- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Oh man, exciting stuff!
Current Liabilities -
- Approximately $380,000 of student loans all at usurious rates, but ALL eligible for forgiveness through public service and qualifying payments in 3 to 5 years. I've done the math on whether to refinance or to keep making payments in pursuit of forgiveness and it turns out forgiveness puts us way, way ahead in the long run (even if you consider the repayment taxable income which the DoE currently states it is not).
- Approximately 16 months into a ($250,000 remaining) mortgage @ 3.2% on a 5/1 ARM. Decision will need to be made to try to repay in full or refinance.
- Approximately $55,000 remaining in car loan at 2%.
- Approximately $30,000 remaining on car 2 loan at 1%.
- Tuition owed for the remainder of my MBA to the tune of about $20,000
Current Assets -
- Home assessed at $280
- Cars worth $45 and $25 a piece
- Retirement savings worth $240 (it was a very good year)
- LOLBUTTCOIN
- Emergency fund and advanced budgeted spending on-hand
Net worth -
- Somewhere to the tune of (50,000-80,000). This has improved somewhat from last year's figure.
By end of Q1:
- Pay remainder MBA tuition in full.
- Begin a taxable investment account.
- Document approval and payment status for student loan forgiveness.
By end of Q2:
- Breach zero net worth.
- Acquire MBA
By end of Q3:
- Pursue baby 2.
By end of Q4:
- Our 403 (b)s fully funded.
- Under 80% value remaining on the mortgage so we can refinance if we have to.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit.
or
- Leave and found a startup.
Things we will not try to do:
- Acquire any new debt.
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline.
Stretch Personal Goals
- One muscle up
- Thirty (30) new books read
- Rower used 100 times
- Cook 48 meals
- Clean basement to where I would be comfortable hosting a World Cup viewing party
- Write a book to self-publish
EAT FASTER!!!!!! fucked around with this message at 14:36 on Dec 22, 2017
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Dec 1, 2017 03:18
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May 19, 2024 21:06
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Is it okay to post that I'm not sure what my goals are? I currently max my 401k, can't contribute to a Roth IRA due to income limitations (maybe I should get married?) and plan on continuing to save some amount of cash for a down payment or a new car if I move out of the city at some point. Emergency fund is more than topped off, so my "down payment account" is on top of 8 months of expenses. For a while, I was planning on opening a 529, as I would like to pursue a PhD eventually, but started having second thoughts. I exceed the Roth income limit now, too, so I'm just sort of left with the uncertainty of what to do.
I suppose my 2018 financial goal is to continue being relatively financially "responsible" and to become aware of how to best invest my $3000-ish surplus of cash each month now that I'm beyond safety net.
You should spend some time and think about your goals.
Make sure they're specific, measurable, achievable, relevant and time-bound.
Specific means to be as micro as possible about exactly what you want to do:
i.e. "I have a goal to acquire for cash a used 2014 or 2015 Japanese luxury midsize sedan in good or better condition for which I'll spend less than $25,000 including tax, title and license."
Measurable means a lot of the things, but the parts of the above goal that are measureable include the amount for which you'll spend, the specifics of the car you'll acquire etc. etc.
goals like "I'd like to eat better" are dumb, because they're not measurable, but the spirit of the goal can be adopted by saying "I will eat a plain garden salad for lunch 200 days this year with light or no dressing."
Achievable means make sure it's something you can actually do:
i.e. "I would l like to climb Everest this year" is not something any of us in this forum will be accomplishing.
Relevant usually means something that will actually be an accomplishment to your personal development:
i.e. "I would like to drink a beer from every country in the United Nations" would not be highly relevant, unless that was on my bucket list or something. IDK, this one is really more for helping OTHER people (employees) set goals for their performance for you at work.
Time-bound asks that you set yourself up to do things in a given period, such that you have a "pace" to keep ensuring you will be able to accomplish the task.
i.e. "I will eat a plain garden salad for lunch 200 days this year" is a time-bound goal, because it is quite easy to see whether you're on track to succeed, or whether the task must be revised. (i.e. you've eaten 50 salads by July 1st you're on pace to eat 100 salads not 200, can you eat 150 instead?)
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Dec 29, 2017 22:43
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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--New job (supposed to hear back about a phone screen this week or next, pray for me!) or at least a big raise at my current job (lol). Pretty much everything else I want to do this year finance-wise hinges on a bigger paycheck, or knowing where I'll be working long-term.
--Pay off my student loans (~$3500) and the rest of the money owed on my wedding (~$1500 interest-free) come hell or high water. It'd be nice to also pay off the ~$1500 in credit card debt that I accumulated for holiday and emergency expenses in the last couple of months, but the hours on my second job (which has funded much of my progress in paying these off over the last couple of years) are going to be cut due to changes in my primary job so who knows how quickly that will go!
--Sell off (most of) my current gaming stuff. It's time. A lot of it has been sitting in boxes since I graduated college, and I need the money. Plus my brother is talking about how we should both get new jobs and build gaming PCs this year  But I really want a Switch...
--Non-money goal: Run more than one road race in the year. Did a 10-miler in May and really liked it but didn't train for much else in 2017. I should do a 10k, I've been running for 15 years and still haven't done one.
--Stretch goal: My wife wants to buy our own place in May (or at least have our target down payment of $30k saved up) but I think that's a bit ambitious unless she wants to put more of her paycheck into our down payment savings. Gotta determine if it's better to let me dump our tax return into finally paying my debts off so I can contribute to our monthly down payment savings instead of all of my extra money going into bills (she is mostly debt-free outside of travel purchases, many of which are comp'd by her employer). She is really into the idea of owning ASAP though, so it's gonna be a tough sell!
--Double-stretch goal: Knock up my wife? We both kind of goes back and forth on the idea but she's been home visiting her family for a few weeks and sounds like she's leaning towards "Yes" pretty hard right now. And I want to too, despite our impending hellworld. But in my mind it goes new job (debt payoff) -> house -> baby for me, so if she's that set on having kids in the next year then she at least needs to contribute to finishing up my debts, because babies are expensive enough without me losing an entire paycheck or more each month to car/loan/credit payments.
This is like literally the definition of consumption creep. You should pay off your credit card debt and wedding before you buy a house.
You don't have money for a new PC OR a Switch, you've got several thousand dollars of debt!
You should also get on the same page about financial and personal priorities with your partner before you go nuts about all of this.
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Jan 4, 2018 16:19
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Oh man, exciting stuff!
By end of Q1:
- Pay remainder MBA tuition in full. PAID IN FULL AS OF THIS FUCKIN SECOND.
- Begin a taxable investment account. Account opened! It's a taxable account, what investments make the most sense here?
- Document approval and payment status for student loan forgiveness. My paperwork got hosed up, so I have to do this over, but it's all printed sitting on my desk, just needs mailed!
By end of Q2:
- Breach zero net worth.
- Acquire MBA
By end of Q3:
- Pursue baby 2.
By end of Q4:
- Our 403 (b)s fully funded.
- Under 80% value remaining on the mortgage so we can refinance if we have to.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. Administrative time earned, pay increase requested, timeline for another medical directorship uncertain.
or
- Leave and found a startup. Probably not!
Things we will not try to do:
- Acquire any new debt. So far, so good. No debt is good debt.
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline. No movement on this, shocker.
Stretch Personal Goals
- One muscle up I am proceeding apace on the timing for this goal!
- Thirty (30) new books read I am way ahead on this goal!
- Rower used 100 times I am on pace for this goal!
- Cook 48 meals I am on pace for this goal!
- Clean basement to where I would be comfortable hosting a World Cup viewing party slightly behind schedule but I have begun cleanup in earnest. I think I'm going to buy an obnoxious foosball table and big television for this one.
- Write a book to self-publish Two chapters written, behind schedule, but it might have to wait til I've earned my diploma.
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Feb 1, 2018 19:28
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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By end of Q1:
- Pay remainder MBA tuition in full. Tuition paid in full middle of February. I was the first to pay for it, but it feels good to have it off my list.
- Begin a taxable investment account. Begun and funded to the amount I was hoping.
- Document approval and payment status for student loan forgiveness. Paperwork came through, it's all been submitted.
Now the bad, I had a car smash up earlier in February and will probably owe about $1,000 to cover the insurance deductible. I might have to get an attorney or have some more ticket related expenses.
We also severely under-withheld for our 2017 taxes (for which we've adjusted moving forward) but we owe the tax man quite a bit of money. We won't be able to FULLY replete our EF until May 1.
By end of Q2:
- Breach zero net worth. Dicey, given the throes of the market!
- Acquire MBA. The end is near!
By end of Q3:
- Pursue baby 2. We've started talking about this one a lot more, and I think this is the right timeline.
By end of Q4:
- Our 403 (b)s fully funded. This happens automatically.
- Under 80% value remaining on the mortgage so we can refinance if we have to.
Yearly Stretch Professional Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. No sign of this upcoming.
or
- Leave and found a startup. On hiatus for now.
Things we will not try to do:
- Acquire any new debt.
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline.
Stretch Personal Goals
- One muscle up. This project continues on pace.
- Thirty (30) new books read. 12 new books read at this point, I'm going to crush this goal.
- Rower used 100 times I've only been on it 10 times at this point, so I'm a bit behind for my schedule. I plan to increase my frequency this month to finish out the quarter strong.
- Cook 48 meals. I need to do one meal a week for the next 4 weeks to stay on pace.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. The basement is both better - and worse - than it was a month ago. I have abandoned some of the spending I planned to do for this party, but I still want it cleaned up and organized by that date. I'm probably going to be hosting my World Cup party upstairs, instead.
- Write a book to self-publish. I got a couple chapters into this and realized I need to finish my MBA before I can give this the time it deserves. On hiatus for now.
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Mar 4, 2018 18:35
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Quarter 1 is in the books:
- Pay remainder MBA tuition in full. Education money applied, and then remainder tuition paid in full. Degree to be collected May 11.
- Begin a taxable investment account. Begun and funded.
- Document approval and payment status for student loan forgiveness. PSLF approved, a little more than 60 payments remain.
EF to be replaced by Q2.
By end of Q2:
- Breach zero net worth. Sometime in Q2
- Acquire MBA. May 11!
By end of Q3:
- Pursue baby 2. We've started talking about this one a lot more, and I think this is the right timeline.
By end of Q4:
- Our 403 (b)s fully funded. This happens automatically.
- Under 80% value remaining on the mortgage so we can refinance if we have to.
Yearly Stretch Professional Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. No sign of this upcoming.
or
- Leave and found a startup. On hiatus for now.
Things we will not try to do:
- Acquire any new debt.
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline.
Stretch Personal Goals
- One muscle up. This project continues on pace. I can do 7 strict ring dips and 7 strict ring pull-ups and am working on negatives.
- Thirty (30) new books read. 15 new books read at this point, I'm going to crush this goal. I'm officially bumping it to 45 books this year.
- Rower used 100 times I've only been on it 15 times at this point, so I'm a bit behind for my schedule. Probably going to drop this to 50 times on the year, as I'm on track to go to CrossFit like 200 times instead.
- Cook 48 meals. I cooked like 15 or 16 meals in Q1.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. Got a cheap, high quality foosball table from a buddy, and the "my office" portion of our basement is complete. Working on the rest.
- Write a book to self-publish. I got a couple chapters into this and realized I need to finish my MBA before I can give this the time it deserves. On hiatus for now.
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Apr 5, 2018 16:51
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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End of April update!
By end of Q1:
- Pay remainder MBA tuition in full. Tuition paid in full middle of February. I was the first to pay for it, but it feels good to have it off my list.
- Begin a taxable investment account. Begun and funded to the amount I was hoping.
- Document approval and payment status for student loan forgiveness. Both my wife and I have been approved for PSLF with 6 years of qualifying payments made, less than 52 payments until my loans are forgiven!
By end of Q2:
- Breach zero net worth. Contributions are on track, it's up to the market now! We'll see where we shake out!
- Acquire MBA. All the work is done, I'm graduating with distinction!!!
Our emergency fund is fully repleted following our tax hit, my car trouble is behind me and it ended up costing no more than the deductible on my repair.
By end of Q3:
- Pursue baby 2. We've started talking about this one a lot more, and I think this is the right timeline.
By end of Q4:
- Our 403 (b)s fully funded. This happens automatically.
- Under 80% value remaining on the mortgage so we can refinance if we have to.
Yearly Stretch Professional Goals:
- Acquire second medical directorship in process, commensurate pay increase pending and administrative time benefit done.
- Leave and found a startup. On hiatus for now.
Things we will not try to do:
- Acquire any new debt. So far, so good!
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline.
Stretch Personal Goals
- One muscle up. This project continues on pace.
- Thirty (30) new books read. 21 new books read already this year, I'm going to obliterate this goal.
- Rower used 100 times I have been going to my gym more than working out at home, and while I'm overall happy with the level of fitness I'm accomplishing, I would still like to do this more.
- Cook 48 meals. I have kept pace on this goal through April.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. This project has stalled in a big way. I am treating this goal as top priority at this time.
- Write a book to self-publish. I got a couple chapters into this and realized I need to finish my MBA before I can give this the time it deserves. On hiatus for now.
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May 2, 2018 16:23
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Congrats on getting that credit card paid off! Not sure what your kind of personality is (cold turkey vs. weaning) but when I wanted to lose weight, I stopped drinking anything that wasn't water or coffee and cut out my top two calorie dense snacks (Oreos and microwave popcorn) completely. It was way easier to do when the super bad for me stuff wasn't even in the house, and it was a hard and fast rule so I never had to think about it. When I hit my goal weight, I eased up a bit and let myself indulge every once in a while, but it's a lot easier to exercise and maintain a weight once you get there.
My goal that I haven't accomplished yet is taking a road trip up the Pacific Northwest to see if there are any places that we want to move to with a lower COL. Really just need to nail down a date and force myself to get the planning done by that date. I think I'm going to ask for it to be a birthday trip in June. So far our short list: Eugene, Corvallis, Bend, Hood River. Anyone else have any other recommendations for nice places to raise a family? Santa Cruz is nice but expensive, and the druggie problem is seriously bad (like, people doing heroin and meth in public parks so that nobody ever wants to go to the public parks level of bad).
McMinnville? It's not crazy expensive, it's near the best wine country in the PNW, it's close to the coast and close to Portland?
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May 17, 2018 13:26
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Oh man, exciting stuff!
Current Liabilities -
- Approximately $380 of student loans all at usurious rates, but ALL eligible for forgiveness through public service and qualifying payments in 3 to 5 years. We are both approved for loan repayment provided we stay in not-for-profit employment!
- Approximately 20 months into a ($240 remaining) mortgage @ 3.2% on a 5/1 ARM. Rates are rising, might just end up paying this off in the next 40 months.
- Approximately $44 remaining in car loan at 2%.
- Approximately $24 remaining on car 2 loan at 1%.
Current Assets -
- Home assessed at $280
- Cars worth $30 and $20 a piece
- Retirement savings worth $300 (it was a very good year)
- Emergency fund of $50 and advanced budgeted spending on-hand
Net worth -
- Somewhere to the tune of ZERO. I don't know if you remember where we started (somewhere around six hundred k in the shitter) but we've made some progress.
By end of Q1:
- Pay remainder MBA tuition in full. Signed, sealed and delivered.
- Begin a taxable investment account. Done, we hold some naked stock in a taxable brokerage, having maxed out our protected room this in an ongoing basis.
- Document approval and payment status for student loan forgiveness. Done, both my spouse and I are on track to be approved for repayment under current PSLF guidelines.
By end of Q2:
- Breach zero net worth. This one is a little unclear because I don't have access to my wife's loan accounts but we're somewhere in the neighborhood of zero.
- Acquire MBA. Done, graduated with academic distinction near the top of my class. It's already earned me a promotion but I'm hungry for more.
By end of Q3:
- Pursue baby 2. Working on it 
By end of Q4:
- Our 403 (b)s fully funded. Automatic.
- Under 80% value remaining on the mortgage so we can refinance if we have to. We're here, just have to make the decision whether to just pay it off or not.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. I don't know that another one will be headed my way this year.
or
- Leave and found a startup. I'm trying to stay and get my employer to allow me to do this within the umbrella of the place I'm working currently.
Things we will not try to do:
- Acquire any new debt. Ayyy, lmao, so far so good! Froze our credit with the Experian thing and haven't been tempted once since.
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline.
Stretch Personal Goals
- One muscle up I am making some good progress in this direction, but it's been hard going. I am comfortable saying I'm in nearly the best shape of my life.
- Thirty (30) new books read I've done 27 already YTD so I am going to push on toward 52 for the year.
- Rower used 100 times I've only done like 20 times this year so I'm really lagging behind but that's okay I've been aggressive about getting to the gym.
- Cook 48 meals I'm keeping pace with this, chiefly because I have to because I've started eating vegetarian.
- Clean basement to where I would be comfortable hosting a World Cup viewing party I should be finishing the basement cleanup project this weekend. I don't think I'm going to host this party, ultimately, but I would be comfortable doing so in our space. I might push ahead with more major basement renovations over the next year.
- Write a book to self-publish On hold for the time being. Side hustles ended up getting pushed out by just working as hard as I can this year.
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Jun 1, 2018 19:21
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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June 2018 is almost in the books.
Current Liabilities -
- Approximately $380,000 of student loans all at usurious rates, but ALL eligible for forgiveness through public service and qualifying payments in 3 to 5 years. I've done the math on whether to refinance or to keep making payments in pursuit of forgiveness and it turns out forgiveness puts us way, way ahead in the long run (even if you consider the repayment taxable income which the DoE currently states it is not).
- Approximately 22 months into a ($240,000 remaining) mortgage @ 3.2% on a 5/1 ARM. Decision will need to be made to try to repay in full or refinance.
- Approximately $40,000 remaining in car loan at 2%.
- Approximately $22,000 remaining on car 2 loan at 1%.
- No other debts.
Current Assets -
- Home assessed at $280
- Cars worth $40 and $20 a piece
- Retirement savings worth $300 (it was a very good year)
- Emergency fund and advanced budgeted spending on-hand
Net worth -
- Just about zero. It depends on the whims of the market whether we're slightly negative to slightly positive.
By end of Q2:
- Breach zero net worth. This one depends on the whims of the market gods, but between our post-tax brokerage, our retirement accounts, the fluctuating real estate market, the depreciation on our autos and our cash balance, I think we've just squeaked over the line.
- Acquire MBA. Done, graduated with academic distinction at the top of my class. Had leveraged this already into a promotion and raise. Nothing further to do.
By end of Q3:
- Pursue baby 2. Working on it.
By end of Q4:
- Our 403 (b)s fully funded. Automatic.
- Under 80% value remaining on the mortgage so we can refinance if we have to. Don't know if we're going to do this one or just ice it with the plan that we'll move in 2021.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. I've been told that this one is coming.
or
- Leave and found a startup. Not right now for me, thanks.
Things we will not try to do:
- Acquire any new debt. So far, so good.
Stretch Goals
- 457 plan launched at work. University president has agreed, uncertain of the timeline. This won't happen this year.
Stretch Personal Goals
- One muscle up. This project is proceeding quite nicely, I've been able to do negative work, and I can do a band-assist muscle up on the bar, which is around where I need to be to get this done before January 1.
- Thirty (30) new books read. I've done 28 this year, so my stretch goal is increased.
- Rower used 100 times. Well behind on this goal, it's going to be closer to 40 times on the year, but mostly because I've been going to the gym so much.
- Cook 48 meals. I'm on track for this, and have started eating vegetarian, so I'm learning to cook some fun, interesting foods.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. I was ready to write this one off as a failure, but then managed to make some tremendous progress this last week on vacation, so I'm counting it as a win. I hosted friends down there for the Sweden / Germany game and managed to acquire a gently used, tournament quality Tornado foosball table for less than $400, so I'm quite pleased. I might spring for a big loving television if July looks good financially.
- Write a book to self-publish I've been doing some fiction writing for a competition with some friends, and while it's not a "book," I aim to have written 5,000 words for a short story competition we're having by the end of the month.
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Jun 25, 2018 17:33
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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July Update
July 2018 is finalized. Hard to believe 2018 is more than halfway done. Big decision for us is to take the $14K surplus we ran on the July bonuses and plow it into our mortgage to refinance to a conventional loan, to save it in a CD ladder toward a down payment on the next house (probably 36 months away on making this move), or to buy some more stock. The most we'd need for our next down payment is $140K, we have equity to the tune of $37K in the house already and if we tighten our belts we can save the down payment in less than a year.
I think I've decided to buy some more stock, but wanted to reason it out loud.
Current Liabilities -
- Approximately $380K of student loans all at usurious rates, but ALL eligible for forgiveness through public service and qualifying payments in 4 to 6 years. I've done the math on whether to refinance or to keep making payments in pursuit of forgiveness and it turns out forgiveness puts us way, way ahead in the long run (even if you consider the repayment taxable income which the DoE currently states it is not).
- Approximately 22 months into a ($240K remaining) mortgage @ 3.2% on a 5/1 ARM. We have decided we'll be relocating before the terms of the ARM expire.
- Approximately $45 remaining in car loan at 2%.
- Approximately $25 remaining on car 2 loan at 1%.
- No other debts.
Current Assets -
- Home assessed at $280
- Cars worth $35 and $20 a piece
- Retirement savings worth $370 (it has been a very good economic cycle)
- Emergency fund and advanced budgeted spending on-hand
Net worth -
- About 100K. Holy loving poo poo.
By end of Q2:
- Breach zero net worth. It's incredible to me how quickly this one happened.
- Acquire MBA. Done, graduated with academic distinction at the top of my class. Had leveraged this already into a promotion and raise. Nothing further to do.
By end of Q3:
- Pursue baby 2. Working on it.
By end of Q4:
- Our 403 (b)s fully funded. Automatic.
- Under 80% value remaining on the mortgage so we can refinance if we have to. We've decided to ice this one! We have been looking at real estate near constantly and have the plan that we'll move in Summer, 2021.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. I've been told that this one is coming.
or
- Leave and found a startup. Not right now for me, thanks.
Things we will not try to do:
- Acquire any new debt. So far, so good.
Stretch Goals
- 457 plan launched at work. University president has agreed, January 1, 2020! loving exhilarating.
Stretch Personal Goals
- One muscle up. This project is proceeding quite nicely, I've been able to do negative work, and I can do a band-assist muscle up on the bar, which is around where I need to be to get this done before January 1.
- Thirty (30) new books read. I've done 38 this year, so my stretch goal is increased to 52.
- Rower used 100 times. Well behind on this goal, it's going to be closer to 40 times on the year, but mostly because I've been going to the gym so much. I'm comfortable failing this one.
- Cook 48 meals. I'm on track for this, and have started eating vegetarian, so I'm learning to cook some fun, interesting foods. So far, so good.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. I was ready to write this one off as a failure, but then managed to make some tremendous progress this last week on vacation, so I'm counting it as a win. I hosted friends down there for the Sweden / Germany game and managed to acquire a gently used, tournament quality Tornado foosball table for less than $400, so I'm quite pleased. I've decided not to put any more money into the project, but it was a success.
- Write a book to self-publish I'm going to abandon this goal. We got a LOT busier at work and as a result, my position has gotten far more lucrative.
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Aug 1, 2018 15:50
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- EAT FASTER!!!!!!
- Sep 21, 2002
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Legendary.
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Is it the end of August already? I feel like so many of our goals are on autopilot, but we've made some really substantial progress.
Oh man, exciting stuff!
Current Liabilities -
- Approximately $380,000 of student loans all at usurious rates, but ALL eligible for forgiveness through public service and qualifying payments in 4 to 6 years. I've done the math on whether to refinance or to keep making payments in pursuit of forgiveness and it turns out forgiveness puts us way, way ahead in the long run (even if you consider the repayment taxable income which the DoE currently states it is not).
- Approximately 20 months into a ($240,000 remaining) mortgage @ 3.2% on a 5/1 ARM. We're going to move in 24 months.
- Approximately $50,000 remaining in car loan at 2%.
- Approximately $24,000 remaining on car 2 loan at 1%.
- Some tax liability related to cashing out my crypto holdings early this tax year.
Current Assets -
- Home assessed at $290-300
- Cars worth $40 and $20 a piece
- Retirement savings worth $410 (it's been an exceedingly, incredibly good year)
- "6 month" emergency fund and advanced budgeted spending on-hand
Net worth -
- Somewhere to the tune of $140k. I literally cannot. loving. believe. how fast this moved in our favor.
By end of Q1:
- Pay remainder MBA tuition in full.
- Begin a taxable investment account.
- Document approval and payment status for student loan forgiveness.
By end of Q2:
- Breach zero net worth.
- Acquire MBA
By end of Q3:
- Pursue baby 2. I'm hopeful we'll receive some good news on this front moving forward.
By end of Q4:
- Our 403 (b)s fully funded. Automatic.
- Under 80% value remaining on the mortgage so we can refinance if we have to. We're just going to move instead.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. This is upcoming.
or
- Leave and found a startup. Not going to do it.
Things we will not try to do:
- Acquire any new debt. So far so good, might consider trading my car for something more practical and less fun.
Stretch Goals
- 457 plan launched at work. University president has agreed, will begin January 1, 2020.
Stretch Personal Goals
- One muscle up. Really beginning to get into the final stretch with this goal.
- Thirty (30) new books read. I'm at 42 for the year so far, going for 52.
- Rower used 100 times. I've been going to the gym instead 2-5x a week, the rower is really just when I can't get there.
- Cook 48 meals. Great, we signed up for a vegan meal service called Purple Carrot, I think I'm somewhere around 36 so far.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. Done, yay France.
- Write a book to self-publish. Scrapped.
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Aug 31, 2018 15:50
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- EAT FASTER!!!!!!
- Sep 21, 2002
-
Legendary.
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The end of October!!! Hard to believe we're another year in the ledger.
Current Liabilities -
- A bunch of student loans all registered and eligible for PSLF.
- Approximately 24 months into a 5/1 ARM with approximately 80% remaining.
- Two car loans.
- Some tax liability related to cashing out my crypto holdings early this tax year.
Current Assets -
- A house assessed roughly 50k over our remaining mortgage.
- Cars worth about what we owe.
- Retirement savings floating along in the market. No changes anticipated other than ongoing contributions.
- "6 month" emergency fund and advanced budgeted spending on-hand.
Net worth -
- We good.
By end of Q1:
- Pay remainder MBA tuition in full.
- Begin a taxable investment account.
- Document approval and payment status for student loan forgiveness.
By end of Q2:
- Breach zero net worth.
- Acquire MBA
By end of Q3:
- Pursue baby 2. We pregnant!
By end of Q4:
- Our 403 (b)s fully funded. Automatic.
- Under 80% value remaining on the mortgage so we can refinance if we have to. We're just going to move instead.
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. This is upcoming.
or
- Leave and found a startup. Not going to do it. Doing some consulting work instead. Has proven to be very lucrative.
Things we will not try to do:
- Acquire any new debt. Might have a new house and new car incoming.
Stretch Goals
- 457 plan launched at work. University president has agreed, will begin January 1, 2020.
Stretch Personal Goals
- One muscle up. Got sick for about 10 days in October, really set me back.
- Thirty (30) new books read. I'm at 49 for the year so far, going for 52. Red Dead Redemption and Black Ops 4 really set me back here.
- Rower used 100 times. I've been going to the gym instead 2-5x a week, the rower is really just when I can't get there.
- Cook 48 meals. Great, I think I'm somewhere around 44 so far.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. Done, yay France.
- Write a book to self-publish. Scrapped.
Time to start thinking about goals for 2019 and 2020, I'd say!
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Nov 1, 2018 18:37
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- EAT FASTER!!!!!!
- Sep 21, 2002
-
Legendary.
|
Current Liabilities -
- A bunch of student loans all registered and eligible for PSLF.
- Approximately 24 months into a 5/1 ARM with approximately 80% remaining.
- Two car loans. Still two car loans, but I bought a new car in exceedingly BWM fashion.
- Some (small) tax liability related to cashing out my crypto holdings early this tax year.
- Some (small) tax liability related to my expert witness consulting side hustle.
Current Assets -
- A house assessed roughly 60k over our remaining mortgage.
- Cars worth about what we owe.
- Retirement savings floating along in the market. No changes anticipated other than ongoing contributions.
- "6 month" emergency fund and advanced budgeted spending on-hand.
Net worth -
- It keeps going up.
By end of Q1:
- Pay remainder MBA tuition in full.
- Begin a taxable investment account.
- Document approval and payment status for student loan forgiveness.
By end of Q2:
- Breach zero net worth.
- Acquire MBA
By end of Q3:
- Pursue baby 2. We pregnant! 20 week ultrasound complete, appears we're having a boy  
By end of Q4:
- Our 403 (b)s fully funded. Automatic.
- Under 80% value remaining on the mortgage so we can refinance if we have to. We're just going to move instead, and have begun house hunting to either move before the baby comes or two summers after (before the kids start school).
Yearly Goals:
- Acquire second medical directorship, commensurate pay increase and administrative time benefit. This is upcoming.
or
- Leave and found a startup. Not going to do it. Doing some consulting work instead. Has proven to be lucrative.
Things we will not try to do:
- Acquire any new debt. Oops, bought a new car.
Stretch Goals
- 457 plan launched at work. University president has agreed, will begin January 1, 2020.
Stretch Personal Goals
- One muscle up. Got sick for about 10 days in October, really set me back. My lifts are all up more than 50#, but I can't seem to get muscled up. Will continue this goal as long as it takes
- Thirty (30) new books read. I'm at 50 for the year so far, going for 52. Red Dead Redemption and Black Ops 4 really slowed my progress here, haha.
- Rower used 100 times. I've been going to the gym instead 2-5x a week, the rower is really just when I can't get there. I did add a treadmill to the basement for my wife for Christmas though (at her request)!
- Cook 48 meals. This one is done, and I capped the 48th with an absolutely insane turkey for Thanksgiving.
- Clean basement to where I would be comfortable hosting a World Cup viewing party. Done, yay France.
- Write a book to self-publish. Scrapped.
/bragging, but seriously we are incredibly grateful to have experienced so much amazing good fortune in the past 24 months. I'm incredibly indebted to many, many of you here in BFC for helping me and my family begin to think like adults about finances, and I try to pay it forward as much as possible with my colleagues, friends and family. I'm looking forward to formulating new goals for next year. I liked the format of crafting "SMART" goals as New Years Resolutions, and by and large it has really helped me get what I wanted to accomplish, accomplished. To another year as good as this one.
EAT FASTER!!!!!! fucked around with this message at 20:07 on Dec 3, 2018
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Dec 3, 2018 20:03
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