Your Assets (What You Own)
Your Liabilities (What You Owe)
Your Net Worth
| Asset Category | Value |
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Why Net Worth Matters for FIRE
Net worth is the single most important number on your FIRE journey. It is the difference between everything you own (assets) and everything you owe (liabilities). Tracking it monthly gives you an accurate picture of your financial progress and motivates you to keep building.
Investable Assets vs Total Net Worth
For FIRE purposes, your investable assets matter more than your total net worth. Your home equity does not generate income unless you sell the home or take out an access bond. Investable assets — your RA, TFSA, unit trusts, ETFs, and cash savings — are what actually fund your retirement. Focus on growing these.
How to Track Your Net Worth
Calculate your net worth on the first day of every month. Record it in a spreadsheet. Over time, you will see it grow — and the compounding acceleration in later years is genuinely motivating. Most FIRE practitioners find that net worth tracking becomes one of the most powerful behavioural tools in their arsenal.
Frequently Asked Questions
Yes, include it for total net worth tracking. But for FIRE planning purposes, exclude it from your investable assets — unless you plan to downsize or sell. A paid-off home reduces expenses but does not generate income.
Monthly is ideal. It creates accountability and lets you see the impact of investment growth and debt repayment. Even quarterly tracking is far better than never.
There is no single answer — it depends entirely on your income, expenses, and FIRE number. Focus on your personal FIRE number, not general benchmarks. The only number that matters is whether your investable assets are growing toward your target.