MedSaver's Journal
Re: MedSaver's Journal
Thrifty gets it. I try to never rent cars on vacation; it's expensive and stressful.
Re: MedSaver's Journal
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
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
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
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
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.
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.
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- Posts: 1950
- Joined: Tue Nov 12, 2013 10:23 pm
Re: MedSaver's Journal
You're killing those loans - nice!
Re: MedSaver's Journal
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Last edited by MedSaver on Sat Dec 03, 2016 1:44 am, edited 1 time in total.
Re: MedSaver's Journal
Wowsa, you're making good progress! Keep it up!
Re: MedSaver's Journal
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).
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).
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- Joined: Wed Jul 28, 2010 3:28 am
- Location: Wettest corner of Orygun
Re: MedSaver's Journal
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.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.
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- Posts: 392
- Joined: Wed Nov 09, 2016 12:00 am
Re: MedSaver's Journal
How do you even spend this much money? crazy
Re: MedSaver's Journal
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
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
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
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
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
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