Let me start with an apology. I want to apologize to my readers for this blog’s false start in 2021 on the journey to building wealth. While there is no good excuse, here’s what happened:

• I quit my job after being told the company would not honor the title and compensation increase for an internal job I landed that was two levels higher than my then current position.

• I accepted a new job that increased my seniority, my base salary by 50%, and my overall compensation package by 63%. In this new job I am also one of only two Black male senior leaders globally out of an employee base of over 1,000.

• A second close family member passed away, within twelve months of my grandfather.

• My spouse and I moved half-way across the country.

• We got a dog.

According to Thrive Global, I experienced four of their “10 Most Stressful Life Events” all before the Fourth of July! The rest of 2021 then became more about surviving transition. Specifically, I struggled to navigate what Adam Grant calls “languishing,” a feeling of emptiness and stagnation – a general lack of joy – that zapped my motivation.

There were many challenges in 2021. You might ask – what did I learn from them? Were there any bright spots?

I learned one big lesson and have one even bigger bright spot from the year.

Building wealth requires knowing your worth, and being brave enough to embrace it

It is hard to quit a job, even one you might hate. It is all the harder, then, to leave a job you love. And that’s what I did. I quit to pursue the career and income growth for which I was qualified and earned.

I wish we talked more about the emotional challenges of quitting a job. For better or worse, jobs can be closely tied to our identity and our sense of self-efficacy. In fact, Pew Research Centers estimates that 51% of Americans “get a sense of identity from their job.” It is no surprise, then, that leaving a job – even for a better one – can generate loads of anxiety and self-doubt.

I’m not alone. Almost three percent of the American workforce quit their jobs in October 2021 alone, and 41% of workers considered leaving their jobs in 2021, with no signs of slowing down. The Great Resignation continues and could be a powerful moment to reflect on your worth and ensuring you’re taking the steps to embrace it.

Compounding is powerful for building wealth

There is no way around it – I took my eye off my financial ball in 2021. Our budget went out the window to accommodate moving, unexpected family expenses, and frankly a period of low financial discipline. However, our wealth grew, a lot.

The chart below is from our Personal Capital account. You’ll see that despite contributing less than half of our pre-tax and after-tax forecasts for the year, our wealth grew almost $350,000 to end the year just above $1.3 million.

I attribute most of this growth to massive gains the stock market delivered in 2021. The S&P500 gained 26.9% this year. Our wealth took care of itself in 2021, even delivering five figures in dividends. This happened thanks to our well-diversified, passive investment portfolio.

Where do we go from here?

With your support, I’d like to start anew. Let’s pick this journey back up where we left off.

What can you do to start your wealth journey anew in 2022?