This is the next installment of our Quarterly Net Worth Updates. To read my previous Net Worth Updates click the following links.
- This post discusses some of my numbers and goals when I first started this site in November 2017.
- Here is my first quarterly net worth update written six months after I started my job as an attending (numbers from January 2018)
- Second Quarterly Net Worth Update (4/27/18)
- The One Year Out from training Quarterly Net Worth Update (7/30/2018)
If you don’t feel like clicking through those, our net worth started at negative (-) $208,000. By six months out, it had improved to (-) $78,819. Then, by 9 months out we were at (-) $40,270, and a year out we finally had a positive net worth a +$45,000!
Where are we now? Read on to find out.
[Note: I use personal capital to track my net worth. It’s a great tool and is completely free, though they’ll ask you to manage your money if you have >$100,000 in assets. I’ll refer you to my “Do-it-yourself” Investing Page to see what I think about that.]
15 Months Out: Net Worth Update
Here are my assets and the dollar amount for each category. All of this is as of 10/27/18
|Asset Class||Investment||Amount 10/27/18|
|Savings (emergency fund)||Cash||$30,076|
|TPP 403B||Vanguard Institutional Index Fund||$30,673|
|Vanguard Mid-Cap Index Fund||$17,506|
|Vanguard Small-Cap Index Fund||$17,323|
|Vanguard Total International Stock Index Fund||$11,792|
|Mrs. TPP 457 (governmental)||NC Fixed Income Index Fund||$379|
|NC Large Cap Index Fund (Black Rock)||$7,090|
|NC Small/Mid Cap Index Fund (Black Rock)||$4,559|
|NC International Index Fund (Black Rock)||$2,747|
|My Back Door Roth||Vanguard Total Stock Market Index Fund||$5,300|
|Mrs. TPP Back Door Roth||Vanguard Total Stock Market Index Fund||$5,300|
|529 TPP Kid # 1 (Utah)||$5,157|
|529 TPP Kid # 2 (Utah)||$2,757|
|529 TPP Kid # 3 (Utah)||$2,054|
|Home||Equity (Fair Market Value = $130,000)||$32,000|
(Total Assets without house included)
General comments on my assets
Comment Number 1: The numbers are a bit down for the quarter, but that will be explained below. Overall, our contributions haven’t dipped to our accounts outside of our 529 which we slowed down because our two youngest are in full time day care now.
Comment Number 2: Our house value has increased as we are planning to sell and have started noting comparable homes in the area that have recently sold.
Investment Comments on Assets
Comment Number 1: We are invested heavily in stocks. This has impacted our quarterly update a lot as the market entered a correction (down by 10% in the last month). This cost my net worth update about $15,000, but that’s the way the market goes! We can expect a correction once every 1.5 years.
Comment Number 2: I recently made the decision to start investing more of our future allocations in bonds (likely be around 90/10 or 85/15 around next quarter).
Here are my family’s current debts.
As a continued shout out: If you want to read a great book that provides perspective on why you should aggressively pay down your debt, I recommend Dr. Fawcett’s book on Eliminating Debt for Doctors.
|Class||Amount of Debt|
|My Car Loan||$37,841|
|Her Car Loan||$22,482|
|Home Mortgage (~98,000)*|
Some Comments on my Debt
Comment Number 1: We just received our quarterly bonus check, and this would typically be put towards our debt, but we like to save it up in our emergency fund and smash the debt with a hammer when we apply it every six months.
Comment Number 2: Given our decision to purchase a house, we have pushed back our timeline a touch from the last quarterly net worth update. But the goal was always to pay off our debt in 24 months after training, which we will still accomplish.
Comment Number 3: Once our student loans are gone, that will free up $5,500 in cash flow each month. $2500 will go towards a mortgage payment on a new house (combined with our current mortgage payment). $2,000 will go to a taxable investment account. And I’ve decided to put an additional $500 per month towards car loans + bonuses to pay off the cars as quickly as possible.
Comment Number 4: The car loans still exist, but they will be dealt with in short order after the student loans are paid off.
Net Worth = Assets – Debts
$195,897 – $122,534 = (positive) $73,363!
Goals / Summary
- We improved our net worth by $26,930 in the last quarter. Not too bad given that we lost $10,000-15,000 to the market correction. Taking the big picture perspective we are doing quite well.
- Since I finished training (when my net worth was -$208,000), we have improved our position by $281,363 in just 15 months.
- We plan to buy a house, but still plan to pay off our loans in two years after training, which was the original goal.
This should serve as proof that living like a resident after you works if you make a plan and stick with it!
We continue to build our net worth regularly and consistently. The vast majority of our dollars go towards this endeavor + 10% to tithing at our church each month.
We did have to make some compromises in our decision to push back our loan timeline to the original two year mark, but I think it is worth it because we are finding balance in doing so.
Share your awesome financial news! What goals have you accomplished this year? How did you do it? Leave a comment below.