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2022 Financial Goals: How’d We Do?

Goals

Now that we have successfully made it to 2023, we can see where we ended up with our 2022 financial goals. Given how the stock market took a dive, I wasn’t expecting too much this year. “Better than last year” became my goal around April and I stuck with that mindset for the rest of the year. But, the universe did manage to surprise me.

Here are the links to check out our previous updates so you are up to speed:

So without further ado:

Here were the 2022 Goals:

  • Purchase an Investment Property
    • $60,000 for down payment & cash closing costs
  • Max out my 401K
    • $20,500 for 2022
  • Max out our IRAs
    • $12,000 for both of us
  • Max out IULs
    • $16,045 for both of us
  • Set Up Our HSA to Be Maxed Out
    • $7300 for both of us
  • Get Mortgage Under $150,000
    • $17,150 for 2022
  • $15,000 to Charity/Direct Aid
  • Make $275,000 in gross income
    • Up $25,000 from last year
  • Make $3,000 net in rental income in 2022
    • Really depends on when the home closes being new construction and all.
  • Invest $25,000 in Index Funds/Employee Stocks
  • Increase Net Worth to $700,000
    • A nearly $150,000 increase from 2021

365 days later, here’s how we did:

  • Purchase an Investment Property
    • $60,000 for down payment & cash closing costs
  • Max out my 401K
  • Max out our IRAs
    • $12,000 for both of us
      • Done!!!
  • Max out IULs
    • $16,045 for both of us
      • Nope. Did $6000 for the year.
  • Set Up Our HSA to Be Maxed Out
  • Get Mortgage Under $150,000
  • $15,000 to Charity/Direct Aid
  • Make $275,000 in gross income
    • Up $25,000 from last year
  • Make $3,000 net in rental income in 2022
    • Really depends on when the home closes being new construction and all.
      • Did we make $3000? Yes! Did we “net” $3000? Nope.
        • Pretty sure I noted that this goal was made in a previous update, but that’s cause I did not read the part that said “net”. 🤦🏿‍♀️
  • Invest $25,000 in Index Funds/Employee Stocks
    • Nope. Got to just under $20,000 in company stock.
  • Increase Net Worth to $700,000
    • A nearly $150,000 increase from 2021

All in all, we hit eight out of the eleven goals which I think is pretty awesome. Some things were entirely out of our control (like everything associated with the rental) but I think we did great, all things concerned. We made the charity/direct aid goal this year, which was a higher goal due to missing 2021’s goal, while also buying a whole-ass investment property. There was a lot of stuff that happened this year and that’s without even getting into the craziness of the world. But even if we failed at everything we survived and that is an understated level of awesome in this day and age!

So that’s a wrap for 2022. Onward to 2023!



How did you do on your 2022 goals?


Feature Photo by Zoe Schaeffer on Unsplash

5 thoughts on “2022 Financial Goals: How’d We Do?”

  1. Amazing! It’s awesome that your investments are even up despite the rockiness of last year. I am curious whether your rental has a loan and if you were able to get it before rate went up?

    Reply

    1. Hiya! Thanks! I believe they are lower than they were in March 2022 but higher than the rest of the year. Plus it helps that we maxed out the IRAs right at the end there. 😂

      As for the rental, it definitely has a loan and we did get a higher rate. Was a very fun time learning what our rate would be. 🙃 Interest Rates Are Important

      Thanks for reading!

      Reply

      1. Nice. Yeah, we have thought of buying a rental but I am concerned about interest rates right now. Property taxes went up about 30% for us this year so there’s that to consider too.

        Reply
  2. Pingback: 2023 Financial Goals – From One Geek to Another

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