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rated:
gotpong said:   
debtblag said:   Let's talk April 2016 net worth update. Over the last month, 

  • My debt went down $1400 to $80,100
  • My retirement savings went up by $12,800 (!!!) to $123,000
  • Combined, my net worth increased by an incredible $14,200 to $43,000 this past month

As you all saw, the markets did very well.
For things I could control, March was the first month a new raise in place and I wanted to get in the habit of saving as much as I could. Since the raise was about ten percent, I bumped my 401(k) deferral up from 50 to 60 percent -- the maximum our program allows. At this rate, I'll have maxed my 401(k) and Roth IRA with my April mid-month paycheck.Thanks!

  Just to be sure, is your company matching your 401k contribution.  If so you will be losing out on money by maxing out your 401k in April and losing out on the match for the rest of the year.  Not sure if this applies to you or not but if it does its something to think about.  


 

Yes, I made sure to check on this. I get a company match semi-monthly up to 6 percent for the paycheck, but at the end of the year they do a true-up where they give the remaining match to anyone who contributed at least 6 percent. It saves me from having to do the math to ensure I'll be able to contribute a lot upfront, but still have 6% left over for the rest of the year without hitting the $18k limit too early

rated:
May the 4th be with you?

May Update:

Student Loans:
Decreased 1.8k to 92.1k

Retirement:
Increased 2.9k to 115.5k

Cash & Short Term $:
Increased 9.0k to 47.0k

Net Worth:
Increased by 13.7k to 70.4k

Quarterly bonus & ESPP both hit in April, which caused the nice bump in Cash.
Still on pace to hit 100k by year end assuming no crazy market downturns.

rated:
May 2016 net worth update: 

  • My debt went down $1600 to $78,500
  • My retirement savings went up by $8,800 to $131,800
  • Combined, my net worth increased by $10,300 to $53,300 this past month

Dang. Well done jd2010. And I thought I had a good April 

The good news is that I maxed out my 401(k) for 2016 this past month. I respect both sides of the front-loading vs. dollar-cost-averaging debate, but like knowing that whatever may happen for the last eight months of the year, I don't have to worry about scrambling to hit $18,000.

The bad news is that I maxed out my 401(k) for 2016. Having already maxed out my IRA and with an company HSA match that doesn't take kindly to front-loading, I've either got to get creative to get more of that sweet, sweet tax-advantaged savings or continue to add to a taxable brokerage account... like I did last month.

As for hitting $100,000 this year, I'm on pace for it too, but it'll be a stretch given that my salary won't go as far post-tax as it did pre-tax.

rated:
June Update:

Student Loans:
Decreased 1.9k to 90.2k

Retirement:
Increased 1.7k to 117.2k

Cash & Short Term $:
Increased 0.5k to 47.5k

Net Worth:
Increased by 4.1k to 74.5k


Very quiet May with nothing much to report. 401k about 50% funded and on track to max (employer matching makes me cost average).

Breakout of where my $ goes per month:
+10k gross

-1.5k to 401k
-4k to federal/state taxes FICA/Medicare
-2k to student loans
-1.5k to live off of
=1k to short term savings

Based on these numbers I'm comfortable with hitting 100k net worth by year end.  As far as asset allocation goes, if Yellen dicks around with rates again my loan payments will start to rise which means itll start making more sense to pay them more aggressively with short term cash.  (Theyre currently at ~2.1% variable, with most of my short term cash in 36 month 2.5% CDs)

rated:
Here's my unnecessarily late June 2016 net worth update:

Retirement up $5,800 to $137,500
- Student loans down $1,800 to $76,700
----------------
Net worth up $7,500 to $60,800

May was fairly quiet for me too, though still a good month. The question I'm playing with these days has to do with the growing amount of retirement savings in taxable accounts and whether it could work harder for me paying off debt. The student loans are currently around 3 1/2 percent, but tied to ICE LIBOR, so could certainly get much higher if the Fed raised rates, right?

rated:
Race to 100k - July Update:

Student Loans:
Decreased 1.8k to 88.4k

Retirement:
Increased 2.2k to 119.4k

Cash & Short Term $:
Increased 1.0k to 48.5k

Net Worth:
Increased by 5.0k to 79.5k

Only notable transaction last month was ~6k in cash that I used to buy some index funds after the dip on Friday/Monday. Still on track... sizable bonus due to come in this month that should help pad the numbers.

rated:
My June had some hiccups, but ended fine:

I paid off another $1,500 of my student loan debt, bringing me down to $75,300
My retirement savings ended up $3,600 at $141,100
---------
In total, my net worth increased $5,000 to $65,900

Brexit gave me a real big scare late last month, putting me down around $15,000 at one point. Luckily, the indices I own mostly bounced back.

I started to have some serious doubts about having such an aggressive portfolio. It started to make the idea of instead sending excess cash to pay down my 3 1/2 percent student loans. When the dust settled, I decided the answer is that I should check my portfolio value once a month instead of every hour.

Halfway through 2016, my debt's down $9,000, my retirement is up $41,000, and my net worth is up an even $50,000.

rated:
debtblag said:    It started to make the idea of instead sending excess cash to pay down my 3 1/2 percent student loans. When the dust settled, I decided the answer is that I should check my portfolio value once a month instead of every hour.
  
The jumps are scary!  That being said, you've just discovered that your investing has a ton of volatility.  This is where I point you to the bogleheads forum.  

Personally though, unless you have absolutely any concerns about your job, I'd continue on the present course.  While the 3.5% student loan is both a guaranteed return AND if paid off would be a nice cash flow improvement, you'll only be able to use your 2016 tax-advantaged space THIS year.  The opportunity cost of the 3.5%, absent certain concerns/circumstances seems a bit higher than that of investing in tax-advantaged space.  Ie - right decision I think.

rated:
Here's an Aug 2016 update:

  • I knocked $1,600 off my debt, bringing it down to $73,600
  • My retirement savings increased to $149,397, a $8,300 gain

----------------------------------------------------

  • In total, my net worth increased by $9,900 to $75,800


Toward the beginning of the year, a goal of increasing my net worth from $15,000 to $100,000 seemed totally improbable. However, with just seven months complete, I'm over 70% of the way there. The big thing of this past month was travel, both for weddings or one surprise funeral.

The lesson I learned in July was the value of having airline miles. My gains would be off by several-hundred dollars had I had to pay retail for my last-minute plane tickets -- compared to losing 30k miles like I did. Maybe this month, I'll go get some more...

rated:
I'm confused...

Student loans: $73,600, 57% of the original $129,000 and refinanced below 4%
Mortgages: $294,000, 97% of the original $305,000 and refinanced both mortgages

2016 goal
Get to a net worth of $100,000: I'm over $75,000 after starting at $15,000 -- 70% there


So you have, somewhere in cash, $442,600? (73600+294000+75000)

ETA: congrats. seems like you're killing it!

rated:
jaytrader said:   I'm confused...

Student loans: $73,600, 57% of the original $129,000 and refinanced below 4%
Mortgages: $294,000, 97% of the original $305,000 and refinanced both mortgages

2016 goal
Get to a net worth of $100,000: I'm over $75,000 after starting at $15,000 -- 70% there


So you have, somewhere in cash, $442,600? (73600+294000+75000)

ETA: congrats. seems like you're killing it!

That much cash has passed through my hands at some point, yes, but I definitely don't have that much cash now. Instead, I have a degree and a couple investment properties purchased pre-crisis :/

In cash, no, sadly.

  • $73,600 went to education
  • $294,000 went to  mortgages (my property values are close to that)
  • $75,000 is my my retirement savings, less the debt I still owe

And thanks

rated:
So your net worth is nowhere near +75k then... or are you not counting certain liabilities? I admit, I haven't read the entire thread and apologize if I missed it in your first post.

rated:
jaytrader said:   So your net worth is nowhere near +75k then... or are you not counting certain liabilities? I admit, I haven't read the entire thread and apologize if I missed it in your first post.
  
Wtf are you talking about? Does the value of the homes he has mortgaged not count on the asset side in your mind or something?

rated:
Race to 100k - August Update:

Student Loans:
Decreased 1.9k to 86.5k

Retirement:
Increased 8.3k to 127.7k

Cash & Short Term $:
Increased 6.1k to 54.6k

Net Worth:
Increased by 16.3k to 95.8k

News of the month: Another quiet month, but my biggest of my quarterly bonuses hit my accounts in July, so these numbers soared. I owe my SO about 4k in rent/bills that are under her name that we haven't trued up, so the cash position right now is overstated, will likely dip in Sept. Based on estimates I plan to reach 100k net worth by Oct 1.

rated:
KatoKrazy said:   
jaytrader said:   So your net worth is nowhere near +75k then... or are you not counting certain liabilities? I admit, I haven't read the entire thread and apologize if I missed it in your first post.
  
Wtf are you talking about? Does the value of the homes he has mortgaged not count on the asset side in your mind or something?

  No, but until that value is realized, it's hard (note here: "hard" doesn't mean "impossible" so don't take that out of context) to include that in one's net worth, in my opinion. Just erring on the side of caution, is all.

In the meanwhile, why don't you get the stick out of your ass? I wasn't being rude, attacking, etc. In fact, I wasn't even talking to you... Why the need to be snippy and defensive? 

rated:
jaytrader said:   
KatoKrazy said:   
jaytrader said:   So your net worth is nowhere near +75k then... or are you not counting certain liabilities? I admit, I haven't read the entire thread and apologize if I missed it in your first post.
  
Wtf are you talking about? Does the value of the homes he has mortgaged not count on the asset side in your mind or something?

  No, but until that value is realized, it's hard (note here: "hard" doesn't mean "impossible" so don't take that out of context) to include that in one's net worth, in my opinion. Just erring on the side of caution, is all.

In the meanwhile, why don't you get the stick out of your ass? I wasn't being rude, attacking, etc. In fact, I wasn't even talking to you... Why the need to be snippy and defensive? 

  
I agree on the home values. That's why I don't include those and my mortgages in the net worth calcs.

rated:
debtblag said:   
jaytrader said:   
KatoKrazy said:   
jaytrader said:   So your net worth is nowhere near +75k then... or are you not counting certain liabilities? I admit, I haven't read the entire thread and apologize if I missed it in your first post.
  
Wtf are you talking about? Does the value of the homes he has mortgaged not count on the asset side in your mind or something?

  No, but until that value is realized, it's hard (note here: "hard" doesn't mean "impossible" so don't take that out of context) to include that in one's net worth, in my opinion. Just erring on the side of caution, is all.

In the meanwhile, why don't you get the stick out of your ass? I wasn't being rude, attacking, etc. In fact, I wasn't even talking to you... Why the need to be snippy and defensive? 

  
I agree on the home values. That's why I don't include those and my mortgages in the net worth calcs.

  Yes you do... You listed a $294k mortgage (or mortgages). Or were you just listing those, and not including them in the calc? Sorry, I'm really not trying to be obtuse. Just curious about the method to the madness, so to speak.

rated:
jaytrader said:   
debtblag said:   
jaytrader said:   
KatoKrazy said:   
jaytrader said:   So your net worth is nowhere near +75k then... or are you not counting certain liabilities? I admit, I haven't read the entire thread and apologize if I missed it in your first post.
  
Wtf are you talking about? Does the value of the homes he has mortgaged not count on the asset side in your mind or something?

  No, but until that value is realized, it's hard (note here: "hard" doesn't mean "impossible" so don't take that out of context) to include that in one's net worth, in my opinion. Just erring on the side of caution, is all.

In the meanwhile, why don't you get the stick out of your ass? I wasn't being rude, attacking, etc. In fact, I wasn't even talking to you... Why the need to be snippy and defensive? 

  
I agree on the home values. That's why I don't include those and my mortgages in the net worth calcs.

  Yes you do... You listed a $294k mortgage (or mortgages). Or were you just listing those, and not including them in the calc? Sorry, I'm really not trying to be obtuse. Just curious about the method to the madness, so to speak.
 

The latter; I don't include them in the calculations, but they're definitely a part of my decision-making

rated:
Thank you for the clarification--it's quite confusing to someone who hasn't followed the thread end-to-end.

rated:
Not gonna lie... this is pretty impressive. Kudos to you, my friend.

rated:
Gonna be busy next few days, gonna go ahead and do this today!

Race to 100k - September Update
Student Loans:
Decreased 1.9k to 84.6k

Retirement:
Increased 1.8k to 129.5k

Cash & Short Term $:
Decreased 1.5k to 53.1k

Net Worth:
Increased by 2.2k to 98.0k

News of the month: Got around to paying SO about 4k in rent and utilities owed, which is reason for cash drop. Changes at work have made job somewhat less secure and probably less likely for my comp to raise this year as originally expected. This means I am less likely to do anything to move up the student loan timetable.

rated:
jd2010, almost there , keep pushing !!!
debtblag, waiting for your update
 

rated:
jaytrader said:   Thank you for the clarification--it's quite confusing to someone who hasn't followed the thread end-to-end.
  go back to the beginning and start over. duh

rated:
imbatman said:   
jaytrader said:   Thank you for the clarification--it's quite confusing to someone who hasn't followed the thread end-to-end.
  go back to the beginning and start over. duh

  Nope. Way too lazy for that.

rated:
My turn for a Sep 2016 net worth update.

Retirement up $2,800 to $152,200
Debt down $1,800 to $71,900
--------------
Net worth up $4,600 to $80,400

Not a bad month, but it could have been better if not for the three cross-country weddings plus one cross-country funeral I attended. Luckily, I've got just two more for the rest of the year.

Maddeningly, if each of my remaining months is like August, I'll come up just $1000 short of hitting our $100,000 goal

Time to find some extra money...

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