September 2022 Net Worth
We finished quarter three! Only one more quarter in the year to go and, by the posting of this, we’ll be one full month into said quarter. Been a crazy last three months which seems to be the trend since late 2019: Ukraine mounting the best counter-offensive ever, life expectancy in the US going down due to covid, monsoon rain & floods in Pakistan, Biden acknowledged MAGA as a threat to democracy, Serena Williams retired, the Queen died, Cuba legalized same-sex marriage, and Hurricanes Fiona & Ian did massive damage. I like to spell it all out because in the past we would have considered all that to be a crazy year. But nope. That’s just July- September and that’s not even everything. We are, sadly, in unprecedented times. But we’re still here and we’re going to keep being here.
So, let’s get into the money part. That’s what you’re here for after all. 😂 Here’s where we were last time:
Then: June 2022: $618,000/$168,000
All in all, not bad. The market was down but our net worth went up due to real estate. We had maxed out the 401K and were doing okay all things concerned. And this was on four paychecks from April- June 30th. Imagine if homes actually closed when they were supposed to.
We also were not yet contributing to our IRAs, index funds, or increasing the amount to our IULs since we were focused on the cash out of pocket for the rental home. And due to the stock market being down, we were still stuck on VacayFI on the Guac Scale.
So, with that, how are we looking now?
Now: September 2022: $671,000/$221,000
We went up $53,000 in both areas. Why? Cause the rental closed and is now part of the calculation. No other reason exists. Investments are pretty much exactly where they were before. We still have not started contributing to IRAs, index funds, or maxing out our IULs. It was all that rental home.
Thanks to said rental home, we achieved a goal I didn’t even realize I was looking for: All our assets combined (that felt very Captain Planet) now equal over one million. While we are aiming towards FIRE and doing everything we can to get to that total invested of 1.5 million, I still wasn’t prepared for the one million in assets. Naturally, the expenses brought that down, but it was still really cool to see.
Oh! And just to clarify: the $221,000 DOES include the rental property as an asset, but does not include our primary residence. That’s the only difference between the two. And we did not increase the value of our primary residence in the assets either. Zillow claims it has gone up, but I’m just gonna ignore that for the time being.
I did look back just because I was curious and I also only received four paychecks during this quarter. However, one of them was my all-time-high record paycheck, so it works out.
Financial Independence Milestone: FoodieFI
Finally made it to the next milestone. Between just our index funds, employee stocks, and IULs we have about $81,000 invested. This is entirely due to company stock. Without it, this number would not have moved anywhere but down for the year.
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.
Only $29,000 from the 2022 goal of $700,000. Not sure if we’ll make it, but we got a shot so yay!
How did you do in quarter three of 2022? Did your net worth go up or down?
Feature Photo by David Brooke Martin on Unsplash
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