The S&P 500, NASDAQ 100 and Dow 30 all finished the month May in the red. While the stock market was down in May, my accounts posted gains. Unfortunately, spending was up again in May for the second straight month. Let’s check out the details for the month of May 2022.
Spending/Savings
This month spending increased a little more than usual mainly due to taking a vacation at the beginning of the month. This makes back to back months of increased spending. As a result, the emergency fund dropped again this month and will need to be built back up. The increased spending also caused my savings rate for the year drop to 18.86%. This puts me well behind my goal of have a 25% savings rate for the year.
Dividends
Dividends received this month totaled $325.19. Compared to May 2021, dividends increased by $4.94 which is up 1.54% year over year. For the year, I have received $1,565.45 in dividends. As a result, I am now 39.1% toward my goal of $4,000 in dividends this year.
Options Premium
The total amount of options premium received this month was $318.49. While this is the lowest amount of options premium received this year, it is well above the $227.62 I received in May 2021. So far this year I have received $2,914.96 in options premium. As a result, this puts me 48.58% towards my goal of $6,000 in options premium this year.
Interest
Due to the increased spending this month, interest income was down this month. For the month, I received $5.29 in interest. For the year, I have received a total of $38.05 in interest.
Income from Investments
The total amount of dividends, options premium and interest totaled $648.97 this month. When compared to the $557.16 I received in May 2021, my income increased by $91.81. For the year, the combined income is up to $4,518.46. This works out to be about $903.69 per month.
Debt
The total amount debt went down by just $483.05 this month. This puts me at about 18.5% of the way to reaching my goal of having less than $100,000 of debt by the end of the year. While I am way behind pace for reaching my goal, I do have a plan to pay down more debt in the second half of the year.
Traditional IRA
The Traditional IRA finished the month at about $119,359. As a result, this account gained $2,400 from last month. Year over year, this account is up $4,058 from May 2021. The projected annual dividend income (PADI) jumped up this month to $3,946.35. This results in an increase of $267.03 over last month. The PADI increase this month may be a little deceiving. This includes $225 in annual dividends from Camping World Holdings (CWH) which I am trading options on using the wheel strategy. The 100 shares of CWH could be called away without me receiving the dividends.
Roth IRA
The Roth IRA finished the month at about $3,306. As a result, this account gained $394 from last month. Year over year, this account is up $2,762 from May 2021. The PADI moved up this month to $174.28. Over last month, the PADI increased by $18.80.
401k
The 401k finished the month at about $12,223. As a result, this account gained $632 over the previous month. Year over year, this account gained $4,906 from May 2021.
Taxable Brokerage Account
The taxable brokerage account finished the month at about $336. As a result, this account gained $14 over the previous month. When the monthly contribution is factored in, this account was down for the month. Year over year, this account gained $99 from May 2021. The PADI for this account is $1.62.
Cryptocurrency
The little bit of bitcoin I own finished the month just under $18. As result, this account decreased by -$4 from the previous month.
Total Investments
The total amount invested grew to $135,242. Therefore, the total amount invested increased by $3,436 over last month. Year over year, the amount invested increased by $11,843 from May 2021. If you would like to see what I invest in, click on “Portfolios” in the menu above to see all of my holdings.
The combined PADI from my accounts increased to $4,122.25 which is up $287.45 from last month. While this puts me on pace to exceed my goal of $4,000 in dividends this year, it may not last due to some of options trades currently in place.
Net Worth
My net worth rebounded this month to finish the month at $77,827. As a result, my net worth increased by $4,010 over last month. Year over year, my net worth increased by $34,459 from May 2021.
Conclusion
While expenses were up again this month it was nice to see the account values and PADI increase. Staying invested and sticking to my plan seems to working regardless of the market conditions. I am going to keep doing what I have been doing and keep striving to reach my goals. That’s it for this month. Thanks for following along!
*Disclaimer – I am not a financial professional. The information shared here should not be considered financial advice. I am just a factory worker sharing my experience as I strive to achieve financial freedom. Before investing or making any financial decision do your own research and due diligence or consider seeking the advice of a financial and/or tax professional.
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Free Bitcoin!
Lolli offers a variety of stores that it is affiliated with and offers rewards for shopping at these stores. I use Lolli when I shop on Chewy and I get bitcoin as a reward. Who doesn’t want free bitcoin! If you are interested in Lolli and want to help support the blog here is my referral link: https://www.lolli.com/share/XP7gxDgqC4
Investing Made Easy
I use M1 Finance for my taxable growth account. M1 Finance offers promotions for signing up. At the time of writing this post, the promotion is for $10 but will vary from time to time and could be up to $50. If you are interested in M1 Finance and want to support the blog here is my referral link: https://m1.finance/ktIiFeOI5zDr
Up to 5% Savings Rate!
I use Varo Bank for part of my emergency fund. From time to time the bank will run promotions. Currently, you can earn up to 5% on your savings with Varo, if you meet certain requirements. If you are interested in checking it out, here is my referral link: https://bank.varomoney.com/signup?r=William360
If you use the referral links listed above I could receive compensation. Please take the time to read the terms and conditions before signing up.