January 2023 Net Worth Update

January 2023 net worth year in review

The only way is up….

By MeTheMillennial

January 2023 – Year in Review and Net Worth Update

Wow, it’s been a while since I last checked in. Things have been crazy the last few months, but more on that later.

I want to use this net worth update to:

1) Breakdown my current net worth, and provide tips to you on how to increase yours,

2) Share my Year in Review in terms of what and how my net worth can and did fluctuate during a “Bad” year in the stock market… i.e. provide a much needed dose of realism to peoples expectations of getting rich quick!

Make sure to check back on my previous updates to see how my portfolio has grown, and shrunk :(…over the years!

Before I get into it, I want to thank you the reader for commenting and interacting with my posts over the last couple of years, along with the many emails I have received. Each one I read and take the time to respond to, so keep them coming. 

Also the plan is to post much more regularly for 2023 so expect a lot more interesting (I hope) stories and learning opportunities for you to start or continue your journey to achieving financial freedom.

My personal goal is to achieve FIRE, financial freedom retire early, by the aggressive age of 35 (I am now 31) with a portfolio of $1.5M.

If you haven’t started your own investing journey and finding financial freedom, now is the best time in a decade to do so, when the stock market is down and fear is widespread that is the perfect time to start!

To help get you started in 2023, I have included a free downloadable template below, just enter your email and it will be sent to your inbox.

Print it off! and follow the SMART instructions to craft your financial goals now.

This little bit of effort will pay dividends in the long run.

This is how I actually write my own goals every year and has been one of the key reasons I am on track to achieve financial freedom by the age of 35.

Download FREE printable SMART financial goals template now


Send download link to:

*As always, I am not an expert or financial advisor, so nothing on this website should be considered financial advice. These are just my opinions, everyone is different. Always do your own research and have your own independent thought process.

Overlooking Dublin Bay

Life Update

The last few months have been crazy … crazy good, not crazy bad.

As you are aware I finally got out of my high paid stressful job which I quit over a year ago, and have never looked back since. 

My new job, provides the vacation time and mental space to actually enjoy my evenings and holidays without ever now actually worrying about work outside of working hours. 

It is honestly bliss… for anyone who is struggling mentally with work right now, trust me I’ve been there … check out this post which might help you, there is light at the end of the tunnel.

I spent a month home back in Ireland, and I tried my best to completely unwind away from technology and the stock market. It was my first time back to Ireland in 2 years, and the first since I left that dreaded job (and golden handcuffs) behind. 

My brothers actually commented that I look healthier with less grey hairs … so not only will you feel better getting out of a job you hate but you will also look better 😉 

I spent lots of time with family celebrating Xmas, typical large Irish family and lots of time outdoors with my family dog. I’ve included some snaps of some of my favourite spots – reach out if you plan of visiting Ireland, I would be delighted to share my recommendations. 

I returned back to Vancouver ready for all that 2023 has in store and a goal of hitting $500k by year end.


I definitely have felt at time saving, investing and your net worth becoming all encompassing .. make sure to take time to completely switch off for a while … a day, a week or even a month.

You will gain some valuable perspective and come back rejuvenated and ready to smash your goals. 

Plus if you follow a well diversified portfolio with Index funds there should be no check the share prices as they zig zag up and down.

Out of interest, let me know in the comments how often you check your stocks. I used to do it multiple times a day, but now much less so.

So let’s dive into the numbers.

Net Worth Update (January, 2023)

My last net worth update was August, 2022, 6 months ago.

During 2022 my portfolio went through some big highs and many many lows. Lows that made me feel like I was sucker-punched in the gut by Mike Tyson.

But that’s just part of the process. If you keep a cool head and stay the course you will be rewarded.

 My net worth dropped to $290k in June 2022 from a high of $347k December 2021. That is a nearly ~$60k drop, which for me is a lot of money!

So as of January, 2023 where am I sitting at?

Read on for a breakdown by asset category

Current Net Worth Breakdown

January 2023, I am now worth, financially at least ~$321k.

Which is a decrease of $2k (1%) last Augusts update.

But thankfully, we are back on track and above 300k.

My goal for the end of the year is to get above $400k by December 2022 and even at a stretch break $500k. I need to to stay on track for my goal of early retirement by age 35.

My portfolio is definitely on the higher risk side given the size of my single stocks allocation, but I am comfortable with this given my age, responsibilities and goals. And I also believe there is a once in a decade opportunity to own great companies and huge discounts.

Asset Breakdown:

– Checking: $2k;  As you now I don’t follow the very good advice of keeping a cash buffer, mainly because of my age and lack of a mortgage or kids. So I pretty much investing all disposable income as I earn it, something I would recommend for people in a similar circumstance.

– Brokerage: $260k (-$9k); Decrease of $9k since 6 months ago in August all while on average I have been contributing $3k a month (although Xmas at home took a large chunk out of this). Not great, but could be a lot worse. 

You might be thinking, what the hell … you’ve contributed all of that money and you are still down on 6 months ago?? And I agree, I am asking myself the same question…..what the hell?!!

Well this is part of the process, I’ve got to keep my eye on the 5 or 10 year horizon and the corresponding growth that comes with this, as has always done throughout history.

I continued monthly contributions over the intervening months back into my normal index funds. I chose VCN, as I am a big believer in the Canadian stock market long term. 

My brokerage is now made up of the following (approximate % allocations):

  • Index Funds – 35%
  • Individual Stocks – 62%,
  • Gold – 3%

Regarding the above allocation, it constantly changes. But as I’ve mentioned before in 24-48 months time I want to reallocate my single stocks into Index Funds – my favourite Index/ETF funds are here. 

I currently have large single stock holding in Tech and E-Commerce companies like META, PAYPAL, JD, etc… all of which I believe are completely oversold and I expect them to drastically outperform the market in 2023!

Watch this space!

You will notice I haven’t any exposure into Crypto’s. I have never been convinced and willing to take on that level of risk and thankfully I didn’t due to the recent implosion of FTX and the corresponding fallout. Never invest in something you don’t fully understand.

– RRSP (Pension)  $63.5k (+$5k);  My pension increased this month, given the monthly contributions and it being a much safer investment (no single stocks), up $5k. As mentioned in previous updates I opted for a mutual fund that is 100% US equities. And I don’t plan on changing that anytime soon.

Liability Breakdown:

– Car loan (bank) $2k  (-$1k); Down to 2k already on the car loan. Should I include my car as an asset on my net worth? Let me know in the comments if you do.

– Rent, insurance and credit card $1k; No real change here.

Year in Review 

So if we compare January 2022 to January 2023 how did we perform?

  • Jan 2022: Net Worth of $344k
  • Jan 2023: Net Worth of $321k

Okay, this is pretty depressing to look at. But that’s where people go wrong.

Smart long term investing is in its nature long term! Its not a quick and easy, get rick ponzi scheme. Bad years are to be expected, they have happened throughout history and will continue to happen in the future.

If we take a step back and look at how we compare to previous years,

Jan 2021: $220k or Jan 2020: $115k or even all the way back to 2016 when I was in debt with a negative net worth!

Look how far I have come by following the principles of living below your means, keeping your expenses low, and consistent investing every month. I hope to look back in 5 years and see this growth to continue.

And what happens if I fail to achieve my goal of $1.5M by age 35… big deal? No! 

I will do it by 36, or 37 then. Which sounds a heck of a lot better than not starting at all, and being shackled to debt and a job you don’t love until you are 65 and old and frail.

Start with the goal and use the SMART template to recalibrate your gaols every year. Adjust and move forward, your future self will thank you for it!

If you haven’t already make sure to subscribe, and like and share this post below. This helps me out hugely, especially during times like this.

If you need to email me, use the contact form here – always happy to chat to you guys/gals.

Happy New Year everyone!  


2 thoughts on “January 2023 Net Worth Update”

Leave a Reply

%d bloggers like this: