June 2022 Net Worth
After the “fun-filled” year we have been having, it is now time for yet another net worth post. Now, given the fact that the country is falling apart and my rights in the US have decreased since my last net worth update, money is infinitely more important than it was before. So, let’s get into it.
Here’s where we were last time:
Then: March 2022: $587,000/$187,000
Back in March, we had an increase that was almost entirely due to the house appreciating in value. Stocks, 401K, etc. mostly went down as is the current environment. We were contributing to my 401K, but had not yet gotten to the IRAs or increasing index funds. So where are we now?
Now: June 2022: $618,000/$168,000
An increase of $31,000 and a decrease of $19,000 without. And that is with me maxing out my 401K and with my contributions to our employee stock program. It’s fascinating to watch. Basically, the house is currently the most stable part of our net worth, followed closely by the IULs.
This is an interesting place to be considering that I actually hate adding the house to our net worth. Why? Because it is not an investment to me. We live here. Until we decide to sell it, if we decide to sell it, it’s not money we have access to. That’s why there are always two numbers in these updates. I include it mostly because if I am going to take a hit on the mortgage, I want the potential win on the value. And now that’s the only true positive to the net worth. Kinda crazy what real estate does for your net worth sometimes. I say sometimes because we should all remember/be aware when it was the exact opposite happened back in the 2000s.
Also, this quarter I had four paychecks, so an improvement from the last quarter. Of course, those paychecks all together came in less than the three paychecks from Q1 so, yeah. Hopefully, we can get some of the construction delays under control and this number can increase.
Financial Independence Milestone: Still VacayFI
Between just our index funds, employee stocks, and IULs we have about $74,000 invested. We are $1000 away from the next milestone. Only $1000 away. And that is due to the employee stock hitting the account. More than likely, it will start to go down now. 😂
A reminder: We only use these accounts (index funds, employee stock, & IULs) since they are the only ones we have without age restrictions. The IRAs and 401Ks cannot be accessed until we are 59.5 so, we don’t include those in this factor. Although with just my 401K, I should be a millionaire without contributing another penny (assuming it doesn’t go down too far this year).
If you are wondering what the hell I am talking about with this, check out Guac’s awesome post about these particular milestones here.
All in all, net worth has increased. I am realizing that the goal of $700,000 net worth will probably be met, but almost entirely due to the investment property once it closes. That’ll be interesting to see.
How did you do in quarter two of 2022? Did your net worth go up or down?
Feature Photo by Paul Zoetemeijer on Unsplash
I’m the same – breaking even on investments even though I’ve been adding about $600 per month (separate to my retirement fund which has gone down) but feeling the benefit from making big mortgage repayments since the start of the year.
The big mortgage payments are HUGE right now. I am partially thinking that if we were not buying that investment property, we would have switched gears to pay off the house this year. Glad you’re managing to break even.
I’m SO excited for you to hit the next milestone coming up!! FoodieFI here you come!
Me too! I was so close and part of me thinks it’s going to go down because of the everything happening so that would suck. lol