Financial Independence Report – May 2022

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

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Financial Independence Report – May 2022

Take a peek at our personal numbers for the month of May 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.

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May – Overview & Updates

May will be a month I won’t soon forget as I had the opportunity to go onto LIVE television for my first time on CBS8. It was a fun and remarkable experience to see the news studio. And I had the opportunity to be interviewed by Emmy award-winning TV anchor, Heather Myers. I feel like it went well and I am proud that I stepped up for another speaking opportunity. Let me know what you think!

As I mentioned in my news clip, I definitely recommend you look into I bonds. These are currently paying a whopping 9.62% virtually risk-free, so you probably don’t want to miss out on these while they’re so high. The interest rates do adjust twice per year, so keep that in mind and you will have to lock up your money for a bit. But, if you have some extra cash lying around, you really can’t beat these returns and low risk. I ended up purchasing some for myself, my kids, and soon for my wife.

This May (Star Wars month) included some new NFT purchases such as the Star Wars Comic #1, R2-D2, and Darth Vader! I caught some of these on the drop (initial sale) and was rewarded with some great appreciation out of the gate. These are long-term holds for me and were great additions to my growing collection.

I also sold off some NFTs during this downturn in the overall space, but I’ve also had several drops in value. We’ll see how it goes, but short term, the sales volume has shrunk considerably. Nevertheless, I was still about to snag some quick $5k+ profits due to some choice minting and timing.

Outside of NFTs, I purchased a new tennis racquet. This retails for $300, but my neighbor friend had a Wilson contact and was able to get it to me for half off… score!

May has been a big push for my health as I’ve continued participation in the Wildfit program (now halfway in). I’ve removed all refined and other sugars at this point which was a big stretch for me. I’ve previously had a pretty big sweet tooth, so cutting out sugars has been a huge 180. A big goal is to kick my addiction to sugar and be able to consume it in moderation later on without having the need to go back for it frequently.

Since starting the program I’ve lost 15 lbs, and more importantly become leaner, reduced my body fat by a few points, and feel great. Well, pretty good… I have been dealing with random heart arrhythmias that popped up in May also. Praying it’s nothing serious and I can resume normal activities.

Finally, I got to meet up with my buddy Dom over at GenYFinanceGuy. He treated me to a delicious lunch which was my one “cheat” day, although I didn’t veer too far off the “no sugar” path that day. He’s doing awesome and for those of you who haven’t read his blog, you should! Take a look at his early entries when he just had a few hundred thousand dollars to his name. And look at just how far he’s come now. But, more than any financial metric that he’s blown away, he’s maintained focus on what matters most… his family.

Alright, let’s get to the numbers…

Net Worth Summary


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

We finished the month at $3,168,302 vs. $3,208,283 this past April.  This is a -$39,981 decrease to our net worth or –1.25% by percentage.

This was caused by a reduction in crypto assets like NFT values despite some nice short-term wins. Also, this encompasses some misc downward adjustments in equities.

Cash Flow

Our cash flow was POSITIVE for April.


Cash flow was up an extra $1k this month to $3313.


Income for April was DOWN from the last month to $13,474.


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.).

We finally started to see some of the cash flow reshow back up for one of the LV homes and next month expect to see a complete return to “normal”.



April’s expenses of -$10,162 were DOWN compared to last month.

This month’s largest expenses went to paying taxes (both filing and estimates).

Restaurants and eating continue to be large expenses with costs at all restaurants UP across the board. However, we know we can always pull this discretionary expense back anytime.

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).

Unfortunately, I’m eyeing a pretty big property expense at one of my other Vegas properties. There’s a water main leak underneath my driveway which will need to be dug up, repaired, and restored… I’m looking at $10K… ouch.

Portfolio Balances (Equities)

Stocks were relatively mild for the month with some late month movement back up. But, more volatility could be ahead. I don’t watch it much as we’re already diversified a fair amount.

International exposure grew a full point last month. And alternatives took a hit. But other than that, asset allocation hasn’t changed much. Total portfolio value did go down about $10k.

Final Thoughts

With the end of May, the kids are officially out of school and the summer months begin.

It’ll go quick for us since we’re on a year-round school schedule, but we’ve got 3 trips planned so far.

Our first trip is to Flagstaff, AZ where we’ve got a decked-out Airbnb. We’ll get to explore Sedona, the Grand Canyon, and hopefully Horseshoe Bend as well.

We also have a July 4th weekend trip planned for the Bay area, and a little staycation in L.A. shortly thereafter.

We’ll be using a bunch of travel reward points for the SF trip which is nice.

Hope you’re enjoying these warmer months (well for those in the Northern hemisphere).

Readers, how was your May? Do you have any upcoming Summer plans?


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Michael Quan
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