spending

This one is my general challenge, $20K I think is an unrealistic goal that seems realistic because we are in January right now and not June (HAH!), but $30K would be a nice, comfortable number.

I also (aside from yearly goals), set long-term goals for the big picture:


GOAL: $1M in liquid investments

No house, no car (working on removing this completely from the balance sheet), and only pure investments in a brokerage can count. Today, this is what I have invested in my brokerage accounts (RRSP, TFSA and unregistered Margin), not including any cash or other liquid assets.

I am giving myself 5 years to do this but I am working on doing it in 3 years or less.

GOAL: $2M net worth

Time for the next million! It took me 10 years last time, so I am giving myself the same amount of time. Net worth includes the home, so I will include that in there (should be around $300K – $400K)

GOAL: Build $50K Passive Income

This includes Dividends, Private Lending and Books.

2020 income:

  • Dividends: $13,812.94
  • Private Lending: $5816.72
  • Books: $3380.96 — this one is a bit iffier than the other two, less stable

GOAL: Build $50K Dividend Income

So my current dividend yield is much higher than 1.7% (average yield for an index fund). My goal is to slowly build up 75% of my portfolio to be index funds only, and to have it pay out $50K in dividend income. For that, I need about $4M invested in index funds 100%. I will need less invested in terms of capital, if I also had a mix of dividend-paying stocks in there.

The whole point of this is for me to wake up every day, and not have to do a thing but watch money roll in to pay for my living expenses AND to not have to sell a single item in my portfolio if I do not want to. I basically want to wake up, with more money than I had yesterday, without working for it.

My personal finance (PF Sc0re):

With the house & car


Without the house & car


Here – What’s a personal finance score?

I am definitely at Lean/Coast/Barista FIRE retirement which is that I can live on a small amount of about $2000 (my house is paid, remember?), AND my side incomes basically pay for all of that, so I don’t have to sell anything to pay for my expenses. So I don’t technically need to reach “25” as a PF score to be considered financially independent – I am already there. It’s just nice to have all the boxes checked, if you know what I mean.

Basically, I’ll stop working when I want to and I don’t see when I’ll do that yet.

I’ll just stay semi-retired, pick up a few contracts here and there as I need to, and just see how much I can save. Like a game.

If you’re also interested, I came up with a chart of how much you need to have saved by the end of retirement for a certain level of income:

And that’s it.


2020 was (aside from what happened), not a bad year in many respects:



  • Did not hit my $300K income goal
  • Did not stay under $30K spending
  • Flubbed a $500K contract
  • Lost my Instagram @saverspender account for 45 harrowing days
  • Missed all family and friends terribly
  • Reached mental and physical lows from stress

Lost $500K contract

I am glad I didn’t get it. Relieved, actually.

I thought I could handle 60-80 hours for a job but instead, I cannot. I was being stupidly greedy to even think I could because just 40 hours a week is rough, considering the amount of calls I am on with just this “easy” contract. My partner thinks I won’t be able to last a whole year, but I am so petty that I will work all of 2021 to prove him wrong. HAH!

Mental and physical lows

I finally got an answer from a neurologist after examining me, and testing everything, that I suffer from aura migraines and it’s mainly triggered by stress in my case. Makes sense why my vision in my left eye blacked out this year, so I am happy to have an answer. The only key is to manage it with less stress, and not triggering it (light, heat and sound do this for me). Thus far, my friend’s recommendation of this therapy light has helped greatly.

New house purchase in limbo

To recap (I haven’t talked much about this, because I don’t know the timeline at all), we are planning on selling the condo, buying an acre and building our own home. I am also lightly toying with the idea of moving back to Ontario to be closer to friends/family within a reasonable driving distance. I haven’t brought it up yet to my partner because there are other considerations like his schooling and Little Bun’s schooling.

The secondary question is how to pay for said home: Save cash / Line of Credit / Home Equity Line of Credit / Mortgage / Sell investments?

No idea when the new home will happen so .. kind of in limbo. I will be looking more seriously this time into borrowing options however, and I want something easy to pay off, in a short period of time (under 3 years or less), because I really just need the interim cash until my condo is sold. As our condo is paid, a HELOC should be easy to get to have the home as collateral as a loan, and/or something else for the short-term.

Something has to give in my schedule

I will be working all of 2021 (still have time to rage quit…!!), so I will be scaling back on my side incomes to make room for this new job and to maintain my sanity because I will be unable to read or do hobbies like my upcycling jewellery as much if I am doing my job AND side incomes.

8 side incomes affected in some way or another:

  • Coaching: Out for the most part; the prep I have to do is for every 15 minutes, I spend half an hour. Doesn’t seem efficient.
  • Advertising/Affiliate: The less time I spend on social media and blogs, the less I make
  • Bank Interest: I am plowing all of my cash except about $10K or so into the market, will sell as needed but will be motivated not to
  • Bank Promo: I’ve already exhausted all the major banks to sign up for accounts for $300 bonuses; am on my last one – CIBC
  • Cash back anything: If I don’t spend, I don’t get cash back.
  • Resale: I do not have free time to take photos, manage buyers, etc, and I already need to do all of this work for the blog.

Not sure what will happen

I suspect we will not be able to go out much or travel for next year either, and I am planning on Grade 2 homeschooling of Little Bun into 2022. This is just the reality of what I am seeing. I am mentally preparing him and myself for that. He keeps asking when he will get to go to school and I have no answer. I am hoping 2023.

Here’s to 2021!

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Sherry of Save. Spend. Splurge.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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  1. raluca

    I am not trying to give armchair medical advice, but make sure your neurologist excludes multiple sclerosis. The vision problems are a possible symptom. As is feeling tired all the time. And multiple other things, truly MS is the gift that keeps on giving :(.

    1. Sherry of Save. Spend. Splurge.

      I should book a follow up. Thank you.


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