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I really enjoy seeing the updates in this thread every month. I strive to achieve what some of you have been able to! EAT FASTER!!!!!! - sorry to hear about what you're going through. My wife and I went through a funk after our second was born, and I think I took it much harder than she did. I was depressed about the lack of intimacy and feeling like I lost my best friend due to time being taken by a number of things: the additional work of having two kids; our son being in the hospital regularly for the first 4 months of life; and a promotion at work that required a lot more time. It took a lot of arguments, crying, and communication to really express ourselves and understand each other. We're in a much better place now because we went through it together and were honest about expectations. Whatever happens, I'm sure you guys will make the best decision for your family. September update 2019 Financial Goals:
2019 Personal Goals:
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Oct 2, 2019 14:50
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September 2019 update: 1. Max out Roth IRA - Accomplished in March. 2. Try to max out 457 account - I increased my contributions from $1k per month to $1.3k, with the extra 300 being a roth contribution. I figured I'm probably in the lowest tax situation I'm likely going to be in for some time, so I should take advantage of the fact that I have the option of making roth contributions to my 457. 3. Promote to the next job level in my career path - This ended up being a trip, the position my mentor had in mind for me ended up not being available as the person in the job ended up NOT leaving, and it was difficult to find another opportunity for myself. However, last week I received an offer for an interesting promotion elsewhere in the organization. I'll start in about two weeks - starting salary is $81k per year. 4. Move in with my gf - Accomplished in February - life w/ gf has been good 5. Maintain or improve my current savings rate of 40% of gross income - I've been closer to 30%, but my overall pay has been higher so my contributions this year have still been the largest they've ever been, so I'm not too upset. 6. Increase emergency fund to $10k - Still in progress, I've saved $6.6k
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Oct 4, 2019 06:13
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Omne posted:2018 was.....bad. Stupidly leased a car, put down a deposit on a new construction home, and now need to replace some savings. The worst is that at the end of the year, it feels my job situation is not great. That will be my number one priority starting ASAP. I won't be as aggressive with my debt payments as I could be, as I want to continue rebuilding savings and add more to our emergency fund (4 months currently) just in case. IF my position is eliminated OR we don't feel comfortable, we will walk away from the house. Even if we can't get our deposit back, I'd rather that than be saddled with a mortgage with only one of us working. Well I guess I'll do an update, since I haven't done one yet this year... 1. The job feels much more stable and I feel I'm in a good position, next in line to be VP of my department 2. Savings has gone from $3k to $10k but it's been stagnating there for a bit 3. My student loan is down to $7800 and change, so this one is on track
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Oct 6, 2019 20:03
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KYOON GRIFFEY JR posted:so right now looks like we are at +5K, which includes a ton of market value increase. it also includes taking on roughly $14K in debt (at 1.9) for a new car. I still think +67 is within reach but it will now depend more on bonus this year for which guidance is good. but the net effect is not so good right now. i realized that i suck at math / typing numbers in to excel and we are at +24k net worth (again including market value increases) so that's not nearly so bad as i thought. we gonna get it.
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Oct 8, 2019 16:48
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EAT FASTER!!!!!! posted:
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Oct 9, 2019 04:21
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October 2019 update: Goals: Pay Rent On-Time: $805 on 11/01 Past-due parking tickets so my car doesn't get booted or towed and i can renew the reg in December: $600??? Oil change i need to get that the car's 25% overdue for: $90 Rice and Beans: $30 Veggies: $60 Train fare: $40 ($150 if my car gets booted/towed) Gas $80 Misc poo poo that always comes up and can't wait: $100-$400 $534 in checking $409 paycheck to be picked up $250 side job planned for Oct 14-17 $300 maybe i'll get some hours the last weekend of the month. Balance: between -$312 and -$712 looks like i'm going to have to be an irresponsible poor who can't manage their money and skip paying some bills! i wonder which will gently caress up my life the least? probably the parking tickets
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Oct 9, 2019 10:40
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90 bucks for an oil change seems... steep
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Oct 9, 2019 11:55
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OMGVBFLOL posted:October 2019 update:
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Oct 9, 2019 13:41
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KYOON GRIFFEY JR posted:90 bucks for an oil change seems... steep Hoodwinker posted:Make a thread.
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Oct 9, 2019 14:00
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Somehow I doubt the guy who's struggling to make rent is driving a Superior German Automobile or brodozer that requires fifteen quarts of oil but sure, maybe. Brother man should make a thread though for sure.
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Oct 9, 2019 14:26
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OMGVBFLOL posted:October 2019 update: A) make a thread so we can unfuck your life B) what the gently caress do the oil yourself you literally just need a bucket and a funnel
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Oct 10, 2019 16:12
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Nam Taf posted:A) make a thread so we can unfuck your life
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Oct 10, 2019 16:38
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KYOON GRIFFEY JR posted:Somehow I doubt the guy who's struggling to make rent is driving a Superior German Automobile or brodozer that requires fifteen quarts of oil but sure, maybe. I thought you read the BWM thread? 
howdoesishotweb fucked around with this message at 16:44 on Oct 10, 2019 |
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Oct 10, 2019 16:40
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howdoesishotweb posted:I thought you read the BWM thread? look im the guy who pays a hundred forty bucks for an oil change im just trying not to project my mistakes on others
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Oct 10, 2019 19:04
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KYOON GRIFFEY JR posted:look im the guy who pays a hundred forty bucks for an oil change im just trying not to project my mistakes on others laughs in Porsche
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Oct 10, 2019 19:12
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lol y'all got played, my car came with oil installed
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Oct 10, 2019 22:30
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GoGoGadgetChris posted:lol y'all got played, my car came with oil installed
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Oct 11, 2019 12:50
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Q3 Update Financial Goals for 2019 - Max out our 403b and backdoor Roth IRAs On autopilot - Contribute - Get current 403b provider to add a low cost total bond market fund On the back burner for now - Open 529 for kid #2, save $1k/mo per kid to each 529, maybe consider splitting between 529 and UGMA account for more flexibility Autofunding 529s for now for both - Save $1k/mo for house maintenance/repairs On autopilot - Save $1k/mo for planned car purchase/house remodeling in 5ish years Still going, added $10k from wife's bonus unexpectedly - Maintain 3 months expenses in HYSA Remains well over including house savings funds - - No new debt May have to modify, wife's car is having intermittent issues and may need to be replaced, will probably take a car loan if we can get <2% interest rate on a new CR-V or something Personal Goals - Implement financial literacy curriculum for medical trainees First 3 talks given, others scheduled, working on advertising/turn out - Publish one 1st author paper or similar Eh... lots of other stuff has come up, maybe next year - Get more protected time for teaching Got some time for a coaching program and for teaching ultrasound to residents, can't really cut back clinically more without hurting other projects - Schedule a regular date night with wife, probably some time after maternity leave Have had 2 successful date nights so far, aiming for once a month - Get back into doing squats and deadlifts, avoid throwing out back for the 6th time Went to 10x10 to work on back issues and after stalling out for a few weeks, seems to be ok so far Mother in law was recently diagnosed with a glioblastoma, now on home hospice for the last 2 months, so navigating wife taking a bunch of time off and reduced salary + doing the single parenting thing with the kids almost every weekend I'm not on call has been, well, a bit stressful. The unexpected bonus helped financially at least.
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Oct 11, 2019 22:09
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Chu020 posted:Mother in law was recently diagnosed with a glioblastoma, now on home hospice for the last 2 months, so navigating wife taking a bunch of time off and reduced salary + doing the single parenting thing with the kids almost every weekend I'm not on call has been, well, a bit stressful. The unexpected bonus helped financially at least. I hope she's comfortable, sorry about this. Great work on the rest of it.
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Oct 12, 2019 01:38
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Chu020 posted:Q3 Update Ouch. I really hope things turn out as well as they can under the circumstances. The more I read this thread, the more I realize just how fortunate we all are. It’s clear that we’re all fighting certain demons at any given moment, but having ANY financial sense makes it more likely that we can navigate life much smoother. I initially felt embarrassed to put E/N stuff in my posts, but now I realize that’s the loving point of trying to be financially free.
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Oct 14, 2019 02:05
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October Update! Raise net worth from 129k to 159k. $163.6k GOAL MET Increase house fund from 23.5k to 40k. $33.5k (not gonna meet it!) Increase e-fund from 9.8k to 12k. $11.8k (on track!) Contribute $2.8k to my Roth IRA. $2.4k (on track!) Turns out I don't need knee surgery! Yay.
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Oct 31, 2019 15:34
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spinst posted:Turns out I don't need knee surgery! Yay. gently caress yeah!
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Oct 31, 2019 15:40
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This year I've moved into a rented house instead of an apartment, got two roommates, maxed out my 401K (19,000 + 8% matched), Roth IRA ($6000), and have been putting away $1000 / month into a taxable account, and have a year's expenses in a high interest savings account. I got laid off 2 years ago on Thanksgiving with no warning right as my car broke down, and with pneumonia, and then it took me several months to find a new job. That terrible experience encouraged me to save more money and I've managed to save almost $50,000 last year into retirement, taxable, and savings, meeting all my goals for 2019 2 months early.
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Oct 31, 2019 17:56
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KYOON GRIFFEY JR posted:gently caress yeah! I've learned my lesson to no longer believe doctors when they say they are "95% sure" of something.
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Nov 1, 2019 03:10
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End of OctoberDoccykins posted:2019 goals  Zero consumer debt Still eating out at lunch a fair bit; 75/25 was definitely a tough goal but am currently still around 50/50 £3,420.69 (and a hundred due to go in today) on ice until end of the year > £96k, still on target just need to push for the line
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Nov 1, 2019 12:01
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I meticulously track my finances, so it makes sense for me to post this for accountability to someone other than myself. Goals for 2019: Increase emergency fund to $12,100 On track, but might be derailed a little because my FIL passed away recently with no life insurance/assets whatsoever. Splitting final expenses with my sister in law. Increase taxable investments to $74,900 On track. I know by the letter of the law I shouldn't have this much in taxable, but I was a dummy and invested some extra cash on hand in 2008 which has grown substantially. Ideally I would just liquidate this, and live off it for 2 - 3 years while maxing out my 401k, but  . I currently only contribute $50 a week to this.Increase net worth to $320k Off track. Will probably end the year around $310k, this is due to my home value going down recently. Entering the winter and Connecticut's real estate market has been pretty slow overall. Increase retirement (401k + IRA's) to $74,000. On track. Currently contributing 6% of my paycheck to my 401k to maximize company match. Will top off the IRA's for my wife and I in early 2020.
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Nov 1, 2019 14:23
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October was absolutely awful, but for new and uncool ways. This has been a hard year.EAT FASTER!!!!!! posted:Current Liabilities - After last month's marriage drama (we're in counseling, it's not really better but not really any worse) I had some poo poo go down at work. Basically I ran a project that will end up saving my hospital 1.5M annually. My boss booked it as a huge win and it made her look great. She got a nice raise out of the equation. As the project is sun-setting, my "administrative stipend" - some 18K annually - is set to expire. I tried to negotiate to make it a permanent part of my salary, or to acquire another administrative position to make up the loss it will represent. The department said "no thanks," but my chair also chose the literal middle of the negotiation as an opportunity to air some grievances "she'd heard" for the first time about me as an employee. This is stuff that has never shown up in a review, has never been given to me directly, has never been stated in person prior to the middle of this negotiation. I was pretty hot. My feelings are pretty hurt, and I'm not super eager to continue on working here. I'm working to see what it will take to terminate my non-compete (and try to find employment locally) but there's a job about 100 miles away that was pretty close initially to what I'd have considered my dream job. I really like what I'm doing, and I have some opportunity here to make more big, systematic changes in healthcare, but it's hard to argue with the increase in compensation (which is about 150% what I make in academics). Unfortunately there's currently nothing in that market for my wife, who's also a physician, and she doesn't want to move. Thankfully we have a big, robust emergency fund and tons of money squirreled away for days cloudier and more rainy than these, so I'm grateful for all the insight and advice I've gotten from you guys throughout the past 3+ years.
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Nov 1, 2019 16:02
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nov update: Overall net worth +67K including: Max IRAs 12K - done Max my 401K 19K - on track w auto contribs Housing downpayment fund +36K not on track due to housing scam et al below so right now looks like we are at +46K, which includes a ton of market value increase. it also includes taking on roughly $14K in debt (at 1.9) for a new car. I still think +67 is within reach. Don't take on any debt for wife's grad school on track Move for the summer for wife internship, cover all these costs with her pay this was a dismal failure due to housing scam and then having to rent a short term corp apartment for $texas but we survived! Non-financial (or deleterious to overall financial picture): Ski at least 8 days ya bub Go on one major non-skiing vacation we are taking two half major vacations so i'll count it adding in: work out at least 3x/week some weeks yes, some weeks nob
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Nov 2, 2019 20:59
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October update 2019 Financial Goals:
2019 Personal Goals:
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Nov 3, 2019 04:10
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EAT FASTER!!!!!! posted:October was absolutely awful, but for new and uncool ways. This has been a hard year. Ugh, it gets hard when both the home front and work get bad, and dealing with 2 young kids at the same time makes it so much harder. Don't know if this is an isolated incident at work or if it's just the latest in a pattern of issues. If it's the former, and otherwise you have good colleagues, like the job, and your boss is otherwise usually supportive then I'd take some time to let things settle out before making big moves, but get any info that gives you better BATNA just in case. If it's the latter, then I guess the question is how good your other options are, and how flexible you can be given the other issues you're dealing with. Sorry you're having to deal with it all at once.
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Nov 3, 2019 12:26
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Early November Update Current State -  - My student loans: 180k, eligible for PSLF in 3.5 years - 1 car loan, 22k @ 3% - Bought a house early this year Financial Goals for 2019 - - - - - Put $5k/month in to a taxable account. NEW, set on autopilot, on track. - Pay off my wife's student loan ASAP - On track. Will get paid off in the next few months. - Continue maxing out our 401ks - On autopilot - Continue maxing out our HSA On autopilot - Rebuild emergency fund back to 50k (down because of some extra cash we had to put down for the house) DONE, want to get to 100k as an emergency fund/new car fund - Annual recertification of PSLF in September DONE - No new debt unless it's for a really bitchin' car Pretty satisfied where things are right now. Wife's student loans are almost gone, and I'm in the process of refinancing our mortgage to a 15 year fixed at 3%. I'll need to do some goal setting for 2020 soon, but first I want to get the 2019 goals squared away by the end of the year. Residency Evil fucked around with this message at 00:54 on Nov 6, 2019 |
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Nov 6, 2019 00:50
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Residency Evil posted:Early November Update You guys are absolutely crushing it. Nice work.
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Nov 6, 2019 14:32
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Residency Evil posted:69k left at 1.9% Why pay this off faster? That lags inflation, so you're losing money paying it off vs investing. (I would say the same about the 2.5% debt but that ship has sailed.)
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Nov 8, 2019 00:21
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H110Hawk posted:Why pay this off faster? That lags inflation, so you're losing money paying it off vs investing. (I would say the same about the 2.5% debt but that ship has sailed.) Agreed. The car loan is much higher interest so that seemed to be the one to prioritise. Does this one’s rate jump at some date?
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Nov 8, 2019 00:44
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There's a mental thing about paying your student loans down. I know it's not beep boop min max ideal, but unlike a house or a car where there's a real asset you kind of feel like it's just this debt albatross around your neck.
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Nov 8, 2019 17:36
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EAT FASTER!!!!!! posted:There's a mental thing about paying your student loans down. I know it's not beep boop min max ideal, but unlike a house or a car where there's a real asset you kind of feel like it's just this debt albatross around your neck. Yeah, I get that. It's why I waffle back and forth on destroying my mortgage.
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Nov 8, 2019 19:04
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H110Hawk posted:Why pay this off faster? That lags inflation, so you're losing money paying it off vs investing. (I would say the same about the 2.5% debt but that ship has sailed.) Nam Taf posted:Agreed. The car loan is much higher interest so that seemed to be the one to prioritise. Does this one’s rate jump at some date? EAT FASTER!!!!!! posted:There's a mental thing about paying your student loans down. I know it's not beep boop min max ideal, but unlike a house or a car where there's a real asset you kind of feel like it's just this debt albatross around your neck. Yeah, it’s mostly a mental thing. It’s a variable interest refi for five years, and the most recent rate is at 1.9%. I agree it’s kind of silly to repay that money aggressively, but we’ve told ourselves that we’re paying it off ASAP. I may just end up paying the car off early once our mortgage refinance is finalized, versus upping our taxable investments by a few more thousand a month. Any strong opinions?
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Nov 9, 2019 00:06
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Residency Evil posted:Yeah, it’s mostly a mental thing. It’s a variable interest refi for five years, and the most recent rate is at 1.9%. I agree it’s kind of silly to repay that money aggressively, but we’ve told ourselves that we’re paying it off ASAP. I may just end up paying the car off early once our mortgage refinance is finalized, versus upping our taxable investments by a few more thousand a month. For some reason, cash flow seems discounted in the "pay off debt vs invest" discussions. You can knock out student loan debt often (improves mental satisfaction and cash flow), knock out the car (ditto), and it's clear that you have a good plan for the other aspects of your financial life. That means you will also be able to adjust your automation goals to reach them faster, or waste it on extra cocaine binges (don't do this).
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Nov 11, 2019 01:00
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Residency Evil posted:Any strong opinions? As previously mentioned, it’s so low that it’s paying itself down just through inflation. You’re losing money in real terms by paying it off. I’d personally target the car and remind myself that if something happens to it then you’re free of having to wear a debt without the car to support it. I’d then let the student loans stick around on minimums and build a nest egg of savings in term deposits such that when interest rates kick up you can just bulk pay it off. Having said that, I completely understand the mental aspect of being free of them. It’s decluttering your financial life. You’re clearly disciplined enough with a firehose of cashflow that no matter what you do, you’ll be just fine. It just may not be the nerdy optimal thing. And that’s fine. Whilst I get a kick out of optimising poo poo like that, I totally understand people who don’t. Do what feels right to you. All paths lead to financial security for you if you keep your current heading, just some may be a few small steps more.
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Nov 11, 2019 01:46
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With the size they are and the amount you've got left remaining I'd honestly just slay them and move on to the next thing.
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Nov 11, 2019 15:54
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