June 2022 Investing Update

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For the month of June, the DOW dropped 1893 points. The benchmark average reached a low of 29888 on June 17th. YTD the DOW has declined almost 15%. Interest and dividend income was $1,113 this month, which was offset by a loss of -$32,312 in market value. Withdrawals for living expenses came to $1,105 for June. My investments have lost a total of -$102,290 in value over the last 6 months. My only stock purchase for the month was 50 additional shares of Proterra (PTRA) on June 7th when the stock price dropped to $6 per share. The stock price is currently at $4.63 for a 23% loss in 3 weeks. Proterra is best known for their electric buses, but they also design and manufacture battery systems. Short interest is 4.15% as of June 15th. The stock is currently about 50% below the IPO price.

At this point there isn’t a lot of hope that the stock market will rebound anytime soon. Most analysists are extremely pessimistic about the economy. Crude oil is at $108.43 which is down from a June high of $122.11 per barrel. Gas prices are at $4.69 per gallon in my area. There is noticeably less traffic on the streets. I don’t hear many people shooting off fireworks. In past years, it was normal to hear pops and bangs in the days and weeks leading up to the 4th of July. Not this year. People have less money to spare. It’s not only gas prices, but the cost of everything has increased. The list keeps growing. The latest price increase is on my Verizon cell phone service. I expect it won’t be long before Comcast raises their fee for Internet service and garbage collection adds a fuel surcharge. We used to always have plenty of food on hand. Now our fridge and pantry look like someone came in and looted us. Trying to buy food on a budget has become a challenge. The list of things we are no longer spending money on is growing. Travel, restaurants, home improvements, clothes, entertainment, hobbies, subscriptions, all extras. This is not how I envisioned my retirement.

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