Page 2 of 6

Re: MedSaver's Journal

Posted: Sat Jan 16, 2016 3:19 am
by MedSaver
Thrifty gets it. I try to never rent cars on vacation; it's expensive and stressful.

Re: MedSaver's Journal

Posted: Mon Feb 01, 2016 11:08 pm
by MedSaver
Monthly update:

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $6000
Total student loans (5 year fixed 3.5%) = $69,000

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $205,000

Assets:
IRA/Brokerage/403b/457/cash: $276,171
Travel fund: $4200

Re: MedSaver's Journal

Posted: Tue Mar 01, 2016 12:52 am
by MedSaver
Monthly update:

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $3110
Total student loans (5 year fixed 3.5%) = $63,532

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $203,789

Assets:
IRA/Brokerage/403b/457/cash: $275,948
Travel fund: $4600

Re: MedSaver's Journal

Posted: Tue Apr 05, 2016 10:16 pm
by MedSaver
March Update:

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $2767
Total student loans (5 year fixed 3.5%) = $62,323

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $200,502

Assets:
IRA/Brokerage/403b/457/cash: $296,276
Travel fund: $5000

Net:

+$35,684.

Re: MedSaver's Journal

Posted: Wed Apr 06, 2016 7:46 am
by Gilberto de Piento
You're killing those loans - nice!

Re: MedSaver's Journal

Posted: Thu May 05, 2016 9:46 pm
by MedSaver
April Update:

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $2421
Total student loans (5 year fixed 3.5%) = $60,210

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $197,158

Assets:
IRA/Brokerage/403b/457/cash: $297,435
Travel fund: $4000

Net:

+$40,067

Re: MedSaver's Journal

Posted: Thu Jun 02, 2016 12:01 am
by MedSaver
May Update:

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $2075
Total student loans (5 year fixed 3.5%) = $60,186

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $193,629

Assets:
IRA/Brokerage/403b/457/cash: $307,585
Travel fund: $1000

Net:

+$54,400

Re: MedSaver's Journal

Posted: Thu Jun 30, 2016 11:40 pm
by MedSaver
June Update:

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $1,729
Total student loans (5 year fixed 3.5%) = $60,781

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $189,933

Assets:
IRA/Brokerage/403b/457/cash: $352,173
Travel fund: $1000

Net:+$101,459

Re: MedSaver's Journal

Posted: Wed Aug 03, 2016 12:01 am
by MedSaver
July Update

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $1,382
Total student loans (5 year fixed 3.5%) = $57,929

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $186,881

Assets:
IRA/Brokerage/403b/457/cash: $366,577
Travel fund: $1000

Net:+$120,385

Re: MedSaver's Journal

Posted: Fri Sep 02, 2016 12:15 am
by MedSaver
August Update

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $1,034
Total student loans (5 year fixed 3.5%) = $56,728

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $183,418

Assets:
IRA/Brokerage/403b/457/cash: $374,733
Travel fund: $2000

Net:+$133,564

Re: MedSaver's Journal

Posted: Sun Oct 02, 2016 11:47 pm
by MedSaver
September Update

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $698
Total student loans (5 year fixed 3.5%) = $55,662

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $180,028

Assets:
IRA/Brokerage/403b/457/cash: $388,469
Travel fund: $2000

Net:+$152,081

Re: MedSaver's Journal

Posted: Mon Oct 31, 2016 9:25 pm
by MedSaver
October Update

Liabilities:

Credit cards = $0

Fiancee loans
Car loan at fixed 1.9% = $0 - Yey! Paid off the car.
Total student loans (5 year fixed 3.5%) = $54,457

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $176,626

Assets:
IRA/Brokerage/403b/457/cash: $396,350
Travel fund: $4000

Net:+$165,267

Re: MedSaver's Journal

Posted: Wed Nov 30, 2016 11:38 pm
by MedSaver
November Update

Liabilities:

Credit cards = $0

Fiancee loans
Total student loans (5 year fixed 3.5%) = $53,380

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $173,232

Assets:
IRA/Brokerage/403b/457/cash: $409,906
Travel fund: $1000

Net:+$183,294

Re: MedSaver's Journal

Posted: Thu Dec 01, 2016 10:22 am
by Barlotti
Wowsa, you're making good progress! Keep it up!

Re: MedSaver's Journal

Posted: Wed Jan 04, 2017 12:10 am
by MedSaver
Annual Update

Well, it has almost been one full year since we started tracking all of these numbers in earnest. How have we done?

MedSaver gross income 2016: $302,997 (2015: $176,000), up 72%.
Net income 2016: $188,695 (2015: $101,456), up 86%.
Monthly net: $15,725

MedSaver Fiancee gross income 2016: $157,529 (2015: $151,148), up 4%.
Net income 2016: $106,729 (2015: $96,326), up 11%.
Monthly net: $8,294

Spending breakdown (monthly):
Food: $550
Rent: $1750
MedSaver disability insurance: $500
Fiancee disability insurance: $80
MedSaver student loan: $4030
Fiancee student loan: $1300
Utilities: $270
Gas: $225
Internet/cable: $145
Cleaning service: $80
Cell phone: $65
Travel: $1700

Total 2016: $10,695 (2015: $10,560), up 1.3%.

There is also definitely some “leakage” each month for unaccounted expenses like gifts, emergencies, medical expenses, shopping, credit card fees, etc. I also paid off one of my smaller private student loans that had a variable rate, which was rising. So the numbers above are our bare minimum spend.

Liabilities:

Credit cards = $0

Fiancee loans
Total student loans (5 year fixed 3.5%) = $52,176 (Jan 2016 $70,000)

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $168,200 (Jan 2016 $209,000)

Assets:
IRA/Brokerage/403b/457/cash: $427,817 (Jan 2016: $256,796)
Travel fund: $1500

Net: $207,441 (Jan 2015: -$28,204), which is +$19,637/month

At this rate of growth and savings, we will reach the lower margin of our financial independence goal in about 9 years. Obviously the stock market growth rate this past year is probably unsustainable, but once our loans are paid off we can offset lower returns (or even losses) with higher savings. We have started saving slightly more cash for a house downpayment, but are not currently in any hurry to buy a house (timeline 1-2 years).

Re: MedSaver's Journal

Posted: Wed Jan 04, 2017 12:20 pm
by George the original one
MedSaver wrote:There is also definitely some “leakage” each month for unaccounted expenses like gifts, emergencies, medical expenses, shopping, credit card fees, etc. I also paid off one of my smaller private student loans that had a variable rate, which was rising. So the numbers above are our bare minimum spend.
Capture the leakage and put it in your budget. It's not a case of you have to spend it, rather one of anticipating what could happen.

Re: MedSaver's Journal

Posted: Wed Jan 04, 2017 4:35 pm
by James_0011
How do you even spend this much money? crazy

Re: MedSaver's Journal

Posted: Tue Jan 31, 2017 9:49 pm
by MedSaver
January Update

Liabilities:

Credit cards = $0

Fiancee loans
Total student loans (5 year fixed 3.5%) = $51,032

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $164,789

Assets:
IRA/Brokerage/403b/457/cash: $438,413
Travel fund: $3000

Net:+$222,592

Re: MedSaver's Journal

Posted: Wed Mar 01, 2017 8:20 pm
by MedSaver
February 2017 Update

Liabilities:

Credit cards = $0

Fiancee loans
Total student loans (5 year fixed 3.5%) = $49,933

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $161,321

Assets:
IRA/Brokerage/403b/457/cash: $462,343
Travel fund: $3000

Net:+$251,089

Re: MedSaver's Journal

Posted: Sat Mar 04, 2017 3:16 am
by DutchGirl
Given that your net worth was -$20k in January 2016, I'd say the two of you are doing great. Difference of $240k or so in one year, on $295k of net income, meaning you saved 82% of your net income. (And yes, I am counting debt payments as savings).

If income would stay the same, that would mean you'd reach your financial independence ($3M in net worth) in roughly eight years or so.

By the way, you're apparently living on roughly $50k/year now. Would it be so bad to continue to live on $50k/year in retirement? If so, you'd seriously reduce the amount of time you'd need to get to that status. You'd only need $1.6 million to take out $50k/year at a withdrawal rate of 3%, and continuing like you're doing now, that would only take 4.5 years from now.

...perhaps that's something to consider 4.5 years from now :-)