Q2 22 Financial Scorecard: Adapting to a Harsh Environment
Just when we thought things couldn’t get any worse… the second quarter of 2022 happened.
After poor returns from the stock market during the first quarter of 2022, things got even more challenging during the second quarter of the year. From April through June, the S&P 500 fell more than 16%, marking its worst quarterly performance since the COVID-19 pandemic started in Q1 2020.
For the first half of the year, the S&P 500 was down around 21%, its worst performance since the global financial crisis in 2008.
Add in the highest inflation experienced in the United States in forty years, declining consumer confidence, and a highly politicized and ineffective response to the pandemic, and its no shock that President Biden’s approval ratings continue to plunge to historically low levels.
Unfortunately for our family, the challenging economic environment had a significant impact on our finances over the past three months… and early retirement remains an aspiration, rather than an achievment!Continue Reading