Hey guys –
I’m back with my monthly net worth update for the month of July.
I continue to see a downward trend in my net worth over the last few months. Mostly, this is due to market conditions, but other factors are contributing as well, mostly being costs to support my wife and I’s purchase of our new home.
However, I continue to be optimistic about the trajectory of our net worth, despite the last few months of decreases. We’ll be moved into our new home soon – so our monthly housing payments will start to go towards equity.
Also – our monthly mortgage, insurance and property tax payments are actually less than the rent we pay right now, so going forward we’ll be building equity as well as allocating a higher percentage of our extra income towards investments. We’ll definitely take a short-term net worth hit, but it will be more optimal for overall returns in the long run.
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
- June 2022: $202,802
- July 2022: $180,672
July 2022 Net Worth Update: $180,672
- Cash: $20,685.76 (-$7,828.03)
- Checking Account: $9,685.76
- High-Yield Savings: $11,000.00
- Investments: $164,209.60 (-$6,245.60)
- Work 401(k):$95,329.66
- Roth IRA: $48,090.80
- HSA: $20,766.22
- Taxable Brokerage Accounts: $22.92
- Cryptocurrency: $10,716.68 (-$5,699.99)
- Bitcoin: 57%
- Ethereum: 43%
- Debt: ($14,939.66) (-$2,356.07)
- 0% APR Loan: ($9,442.10)
- Credit Card (0% APR): ($5,497.56)
These are my net worth numbers as of July 1st – so my August net worth will be coming soon. Already, my August net worth is looking significantly better, but it’s interesting for me to observe that this is my lowest net worth number since tracking began last April. The main factors in this to my assessment are our upcoming home purchase, the fall of crypto prices, and the fall of the overall market.
However, I’m sticking to my investment plan and not getting discouraged. We’ve got a lot of value that we’re creating at the moment and I’m excited to continue to track it.
How are you guys doing? Hang in there, significant amounts of wealth will be created by smart investing during this period of market downturn. Happy investing!