2022 Recap

Happy new years eve! It’s 12/31/22 and it’s time for another annual recap.

First off, what another wild year … after an extremely strong 2021, we had a very challenging 2022. I had a lot of learning about the markets to do this year:

  • Don’t be afraid to go short
  • For speculative investing – pick a single stock and trade it both ways or focus on understanding sectors and future events better

While we had successful contributins in 2022, we didn’t really produce gains this year.

2022 Goals:

  • Max out both of our IRA’s – ACHIEVED
  • Max out my 401k – ACHIEVED
  • Max out spouse 401k – MISSED (My 401k was maxed, but spouse switched jobs and was not eligible for 401k contribution part of the year causing a miss)
  • Contribute $30k to taxable brokerage account – MISSED (Contributed $15,362, 51% of goal)
  • Setup a will / estate planning – MISSED
  • Take the family on a trip to Destin, Florida – MISSED (Intentionally did not plan a trip here, instead made plan for Chicago in the fall and Disney World in spring 2023)

It was a challenging year, for 2023 we are going to be focused on accumulation again. Net worth based on investments, bank accounts, retirement is $330k excluding updated spouse 401k and IRA, card owned outright, boat owned outright.

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