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A little over six years ago I handed in my resignation<\/a> at my public sector day job to focus full-time on advice-only financial planning<\/a>, this blog, and some paid freelance writing work.<\/p>\n Suffice to say, that was one of the best decisions of my life. No more Monday morning budget meetings, performance reports, or KPIs. Now I could work on what I wanted, when I wanted, right from the comfort of my own home with my wife and business partner.<\/p>\n Forget the fact that we launched into this at the start of a global pandemic. That may have actually been a blessing, as the world grew more accustomed to working remotely over Zoom and other online tools.<\/p>\n Our business has exploded since then, exceeding our wildest expectations of what was possible. Along the way, I’ve been a guest on the Rational Reminder podcast, The Wealthy Barber podcast<\/a>, the annual Canadian Financial Summit, and even wrote my first op-ed<\/a> in The Globe & Mail this year.<\/p>\n We’ve also updated our website to reflect that we’re now a financial planning firm with a blog on the side, not the other way around.<\/p>\n On the personal finance front, we’ve benefited from a growing income and a raging bull market (Covid crash and 2022 blip aside). My RRSP has grown by 101% in six years, despite not having made a single contribution in that time. Incredible!<\/p>\n We reached the million dollar mark in our net worth at the end of 2020. That felt like a monumental milestone. But just five years later and we’ve cracked $2M in net worth.<\/p>\n It was going to take an exceptional year in the market for us to reach that milestone, but that’s exactly what happened. Our investments, mostly held in Vanguard’s All Equity ETF (VEQT), were up 20.56% in 2025. That did most of the heavy lifting for us.<\/p>\n Additionally, we increased our salary & dividend combination (with designs on contributing to our RRSPs next year and into the future), which allowed us to contribute aggressively to our TFSAs.<\/p>\n We’ll complete our TFSA snowball<\/a> next year, plus start those RRSP contributions as mentioned. From there, we’ll balance our RRSP and TFSA contributions with some extra mortgage payments, plus financial assistance for our kids through post-secondary and early adulthood.<\/p>\n All while continuing to travel and add to our accumulation of memories \u2013 those pay the best dividends over time.<\/p>\n Since I’ve already spoiled the outcome (that we hit the $2M mark), here’s how our net worth looks at the end of 2025:<\/p>\n \t202520242023% Change<\/p>\n \tAssets<\/p>\n \tChequing account$12,000 $12,000 $12,000 0.00%<\/p>\n \tCorporate cash balance$60,000 $55,000 $75,000 9.09%<\/p>\n \tCorporate investment account$562,848 $444,117 $305,617 26.73%<\/p>\n \tRRSP$456,847 $378,600 $302,411 20.67%<\/p>\n \tLIRA$303,019 $251,172 $204,231 20.64%<\/p>\n \tTFSA$169,198 $52,297 $0 223.53%<\/p>\n \tRESP$139,422 $122,293 $100,796 14.01%<\/p>\n \tPrincipal Residence$976,000 $976,000 $976,000 0.00%<\/p>\n \tTotal assets$2,679,334 $2,291,479 $1,976,055 16.93%<\/p>\n \t\u2014<\/p>\n \tDebt<\/p>\n \tMortgage$460,899 $481,077 $500,155 -4.19%<\/p>\n \tTotal debt$460,899 $481,077 $500,155 -4.19%<\/p>\n \t\u2014<\/p>\n \tNet Worth$2,218,435 $1,810,402 $1,475,900 22.54%<\/p>\n It’s amazing how much investment returns drive our overall net worth growth now versus 5-10 years ago when savings contributions really moved the needle more. While we contributed significantly to our TFSAs, it was the 20%+ investment returns that did the heavy lifting this year.<\/p>\n Now let\u2019s answer a few questions about the way I calculate our net worth:<\/p>\n Credit Cards, Banking, and Investments<\/p>\n Earlier this year I closed the TD account that I’ve had since I was eight years old and moved my everyday banking to Wealthsimple.<\/p>\n My wife and I follow a simple approach to our banking: One joint account where income flows in and joint expenses flow out, plus one no-fee personal account for agreed-upon guilt-free spending.<\/p>\n We have a joint credit card at Scotiabank (Passport Visa), but funnel most of our spending onto our Wealthsimple Visa Infinite cards (2% cash back on everything).<\/p>\n Once or twice a year we’ll apply for a new rewards card to build up our points, focusing on American Express Membership Rewards, Aeroplan, and Mariott Bonvoy as our go-to travel programs.<\/p>\n All of our investment accounts (RRSPs, TFSAs, my LIRA, our kids’ RESP, and our corporate investment account) are all now held at Wealthsimple’s self-directed trading platform.<\/p>\n You know all of this from my post about\u00a0how I invest my own money<\/a>.<\/p>\n RRSP \/ LIRA \/ RESP<\/p>\n
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