Financial Independence Report – June 2022

Michael QuanFI / FIRE, Investment, Misc, Net WorthLeave a Comment

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Financial Independence Report – June 2022

Financial Independence Report – June 2022

Take a peek at our Financial Independence Report – June 2022.  This includes a synopsis of our net worth and monthly cash flow activity.

Learn HOW to calculate your net worth, but NEVER define yourself by it.  Curious as to WHY I calculate and share our personal net worth?  I explain it here.

Want to track your finance automatically and for FREE?  See how I use Personal Capital to help create these financial reports.  If you’re new to budgeting, download my F.I.R.E. Budget spreadsheet.

June – Overview & Updates

June was a great start to our summer!

Our kids got out the first week of June and we’ve been busy ever since. Our first trip was to AZ with our neighbor friends. We usually have gone to Mammoth Lakes, CA in years past, but decided to change it up and see what AZ had to offer and we’re glad we did.

Horseshoe Bend, AZ

Surprisingly it wasn’t too hot and the Airbnb was super nice. It had everything you could think of including a fire pit, jacuzzi, and TVs in every bedroom. We visited Sedona, the Grand Canyon, Flagstaff, and Horseshoe Bend.

While we were exploring AZ, Business Insider called and asked me to do an interview with them which led to this article:

A 45-year-old who retired at 36 shares the 5 money habits that allowed him to ditch his job decades early

They are planning a follow-up article in July (hopefully not behind their paywall this time). This led to a nice little pop in book sales which is always great to see.

On the health front, I’m just about completed with my WildFit challenge which was quite the journey. It’s been nearly 90 days and I’ve lost 18 lbs (although it was never about losing weight). More importantly, is that I’ve gotten myself unaddicted to the refined sugars I used to crave daily. The challenge now is to continue this journey into perpetuity and continue doing the right things for my body.

Ironically, I’ve also been dealing with some abnormal heart arrhythmias lately. The docs are doing some tests to make sure it’s nothing serious, but this is a great reminder that health is a HUGE part of our wealth! Don’t take it for granted.

Alright, let’s get to the numbers…

Net Worth Summary

Financial Independence Report – June 2022

June continued the downward trend of our net worth. However, we are still positive for the year so far.

We finished the month at $3,064,254 vs. $3,168,302 this past May.  This is a -$104,048 decrease to our net worth or -3.28% by percentage.

Ouch! Most of this was from a reduction of equities ($76K!), but some crypto and real estate losses as well… our primary home dropped a bit in value.

Cash Flow

Our cash flow was POSITIVE for April.

Cash flow was down by $500 this month and came in positive at $2511.


Income for June was UP from the last month to $22,784.

Our recurring income is primarily made up of my wife’s teacher salary, rental income, dividend income, misc investment income (like NFTs!), and online income (coaching, online related, book, etc.).

Rental cash flow is finally back where it should be, but there has definitely been some significant overhead this year.


June’s expenses of -$20,274 were UP compared to last month.

This month’s largest expenses went to pay for an unexpected repair at one of my rental properties in Las Vegas. An underground pipe is leaking from the water main to the house. Because it’s on my property, I’ve had to hire someone to jackhammer the concrete, find the pipe leakage, repair it, and then restore the driveway. This is going to cost me $11k+ for the job alone AND it’s not covered under the home insurance… OUCH. So far I’ve paid for half of the cost as you can see above.

Other large expenses included eating out, online software, the Airbnb in AZ, estimated taxes, and misc travel.

Finally, note that our mortgage payment for our primary residence has been cut down to $2500 which includes our PITI (principal, interest, taxes, & interest) PLUS an extra $300 that goes straight towards the principal (to accelerate our mortgage payoff).

Portfolio Balances (Equities)

Whoosh!! That’s the sound of our portfolios deflating… haha.

Financial Independence Report – June 2022

The portfolio value is $76K less than it was just 30 days ago. Hmmm… feels like a recession to me at least!

Final Thoughts

Well, it’s never fun to see our net worth drop by six figures in a single month, but cycles up AND down are a good thing.

I suspect we’ll enter into a recession officially at the end of the quarter. And if that occurs, I’m hoping to see some adjustments in RE prices in some markets. Let’s just hope my HELOC is in place prior to then. The bank has been dragging their feet yet again.

NFTs have been quiet for now, but I’m still minting occasionally and picking up some cool ones (like Darth Vader UR last month).

Remember, there are always opportunities in any market. The question is can you see them? And, are you willing to go after them.

Readers, how was your July? Do you have any 4th of July plans?


Have you joined my Facebook FINANCIALLY ALERT FACEBOOK GROUP?  It’s growing quickly. Come check it out and join the conversation.

Michael Quan
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