MedSaver's Journal
Re: MedSaver's Journal
March 2020 Update
Liabilities:
Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $5,194
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $19,936
IRA/Brokerage/403b/457/cash: $1,031,026
Net:+$1,005,895
We have lost almost $150k since last update, but have increased our stock purchases at the same time and continue to pay down our student debt. Thankfully we have jobs in what would probably be considered the most stable sector for this pandemic and we have a large emergency fund. Our major concerns are for our health and the health of our colleagues/patients. We certainly live in exciting times!
Liabilities:
Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $5,194
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $19,936
IRA/Brokerage/403b/457/cash: $1,031,026
Net:+$1,005,895
We have lost almost $150k since last update, but have increased our stock purchases at the same time and continue to pay down our student debt. Thankfully we have jobs in what would probably be considered the most stable sector for this pandemic and we have a large emergency fund. Our major concerns are for our health and the health of our colleagues/patients. We certainly live in exciting times!
Re: MedSaver's Journal
They are fascinating times, aren't they? And yes, scary and sad too. Stay safe.
Re: MedSaver's Journal
April 2020 Update
Liabilities:
Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $2,800
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $16,163
IRA/Brokerage/403b/457/cash: $1,173,803
Net:+$1,154,839
Liabilities:
Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $2,800
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $16,163
IRA/Brokerage/403b/457/cash: $1,173,803
Net:+$1,154,839
Re: MedSaver's Journal
Nice. Well done!
Re: MedSaver's Journal
May 2020 Update
Liabilities:
Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $1,400
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $12,380
IRA/Brokerage/403b/457/cash: $1,238,879
Net:+$1,225,099
The next few months will look very strange for a few reasons. We are in the process of buying a house and my old job has initiated the retirement clawback. It's gonna look like our net worth drops like $200k, but some of that will be equity in property. However, my compensation should rise in the next couple months so it may offset this somewhat.
Liabilities:
Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $1,400
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $12,380
IRA/Brokerage/403b/457/cash: $1,238,879
Net:+$1,225,099
The next few months will look very strange for a few reasons. We are in the process of buying a house and my old job has initiated the retirement clawback. It's gonna look like our net worth drops like $200k, but some of that will be equity in property. However, my compensation should rise in the next couple months so it may offset this somewhat.
Re: MedSaver's Journal
Is it a nice house? Will you live in it for a long time, hopefully?
You could add a new category to your net worth, i.e. house equity. And put in a conservative estimate of it? You'll probably still see a drop (or a not-so-large-increase) due to the fact that some costs for buying a house are truly costs and don't lead to having equity. But the drop would be less.
I hope to see a $0 for the student loans for your wife next month, I hope it won't be a tantalizing $120 left or so...
You could add a new category to your net worth, i.e. house equity. And put in a conservative estimate of it? You'll probably still see a drop (or a not-so-large-increase) due to the fact that some costs for buying a house are truly costs and don't lead to having equity. But the drop would be less.
I hope to see a $0 for the student loans for your wife next month, I hope it won't be a tantalizing $120 left or so...
Re: MedSaver's Journal
Well, we think it's a nice house. It's a little more expensive than average for our area, but we live in a pretty HCOL area. It's not a mansion or anything. Hopefully we are in it for a long time, but you never know.
I may add home equity to net worth, but am not sure what to do with the mortgage amount. What I'd like to do is do a long term experiment where I compare real estate (the house) versus our other investments and see which comes out ahead. I am almost certain non-real estate will win, but it's hard to really know after tax incentives and other differences.
I think the wife will pay off her loan soon, but she kind of does her own thing in that regard. 3 more months for mine!
I may add home equity to net worth, but am not sure what to do with the mortgage amount. What I'd like to do is do a long term experiment where I compare real estate (the house) versus our other investments and see which comes out ahead. I am almost certain non-real estate will win, but it's hard to really know after tax incentives and other differences.
I think the wife will pay off her loan soon, but she kind of does her own thing in that regard. 3 more months for mine!
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Re: MedSaver's Journal
Unless your area outperforms the majority of RE markets, it will not come out ahead. You can chop 6-10% right off the bat due to transaction costs, then the endless maintenance, upkeep, and taxes/interest.
Re: MedSaver's Journal
Congrats on now owning a nice house. May it serve you two well for a long time
Re: MedSaver's Journal
I think it can be relevant to include mortgage debt and house value in net worth. It may affect the diversification and total risk level to a large extent.
Re: MedSaver's Journal
June 2020 Update
Liabilities:
Mrs. MedSaver loans
Total student loans = $0
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $8,585
IRA/Brokerage/403b/457/cash: $1,225,559
Net:+$1,216,974
The retirement clawback from prior employer was much less than expected. We have placed a $15k deposit on the home, which is not accounted for in the numbers above. There will be occasional other deposits over the next few months and then the down payment is expected to be sometime in the winter.
Liabilities:
Mrs. MedSaver loans
Total student loans = $0
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $8,585
IRA/Brokerage/403b/457/cash: $1,225,559
Net:+$1,216,974
The retirement clawback from prior employer was much less than expected. We have placed a $15k deposit on the home, which is not accounted for in the numbers above. There will be occasional other deposits over the next few months and then the down payment is expected to be sometime in the winter.
Re: MedSaver's Journal
July 2020 Update
Liabilities:
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $4,780
Assets:
IRA/Brokerage/403b/457/cash: $1,317,725
Net:+$1,312,945
Liabilities:
MedSaver loans
Student loans blended (5 year 3.5% fixed) = $4,780
Assets:
IRA/Brokerage/403b/457/cash: $1,317,725
Net:+$1,312,945
Re: MedSaver's Journal
Well done, again. How's the house? Have you already moved in, or are there still repairs ungoing or things like that?
Re: MedSaver's Journal
It's being built, which is why I haven't included down payment/mortgage info yet.
Re: MedSaver's Journal
August 2020 Update
Liabilities:
MedSaver loans
Student loans = $0
Assets:
IRA/Brokerage/403b/457/cash: $1,392,505
Net:+$1,392,505
Liabilities:
MedSaver loans
Student loans = $0
Assets:
IRA/Brokerage/403b/457/cash: $1,392,505
Net:+$1,392,505
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- Posts: 420
- Joined: Tue Oct 15, 2019 3:13 pm
Re: MedSaver's Journal
Congratulations on paying off your loans!
Re: MedSaver's Journal
Oh hey, ho... How did I miss that for a couple of weeks? Congrats, MedSaver, on paying off your loans! How does it feel?
And how is life otherwise? Working hard?
And how is life otherwise? Working hard?
Re: MedSaver's Journal
September 2020 Update
Assets:
IRA/Brokerage/403b/457/cash: $1,402,647
Net:$1,402,647
Assets:
IRA/Brokerage/403b/457/cash: $1,402,647
Net:$1,402,647
Re: MedSaver's Journal
October 2020 Update
Assets:
IRA/Brokerage/403b/457/cash: $1,423,411
Net:$1,423,411
Assets:
IRA/Brokerage/403b/457/cash: $1,423,411
Net:$1,423,411