May 2022 Net Worth Update

Net Worth

It’s been a busy month so I’m just going to put up a quick net worth update for May! This report documents my financial snapshot as of May 1st. Obviously, the month of April saw some extreme turbulence in global financial markets and every net worth update I’ve seen this month has been negative, including mine.

 

 

Net Worth = Assets minus Liabilities

 

AssetsAmountChange from Last Month
Checking/Savings$33,048 
Retirement Accounts192,189 
Taxable/Nontax Investments49,325
Misc. (Gold/Silver/Cash/Collectibles)9,650 
Total Assets284,212-13,839

 

LiabilitiesAmountChange from Last Month
Credit Cards$16,895 
Student Loans196,082 
Total Liabilities212,976+29

Net Worth = $71,235

Change in Net Worth from last month: -$13,869

Total Change in Net Worth Since July 2020: +$119,463

 

Net Worth Summary

April was a down month across all the financial markets and my net worth decline is directly attributable to that. The total asset value fell a little under $14,000. When considering the S&P 500 fell by about 9%, the $14,000 decline I saw on a $300,000 asset balance doesn’t feel so bad. I’m continuing to max out my retirement contributions and taking advantage of buying the dip through dollar cost averaging in that account, so the decline was also softened by those additional funds.

With my current employment expected to end in about a month due to the mandated “return to office” this is a bit concerning. Since I don’t think I will be in as comfortable of a position as I’d hoped since my employment is ending ahead of schedule, I am exploring options for the coming years. I think it will be similar to the “Barista FI” method where I will work doing something I enjoy for a few years in order to let my investments continue to grow a bit before plunging completely into early retirement in a lower cost location.

That’s it for a now and I’ll return next month with a more robust update and starting in July I’m planning to start some more regular financial topic posts!