Why I’m Transparent – (March 2022 Net Worth Update)

This is the 26th update in my net worth series, in which I document my path to reaching two goals: 

  • $30,000 in annual passive income by 2025
  • $1 million in net worth by 2027

You can check out my net worth tracker to see all of my up-to-date numbers.

The Importance of Transparency

Over the weekend, I met with CJ Wilson – fellow investor YouTuber

We talked for quite awhile about a number of things, one of those being transparency on YouTube, especially as investment content creators. 

It’s something that I’ve definitely thought about, and lots of interesting things came out of that conversation. 

There is an obvious concern that people will see our content and apply it directly to their portfolio. We’re not in the business of giving financial advice, we’re talking about our personal investment strategies and discussing ideas we have.

There’s a lot of due diligence that every investor should do before making an investment. 

Even so, I believe transparency in the investment space is very valuable.

It gives context behind what I’m doing. It makes it easier to reveal the lessons behind my good and bad decisions.

And it keeps me honest to my goals by making it public.

I get plenty of feedback and ideas from my audience as well. It gets me thinking about other perspectives more than if I didn’t share anything.

Not to mention, it’s interesting to look back at some old episodes and see how my thinking has changed.

But transparency isn’t always a great thing. It can keep me on a path I shouldn’t be on due to social pressures to avoid admitting defeat.

Either way, I’m going to stay financially transparent for the foreseeable future.

So far, I’ve found it to be a great exercise.

With that said, let’s get into the numbers.

March 2022 Net Worth Numbers

As a reminder, my net worth last month was at $116,306.75.

Assets – March 2022

Assets March 2022

Pretty much all of my focus has been putting money into my M1 Finance and other stock accounts.

I’ve been funneling money towards what I think are decent stock deals.

I can always re-leverage that portfolio to raise funds for a real estate purchase.

That’s what I did with the residence I currently live in. I used margin from my stock account to fund the down payment for this property. 

That way, I can remain fully invested while still remaining liquid.

I now have well over $100,000 invested in the stock market. Given the relative instability in the economy right now, there’s always a chance this can drop significantly in the short term.

I’m OK with that. Granted, it’s not exactly the goal.

As for my tax-advantaged accounts, I’m anticipating adding a good amount to these as we approach tax day in April. Even though that would put some restrictions on how I use the money, it would potentially save a large chunk in taxes today.

This leaves our assets at $745,603.10

Liabilities – March 2022 

Liabilities March 2022

I added an estimated income tax bill. It may end up being higher than this, but I wanted to set up an modest approximation now.

It’s probably going to be a few grand at least. 

As with the last few months, I put more money towards the HELOC. I’m treating it almost like a checking or savings account, as I know I can always pull more money out as needed. 

The current interest rate is still at 2.25%, but that is subject to increases.

Our liabilities this month are $620,108.94

My Net Worth – March 2022

In total, that leaves us with $125,494.16 in net worth.

That’s an increase of $9,187.41 from the last month.

Our debt ratio is at 83.17%.

And our passive income remains at about $1,100 per month.

What’s Next?

Overall, we’re still in a good position, especially considering the recent volatility in the stock market. However, there’s no way to know where the next few months will take our holdings. 

In general, we’re focusing on the big ticket items: bringing in more money and looking for new income streams.

We’re using a good portion of the money we bring in to pay down debt. That’ll should become a much bigger focus over the next couple years.

In other news, my wife and I are considering buying a house in Houston, potentially as a second home. We’re not sure if we’ll be in Illinois in the long run, so we want to have options.

And Houston is a market I’d like to get more familiar with anyways.

With a second home, we could get some decent financing options and still have the ability to rent it out at least some of the time.

We’d also have potential options should it make sense to move down there.

We’ll see.

In any case, I’ll be sure to keep you updated.

This website, and any communication stemming from it, while hopefully informative, should not be taken as financial or legal advice. Assume all links are affiliate links. I am an Amazon affiliate.

Jack Duffley

Jack Duffley is a real estate investor and attorney based in Houston, TX.

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