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.
- 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.