MedSaver's Journal

Where are you and where are you going?
MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

May 2019 Update

Liabilities:

Credit cards = $0

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $19,224

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $57,063

Assets:
IRA/Brokerage/403b/457/cash: $918,079

Net:+$841,792

DutchGirl
Posts: 1217
Joined: Tue Sep 06, 2011 1:49 pm
Location: The Netherlands

Re: MedSaver's Journal

Post by DutchGirl »

Booooh for the stock market's behavior in May, but yeah, what can you do? You'll get there eventually...

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

June 2019 Update

Liabilities:

Credit cards = $0

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $18,010

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $53,380

Assets:
IRA/Brokerage/403b/457/cash: $1,022,036

Net:+$950,646

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

July 2019 Update

Liabilities:

Credit cards = $0

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $16,798

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $49,720

Assets:
IRA/Brokerage/403b/457/cash: $1,061,590

Net:+$995,072

DutchGirl
Posts: 1217
Joined: Tue Sep 06, 2011 1:49 pm
Location: The Netherlands

Re: MedSaver's Journal

Post by DutchGirl »

Ooooh, so close to $1 million net worth... Maybe next month! (Depending on the stock market's mood, mostly).

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

August 2019 Update

Liabilities:

Credit cards = $0

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $15,582

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $46,036

Assets:
IRA/Brokerage/403b/457/cash: $1,049,782

Net:+$988,164

DutchGirl
Posts: 1217
Joined: Tue Sep 06, 2011 1:49 pm
Location: The Netherlands

Re: MedSaver's Journal

Post by DutchGirl »

Well done on paying down the student loans!

Too bad the market didn't cooperate...

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

September 2019 Update

Liabilities:

Credit cards = $0

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $13,337

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $42,352

Assets:
IRA/Brokerage/403b/457/cash: $1,062,083

Net:+$1,006,394
Last edited by MedSaver on Thu Oct 03, 2019 12:47 am, edited 1 time in total.

ChickenCoop
Posts: 25
Joined: Thu Jun 21, 2018 3:45 pm
Location: Australia

Re: MedSaver's Journal

Post by ChickenCoop »

Congrats on the Mil Milestone!

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

Thanks!

DutchGirl
Posts: 1217
Joined: Tue Sep 06, 2011 1:49 pm
Location: The Netherlands

Re: MedSaver's Journal

Post by DutchGirl »

Hurray, you (and the markets) did it!

And I like to see those student loans go down; even though the interest rate isn't really high, so it's not a huge burden on your budget anyway. But I like to see it.

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

October 2019 Update

Liabilities:

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $13,142

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $38,638

IRA/Brokerage/403b/457/cash: $1,105,468

Net:+$1,053,688

Took out the credit card from liabilities since it's always paid off.

Adamski
Posts: 21
Joined: Wed May 29, 2019 8:35 am

Re: MedSaver's Journal

Post by Adamski »

Congrats on breakin the $1m. A number of UK Fire bloggers have £1m as their FI target ($1.3m), which you are not far from. The work I guess would be voluntary for you, and you could reassess your life options.

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

Adamski wrote:
Fri Nov 01, 2019 5:24 am
Congrats on breakin the $1m. A number of UK Fire bloggers have £1m as their FI target ($1.3m), which you are not far from. The work I guess would be voluntary for you, and you could reassess your life options.
Thanks! Unfortunately here in the US, the government doesn't provide healthcare so our FI numbers are significantly higher. I don't think most people our age would consider retiring with our current net worth.

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

November 2019 Update

Liabilities:

Mrs. MedSaver loans
Total student loans (5 year fixed ~1.9%) = $11,913

MedSaver loans
Student loans blended (5 year 3.5% fixed) = $34,907

IRA/Brokerage/403b/457/cash: $1,162,382

Net:+$1,115,562

MedSaver
Posts: 75
Joined: Tue Nov 24, 2015 1:04 am

Re: MedSaver's Journal

Post by MedSaver »

Annual Update

Another year down. How did we do?

MedSaver gross W2 income 2019: $395,000 (2018: $324,536), up 22%.
Net income 2019: $234,946 (2018: $196,502), up 20%.
Monthly net: $19,578

Mrs. MedSaver gross W2 income 2019: estimate $159,000 (2018: $159,466), unchanged.
Net income 2019: $90,000 (estimate)
Monthly net: $7,500

We both ended up changing jobs with obvious upside in my salary. One downside is there will be a clawback of my last retirement account of about $100k at some point soon. But jobs and location are better. My compensation should increase again next year by maybe 10% or so. Other substantial income includes stock dividends of $17,305.

Spending breakdown (monthly):
Food: $1250 (up from $1000)
Rent: $2200 (up from $1850)
Insurance: $900 (up from $840)
MedSaver student loan: $3830 (previously $4540)
Fiancee student loan: $1000 (previously $1300)
Utilities: $180 (no change)
Gas: $390 (previously $180) - this is due to longer commutes
Internet: $55 (dropped cable, it was getting insane)
Cleaning service: $90 (previously $80)
Cell phone: $130 (previously $65 - added a line and device)
Travel: $2500 (previously $3300)
Other: $8019 (previously $4400)

Total monthly 2019: $19,890 (previously $18,148)

The "Other" category increased mainly because we bought a car with cash (monthly equivalent of $2,570). Less the car, we spent about $1000 more per month (this includes moving expense, last year's tax bill, gifts, cash withdrawals, entertainment, family support, professional expenses, car maintenance, financial planner fees, investment fees, healthcare expenses, clothing, home maintenance, charitable giving, etc.)

Liabilities:

Credit cards = $0

Mrs. MedSaver loans
Total student loans (5 year fixed 3.5%) = $10,686 (Jan 2019 $25,220)

MedSaver loans
Student loans blended (5 year ~3.5% fixed) = $31,292 (Jan 2019 $75,233)

Assets:
IRA/Brokerage/403b/457/cash: $1,202,144 (Jan 2019 $789,148) - this will be closer to $1.1M after the clawback.

Net (Assets - liabilities): $1,160,166 (Jan 2019 $688,695), which is + $39,289/month (previously $15,003/month). What a difference a year makes as regards the stock market.

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