We\u2019re currently sitting at a 69\/31 USD\/CAD split.\u00a0 With the USD\/CAD exchange rate sitting at 1.26 our liquid portfolio fully converted into CAD is $1,467,831.<\/p>\n

Withdrawal Rates<\/b><\/h2>\n

Let\u2019s see what this means when it comes time to withdraw.\u00a0 I like looking at a few different scenarios as we can cut down our spending if need-be in hard times (market tanks).\u00a0 I also like looking at what our withdrawal rate looks like with Canada Child Benefit (CCB) factored in since it is such a juicy benefit that we will be receiving for the first ~15 years. As previously mentioned, we do NOT rely on\u00a0any<\/b> external support in our FIRE figures (CCB, CPP\/SS, OAS, GIS) and view them as icing on the cake or to account for any future unexpected medical expenses we may encounter in old age.<\/p>\n\n\n\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n\n\n\n

<\/td>\n	Convert CAD to USD<\/td>\n	w CCB<\/td>\n	<\/td>\n	Not convert to CAD<\/td>\n	w CCB<\/td>\n<\/tr>\n
$25k\/year<\/td>\n	1.70%<\/td>\n	0.55%<\/td>\n	<\/td>\n	2.01%<\/td>\n	0.64%<\/td>\n<\/tr>\n
<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
$35k\/year<\/td>\n	2.38%<\/td>\n	1.23%<\/td>\n	<\/td>\n	2.81%<\/td>\n	1.45%<\/td>\n<\/tr>\n
<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
$40k\/year<\/td>\n	2.73%<\/td>\n	1.57%<\/td>\n	<\/td>\n	3.22%<\/td>\n	1.85%<\/td>\n<\/tr>\n
<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
$45k\/year<\/td>\n	3.07%<\/td>\n	1.91%<\/td>\n	<\/td>\n	3.62%<\/td>\n	2.25%<\/td>\n<\/tr>\n
<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
$50k\/year<\/td>\n	3.41%<\/td>\n	2.25%<\/td>\n	<\/td>\n	4.02%<\/td>\n	2.65%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n It\u2019s pretty awesome to see that the only scenario where we are currently over the \u201c4% rule\u201d (by only 0.02% at this point) is if we spend $50k\/year and not have the USD\/CAD conversion in place and also assume $0 in CCB. It is highly unlikely we will spend $50,000 every year <\/span>and<\/b>\u00a0have the USD\/CAD sit right at par\u00a0<\/span>and<\/b>\u00a0somehow see CCB dramatically altered\/removed in the near future.<\/span><\/p>\n Putting It All Together<\/b><\/h2>\n Total Assets:<\/p>\n \n Liquid Investments: $1,234,406<\/li>\n Townhouse: ~$300,000*<\/li>\n Home: ~$400,000*<\/li>\n Total: $1,934,406<\/b><\/li>\n<\/ul>\n *We likely could sell our townhouse and house for more than these values above in the current market but we like to keep this value close to our purchase price as we do not know the true value until we actually sell in the future.\u00a0 (These figures are likely closer to what we would net after realtor fees in the current market).<\/p>\n Total Liabilities:<\/p>\n \n Mortgage on our primary residence: $304,544<\/li>\n Total: $304,544<\/b><\/li>\n<\/ul>\n Net Worth:<\/p>\n $1,934,406 \u2013 $304,544 = $1,629,862<\/p>\n Total: $1,629,862<\/b><\/p>\n There we have it! Comparing this to last quarter<\/a>, we were sitting at $1,551,483 so we are up $78,379 or 5.05%.\u00a0 I say it every time, but it’s true, these numbers continue to amaze me.\u00a0 Not too shabby considering neither of us are working!!\u00a0 Comparing this figure to\u00a0this time last year<\/a>, our net worth was $1,375,760 so we are up $254,102 or 18.4% in a 12 month period.<\/p>\n Since taking time off at work in June 2021<\/a>, we’ve seen our net worth grow by just over $105,000.\u00a0 This is just wild to me.\u00a0 It will be fun to track this number over time.<\/p>\n During Q1 2022 we will see some of the cash disappear from these calculations as we do not include anything in our RESPs or informal trusts in our own net worth figures.\u00a0 I also will be receiving my 2022 bonus in March of this year to reflect the work from the first half of 2021.\u00a0 Our team had another awesome year so it will be interesting to see what this bonus looks like.<\/p>\n Even though I understand the\u00a0magic of compound interest<\/a>, it continues to amaze me.\u00a0 I still feel quite confident that we will reach our FatFIRE goals before my parental leave is up which is crazy to think considering neither one of us will be working!\u00a0 I\u2019m really interested to see what our net worth looks like 6 months from now after a year of no employment income at all to report besides my bonus from the work I did from earlier in 2021.<\/p>\n Those following along know we have a few other items in our portfolio that we like to hide behind the scenes as our true emergency fund such as my Health Savings Account (HSA), my pension from my previous employer, Nic\u2019s small 401k from her former employer, our children\u2019s RESP, and any CCB\/CPP\/SS\/OAS\/GIS potentially coming our way in the future.\u00a0 So for the sake of this exercise we are not including them.<\/p>\n The key to all of this is to stay flexible.\u00a0 If we see the markets tanking during the early years we have no problem tightening the spending belt and taking some staycations vs longer vacations.\u00a0 We also have no problem picking up some fun part time gig for 15 hours a week to add some extra padding.\u00a0 We are humans, not robots, and are capable of adjusting plans if need be.<\/p>\n Voila! Stay tuned to see how our net worth has changed in 3 months when we check back in on this. Stay weird and wealthy muchachos!<\/p>\n Support This Blog<\/b><\/h2>\n If you liked this article and want more content like this, please support this blog by sharing it.\u00a0 Not only does it help spread the FIRE, but it lets me know what content you find beneficial.\u00a0 Writing is NOT my strong suit and it honestly takes me hours to write each post so the more encouragement the better!\u00a0 Engaging in the comments below keeps me motivated.\u00a0 You can also support this blog by subscribing to receive emails anytime a new post is published.\u00a0 Thank you FImily!<\/p>\n We believe in stacking up life hacks to keep your enjoyment levels to the max without depleting your bank account.\u00a0 Here are some ways to further educate yourself and save thousands of dollars over your lifetime by making some simple adjustments:<\/p>\n \n Investing Newbies: Check out our\u00a0free Investing 101 Series.<\/a><\/li>\n How much are you paying for your phone plan?\u00a0 Canadians,\u00a0learn more about Public Mobile, and see how we are paying $3\/mo for our cell phone plan<\/a>.<\/li>\n How much are you paying for internet?\u00a0 Canadians,\u00a0learn more about the various Independent Service Providers out there to see who services your area so you can lower your monthly bills<\/a>.<\/li>\n How much are you paying for home insurance?\u00a0 We were able to reduce our rates by 25% by switching over to Square One Insurance.\u00a0 If you live in BC, AB, SK, MB, and ON,\u00a0check out Square One for your home insurance, landlord insurance, and\/or tenant insurance<\/a>.\u00a0 Use this link to receive an extra $15 off your quote.\u00a0 (Note that you must use this link to start the process to get the $15 off even if you prefer to pay over the phone.)<\/li>\n How much are you paying for your monthly utility bills?\u00a0\u00a0Fellow Albertans, see how you can likely save on this monthly expense<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":" Bam! Out with the old and in with the new.\u00a0 Happy New Year everyone!\u00a0 This year I am aiming to live in contentment, be grateful …<\/p>\n Quarterly Net Worth Update: Q4 2021<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[16],"tags":[],"yoast_head":"\n