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  • I’m just happy to be not as negative as I thought I’d be half way through med school. Covid policies have appreciably lowered my debt load I think.

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    • The gains in my net worth (excluding my house) are at least 2x my income. Like Kamban said, my early persistent savings is what is bringing in the bulk of my current gains.

      i get upset thinking the years I didn't invest. All the wasted years. At least my far younger brother is kinda feeling the "save early" mentality.
      $1 saved = >$1 earned. ✓

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      • Originally posted by Kamban View Post


        But as you said, it is the savings and frugal mentality that counts, not these 6K back door Roth's. In the big picture, they are small potatoes.
        For the younger readers - do the BDR. For my wife it will be probably >300k at retirement. I will be the same but hard to tell because of MBDR contributions making it tough to tell as that account is much bigger. And we didn’t figure this out very early in our investing.

        6k might not seem like much but it really adds up over time. This is the discipline in investing you hear about

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        • Originally posted by Bellescamp View Post

          For the younger readers - do the BDR. For my wife it will be probably >300k at retirement. I will be the same but hard to tell because of MBDR contributions making it tough to tell as that account is much bigger. And we didn’t figure this out very early in our investing.

          6k might not seem like much but it really adds up over time. This is the discipline in investing you hear about
          I agree. I’ve been contributing to an after-tax IRA since the beginning of my training in the 1980s and to my wife’s in the 1990s when the spousal IRA contribution was equalized to the main earner’s (it was limited to ~$200 before). With a Roth conversion in 2010 and BDR since then, her account is approaching $600K. Small contributions add up to serious $ when allowed to compound.

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          • Originally posted by childay View Post

            Happy backdoor roth IRA day regardless!
            there's a war on Backdoor Roth IRA day!!

            (actually there kind of is this time)

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            • Originally posted by eyecandy View Post
              Wow amazing numbers here. Mine isn’t as impressive as others, but I’m pretty proud of it. Happy New Year!

              2013 -225K
              2014-2015 edu loan pay down
              2016 zero
              2017 275K
              2018 540K
              2019 910K
              2020 1.3
              2021 2.0
              edit: was reading back and found some crazy similar numbers here.

              1/1/2016 - 25k
              1/1/2017 - 231k
              1/1/2018- 599k
              1/1/2019 - 845k
              1/1/2020 - 1.1M
              1/1/2021 - 1.5M
              1/1/2022- 2M

              I just did our BDR contributions which will have about 85k total so far between my wife and I. Income has been between 260k to 600k generally somewhere in the middle. Savings rate is probably over 30% but I haven't really calculated it this year. No fancy investments. Age 39. I really can't believe the market returns the last few years. My initial goal was 1 million by 40, but good income, savings rate and return have blown that away. Also, we were lucky to have a lot of retirement space early on. We've only invested a substantial amount in taxable the last 2 years.

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              • The recent market gains have certainly favored those who invested in stocks-it will be interesting to see how my diversification into commercial real estate plays out with the next correction
                Last edited by Eyemd356; 01-05-2022, 09:08 AM.

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                • My wife and I are probably on the lower earning end of this board, low $300,000s, but I am very happy about our progress. Roughly 1-1.5 more years of student loans and that's another $2,200/month back. Will probably let nanny go in two years and that's another $40,000/year back to us minus school expenses, so let's realistically call it $20,000-$25,000/year back to us. So in the next couple of years +/- $45,000/year will be available to invest more, or inevitably upgrade from our starter home.

                  January 2017: -$51,656
                  January 2018: $13,946
                  January 2019: $63,289
                  January 2020: $240,163
                  January 2021: $477,874
                  January 2022: $673,805

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                  • Originally posted by The Wiz View Post
                    My wife and I are probably on the lower earning end of this board, low $300,000s, but I am very happy about our progress. Roughly 1-1.5 more years of student loans and that's another $2,200/month back. Will probably let nanny go in two years and that's another $40,000/year back to us minus school expenses, so let's realistically call it $20,000-$25,000/year back to us. So in the next couple of years +/- $45,000/year will be available to invest more, or inevitably upgrade from our starter home.

                    January 2017: -$51,656
                    January 2018: $13,946
                    January 2019: $63,289
                    January 2020: $240,163
                    January 2021: $477,874
                    January 2022: $673,805
                    Not so much lower end as earlier career stage. $300k a year is plenty. In terms of actual progress, you are doing great! Keep it up. Compounding will start to kick in soon enough.

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                    • I know we all know about compound growth, but I sure hope people reading these numbers being posted see that usually your net worth grows more and more each year compared to the prior year. Our NW was growing $200k/yr at first....then $300k....now we're in the mid 400s and I'm sure in a year or two it'll be $500k+.Compounding is grand

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                      • I did this at Bogleheads a few years ago ( before I was banned), so I just reviewed last year and currently:
                        1984 $11000 ( junior surgery resident, moonlighting in ERs, no debt)
                        1987$100000 ( salary $125000 with bonus in group practice plastic surgeon)
                        1990$500,000 ( bought a condo for $75000 cash)
                        1993 $1000,000 ( most invested money was with Mutual Shares, started to buy HD, JNJ, MSFT, GE. Built house $500000 cash)
                        1999 $$3,500,000 ( lost about 30% after tech crash,converted all non individual shares to VFIAX after tax losses)
                        2010 $10,000,000 ( private practice plastics, earning 1.2 million at peak, average less)
                        2015 $18,000,000 ( retired at 59) Sold practice for $500,000!
                        2016$25,000,000 ( inherited $4 million bond ladder after father dies)
                        2020$36,350,000
                        2022 $44,358,990 ( includes 2 homes Zillow valuation of $1,090,000 and $840,000)
                        S& P 500 compounding, a few individual home runs, and the worst real estate investment record imaginable. Currently 75/20/5

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                        • Originally posted by Larry Ragman View Post

                          Not so much lower end as earlier career stage. $300k a year is plenty. In terms of actual progress, you are doing great! Keep it up. Compounding will start to kick in soon enough.
                          I wish we were early in our careers. We'll be 37/38 this year. Still 20'ish years left to work I guess. I'm not in medicine. Private petrochemical transportation. She is a pediatric, academic allergist. She'll get modest raises as she climbs the ranks, but nothing like private practice. All in all, we are doing vastly better than most (outside of this board) lol.

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                          • Originally posted by Auric goldfinger View Post
                            I did this at Bogleheads a few years ago ( before I was banned), so I just reviewed last year and currently:
                            1984 $11000 ( junior surgery resident, moonlighting in ERs, no debt)
                            1987$100000 ( salary $125000 with bonus in group practice plastic surgeon)
                            1990$500,000 ( bought a condo for $75000 cash)
                            1993 $1000,000 ( most invested money was with Mutual Shares, started to buy HD, JNJ, MSFT, GE. Built house $500000 cash)
                            1999 $$3,500,000 ( lost about 30% after tech crash,converted all non individual shares to VFIAX after tax losses)
                            2010 $10,000,000 ( private practice plastics, earning 1.2 million at peak, average less)
                            2015 $18,000,000 ( retired at 59) Sold practice for $500,000!
                            2016$25,000,000 ( inherited $4 million bond ladder after father dies)
                            2020$36,350,000
                            2022 $44,358,990 ( includes 2 homes Zillow valuation of $1,090,000 and $840,000)
                            S& P 500 compounding, a few individual home runs, and the worst real estate investment record imaginable. Currently 75/20/5
                            Thats incredible, congratulations. My first thought was you must have had some great individual picks, but I looked back on Portfolio Visualizer, and its almost exactly inline with your allocation. The obvious take away is let compounding work. And second, continue to contribute.

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                            • Originally posted by The Wiz View Post

                              I wish we were early in our careers. We'll be 37/38 this year. Still 20'ish years left to work I guess. I'm not in medicine. Private petrochemical transportation. She is a pediatric, academic allergist. She'll get modest raises as she climbs the ranks, but nothing like private practice. All in all, we are doing vastly better than most (outside of this board) lol.
                              just to give you an idea about my life , in surgical sub specialty ( started in low 200s in academics ), no idea about personal finance till 36-37 years of age . Only good thing is I like saving overall . So, from my perspective , you are doing well. I know it doesn’t feel like that on this forum .

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                              • Originally posted by uksho View Post

                                just to give you an idea about my life , in surgical sub specialty ( started in low 200s in academics ), no idea about personal finance till 36-37 years of age . Only good thing is I like saving overall . So, from my perspective , you are doing well. I know it doesn’t feel like that on this forum .
                                This forum consists of some of the top financially savvy physicians. Survey all physicians in the US, and perhaps some mcmansions may have appreciated in value but I assure you their net worth is not on the same trajectory as anyone who posted here. Save, invest in boring index funds, and allow compounding to do its thing and you'll do just fine over your career.

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