End 2022 Review - failing financial goal for the first time, <$650k 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:

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 $646k, a $40k 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.