Hey guys –
I’m back – a bit late with my May net worth update. With good reason – there’s not too much to be excited about in the markets right now. This month, I’ve weathered my largest net worth decline since I started tracking my net worth.
Let’s take a look at the numbers:
The overall trend over the last two years is up – but I seem to be peaking right around the $240k mark and have been unable to break that level in for about six months. This is not very long in terms of an investing timeline, but it can be discouraging for those who are used to the market of the last ten years of drops followed by sharp rebounds.
Here’s how my net worth has changed every month since I started tracking:
Previous Net Worth Updates:
- April 2021: $181,250
- May 2021: $183,791
- June 2021: $190,804
- July 2021: $197,184
- August 2021: $199,983
- September 2021: $212,956.29
- October 2021: $206,686.24
- November 2021: $231,033.70
- December 2021: $229,413.73
- January 2022: $234,429.64
- February 2022: $226,337.39
- March 2022: $224,727
- April 2022: $238,798
- May 2022: $214,133
May 2022 Net Worth Update: $214,133
- Cash: $25,380.28 (-$1,410.23)
- Checking Account: $2,845.30
- High-Yield Savings: $22,514.79
- Investments: $170,282.38 (-$14,012.54)
- Work 401(k):$96,096.04
- Roth IRA: $50,667.61
- HSA: $22,434.92
- Taxable Brokerage Accounts: $1,083.81
- Cryptocurrency: $22,321.81 (-5,394.38)
- Bitcoin: 53%
- Ethereum: 47%
- Debt: ($3,850.95) (-$3,847.77)
- Credit Card: ($3,850.95)
Pretty much everything is down. A few things that stick out to me about the numbers – my cryptocurrency accounts really took a hit – dropping more than 20%. I’ve also got a bit more short-term debt. As I mentioned in previous articles, me and my wife are incurring costs from getting ready to move into our new home, which is why I’m getting a bit more conservative than I usually do on the cash side.
Preview: June is looking to be even worse in the market than May. However, my investing horizon is long-term and my job is stable for now, so I’m not that worried about a large dip in the market.
Are you guys getting discouraged by the drop in the market? Hopefully you can gather with like minds that hold a long-term investing horizon and continue to invest. History shows that these kinds of times are traditionally the best to get into the market, even if it takes a few years.
Stay the course!