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I thought this was a fun exercise and I liked looking back on my last year's plan for this year to see how things match up. Link to last year's thread to see if you posted and see how well you did with your plans.
https://forum.whitecoatinvestor.com/...and-2021-plans
Net worth progression (calculated on the first of every month):
Dec 2020 - $2.4M
March 2021 - $2.96M
June 2021 - $3.31M
Sept 2021 - $4.53M
Dec 2021 - $6.12M (I'm probably closer to $5M now with the recent TSLA pullback and I'm not sure how much I'll pay in taxes as I'm always trying to find ways to defer realization to next year)
Last year I was fortunate and lucky to hit my FI goal 7 years earlier than I thought I would. My goal for this year was to make progress towards fatFIRE and through risk/leverage and more luck, I sped towards that goal pretty quickly. I continued my options selling/investing strategy and so far it's still going well. My biggest change in my portfolio from last year's allocation was to simplify things. Instead of having a variety of stocks representing sectors, I decided to simplify things by slowly allocating towards 50% TSLA/50% QQQ/TQQQ.
Even though I liked my job and could see myself living and working in a rural area for the near future, my wife reached her breaking point and couldn't stay there any longer. Reaching my FI target early in the year, it gave us options. So I told my employer our plans to leave and worked out part time coverage as a bridge for income security while we figure out what to do next. While winding down at work, the options selling income continued to do well and now it seems like I won't need to return to work after this year of part time coverage. During the GME madness I did overextend my account and did get margin called due to changing requirements which was fun (... not). However, it was a valuable lesson about managing buying power, risk, and leverage.
We moved closer to family and now she's much happier (and therefore I'm much happier). She's now working at the local hospital for our health insurance and to give her a routine of some sort. I'm still providing part time call coverage for my old job 1 week a month and I'll likely fully step away from practice after this year. Otherwise I continue to sell my options and 'day trade' so I can meet trader tax status for deductions and take multiple breaks through the day to walk our dog.
Goals for 2022. I hit my fatFI number much quicker than I thought I would and hope it continues going forward. I enjoy watching CNBC along with various people on YouTube, following Tesla news, and coming up with various options strategies so I plan on continuing to trade for fun and to see how far I can get. My trading activity allows me probable tax deductions which I'll run through my CPA. Then I'll look into forming an LLC taxed as an S Corp to see if it's worth it for me. Otherwise, hopefully we'll be able to feel more comfortable travelling soon and start visiting all our bucket list destinations!
https://forum.whitecoatinvestor.com/...and-2021-plans
Net worth progression (calculated on the first of every month):
Dec 2020 - $2.4M
March 2021 - $2.96M
June 2021 - $3.31M
Sept 2021 - $4.53M
Dec 2021 - $6.12M (I'm probably closer to $5M now with the recent TSLA pullback and I'm not sure how much I'll pay in taxes as I'm always trying to find ways to defer realization to next year)
Last year I was fortunate and lucky to hit my FI goal 7 years earlier than I thought I would. My goal for this year was to make progress towards fatFIRE and through risk/leverage and more luck, I sped towards that goal pretty quickly. I continued my options selling/investing strategy and so far it's still going well. My biggest change in my portfolio from last year's allocation was to simplify things. Instead of having a variety of stocks representing sectors, I decided to simplify things by slowly allocating towards 50% TSLA/50% QQQ/TQQQ.
Even though I liked my job and could see myself living and working in a rural area for the near future, my wife reached her breaking point and couldn't stay there any longer. Reaching my FI target early in the year, it gave us options. So I told my employer our plans to leave and worked out part time coverage as a bridge for income security while we figure out what to do next. While winding down at work, the options selling income continued to do well and now it seems like I won't need to return to work after this year of part time coverage. During the GME madness I did overextend my account and did get margin called due to changing requirements which was fun (... not). However, it was a valuable lesson about managing buying power, risk, and leverage.
We moved closer to family and now she's much happier (and therefore I'm much happier). She's now working at the local hospital for our health insurance and to give her a routine of some sort. I'm still providing part time call coverage for my old job 1 week a month and I'll likely fully step away from practice after this year. Otherwise I continue to sell my options and 'day trade' so I can meet trader tax status for deductions and take multiple breaks through the day to walk our dog.
Goals for 2022. I hit my fatFI number much quicker than I thought I would and hope it continues going forward. I enjoy watching CNBC along with various people on YouTube, following Tesla news, and coming up with various options strategies so I plan on continuing to trade for fun and to see how far I can get. My trading activity allows me probable tax deductions which I'll run through my CPA. Then I'll look into forming an LLC taxed as an S Corp to see if it's worth it for me. Otherwise, hopefully we'll be able to feel more comfortable travelling soon and start visiting all our bucket list destinations!
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