Skip to main content

End 2022 Review - failing financial goal for the first time, $660k net worth

In end 2021, I shared that I was hitting close to $700k in net worth.

I did. On 1 Jan 2022. 

But, things just went downhill from then on. 

Here's a recap of my finances over the years:

Targets review:

These were what I set out for 2022:
  • Aim to achieve $850k net worth in 2022❌
  • Bring my parents out for an overseas trip; if not make do with cruise trip❌
  • Grow crypto portfolio to 10% of networth❌
  • Material wants: buy a rolex and LV/chanel bag✅ (no rolex or chanel, but a LV)

2022 Review

Here's a recap of what went by in 2022:

Jan
Feb
Apr
Jun
Jul
Sep
Dec
To sum up 2022:
  • I paid tons of money on fertility treatments and embarked on the the most painful (physically, mentally and for my pockets) - IVF. The worst? Seeing no result despite the money and efforts poured.
  • Stocks, crypto crashed which means a beating on my net worth. Income received couldn't cover the losses.
  • The best thing that happened was a new job, with a better compensation. I hope the 2023 recession won't affect my rice bowl.

Net Worth

And with that, something everyone is here for...my networth at $660k, a $30k drop compared to 2021. This made it seemed that I earn nothing from my employment, interests from bank, reits etc, and cpf.

If my stock and crypto remained at the level of 2021, I'd have $750k in 2022. Still not a lot compared to my usual growth. 

If only I continued my conservative way of purely saving money, and not investing in stocks or crypto.

If only.


Hopes and Goal for 2023

In end 2021, I spoke about how I've come to terms about not having a child. It's a constant struggle because I get disappointed every single month. I decided that while I am still in my early 30s, I should take a gamble and proceeded with IVF. It was an abrupt decision - what I needed was time and money. Wrt money, I had to set aside >$30k, which isn't a small sum but I'm thankful I have the means. Wrt time, I had to sacrifice work; I had to bite the bullet and face the consequences of incurring wrath from unsympathetic bosses. 

I was prepared to give up my time and money.

But it broke me (literally) when I failed. 

Maybe I didn't build my body well enough, for my decision to do IVF was sudden.  I thought I had a chance to witness a positive result, before the end of 2o22. But it wasn't meant to be.

In end 2021, I also spoke about how work is just a means. It still is. But this time, I feel more motivated to be seen as a strong worker, so that my job is protected from any retrenchments. This means, I need to work smart and not quiet quit. I hope my motivation don't lose steam mid-way next year. 

I still aspire to retire at 40 though.

Here's setting 2023 goals and reusing 2022 ones that I failed to meet:
  • Aim to achieve $850k net worth in 2023, the exact goal as 2022
  • Bring my parents out for an overseas trip
  • To do well in my new job
And lastly, a vision board for 2023. Can you guess what it's about?  

With that, I'm closing 2022 and praying for better luck in 2023.
Labels:

Comments

Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

SGD$1,000,000 networth unlocked 🎉

As of 8 Dec 2024, I have officially unlocked the milestone of $1m networth ðŸŽ‰ This is all thanks to the increased in value of my crypto holdings as well as my US stocks. My HK/CN stocks are still in bad shape. On stocks front, truthfully, my overall investments is still in the red. I had made mistakes in stock picking and has not taken the opportunity to cut losses. I had the view to hold and pray those stocks in deep red would go up - after all, I told myself I don't need the money right now. On crypto, given that BTC has bounced back, I'm sitting on decent profits. I've been cashing out bit by bit. The last I spoke in Mar , I cashed out a rather sizeable amount of BTC at 50% profit. On hindsight, if I had waited till now, I could have cash out 3000 SGD more. Anyway, this time round in Nov, I cashed out 2 times, at a 70%-80% profit. Not bad considering the rest of my investments. As long as there are no major global events impacting the markets negatively, I believe I woul...
2 comments
Read more

🤞On track to hitting $950k networth by end 2024🤞

Another blink, another year ending soon. How have you guys been? I wonder who else is still monitoring my blog despite my lack of updates. Again, so much has happened, but not much have changed. I travelled well, continued with a 3rd round of IVF egg retrieval (result was extremely poor), and went through uncertainty at work due to restructuring but was thankfully able to keep my job. I still haven't fulfil my dream of being a mother. Though honestly, it now feels more like a checkbox to be unchecked than the actual fulfilment of wanting to nurture and grow a child. I think the weariness is getting too much. I will embark on my final transfer within these few months. This would be my 7th transfer. If it fails, I'm likely going to stop further treatments. I have already done the best at my "peak".  I am telling myself that my life is still amazing despite these hiccups. Anyway, onto my financial goals. Back on 31 Dec 2024, I posted my goal to achieve $950k networth by ...
1 comment
Read more

Cashing partial BTC out at 50%+ profit

My first foray into crypto was during the hype. Back in Feb 2021 During Feb 2021 to Jun 2022, I added in bit by bit - DCA as what they say. BTC, ETH, MATIC, SOL and even the horror LUNA. Thereafter, as crypto crashed, I stopped, praying one day it will rise back. And today, as I found that BTC is now at ATH, I decided to cash out 1/4 of my BTC for some profits. It's still a far cry from the amount I've lost, but I'm glad I could recoup some losses. Just to detail for my future reference, I transferred my BTC from ledger to coinbase. And sold my BTC on coinbase to SGD, incurring an atrocious fee of $130 and GST of $12. Gone are the days of cheap transaction fees.  Please let me know if there are wiser/cost effective options. In total, what I took back was a profit of 50%.  May BTC rise up more so I can cash out at 100% profit next. -dated 9 Mar 2024-
Post a Comment
Read more