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Financial goals you've achieved this year (2017)?

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  • Financial goals you've achieved this year (2017)?

    Turkey day is around the corner and we all seemed to enjoy sharing our accomplishments last year so let's do it again.

     

    What financial goals have you all accomplished this year?

     

    I’ve achieved the following:

    1) Fully funded my backdoor Roth IRA for 2016 and 2017.

    2) Maxed out my 403b.

    3) Utilized a brokerage window and transitioned my old 401k from a high ER, actively managed set of funds to my own selection of low-cost index funds. I'm up 17% this year and the fees are pretty negligible. For some reason, I'm having trouble doing this with my other accounts.

    4) Went from $0 net worth December 2016 to $100k+ within the last 60 days.

    5) Roth IRA passed the $100k mark this year.

    6) Filed my taxes by the April 15th deadline. Super happy about this.

    7) Found out I qualify for my workplace pension.

    8) Paid off my student loans in April.

    A few words about this accomplishment. After 10 months of nose-to-the-grindstone commitment, I thought I would feel a greater sense of achievement and euphoria but I didn't. At least not immediately. However, as time has passed and the student loan funds have been funneled toward other financial and personal goals and I no longer have the financial burden associated with student loans, I am overall happier and I tell everyone I paid off my student loans. I should probably stop but I can't help myself. Additionally, my perspective regarding personal and professional opportunities is far more expansive and fearless.

    9) Maxed out my 6-month emergency fund within 4 months of paying off my student loans.

    10) Continued to read personal finance books.

     

    So how'd you all do this year? Did you accomplish the goals you set in that 2017 goals thread? Did you exceed your own expectations? How many of the following milestones did you check off (and celebrate) this year? https://www.whitecoatinvestor.com/14-financial-milestones-worth-celebrating/

     

     

  • #2
    congrats on the loans, now on to the 2 comma club!

    Comment


    • #3
      1. Paid off student loans!

      2. Maxed out 401ks and backdoor Roths, and did up to the state tax deduction for 529s, plus started a taxable account. Total savings rate was 25% (not including money put toward loans)

      3. Hit a net worth of 500k!

      4. Have enough money sitting in the savings account to pay for the upcoming minivan purchase in cash- I won't need to finance that world's most expensive vacuum cleaner!

      Big year for us. 2018 probably won't be as many milestones, just hoping to do more of the same with savings rate

      Comment


      • #4
        Nice!

        1. Fully funded our Roth's and 401k's for the first time this year!  With the employer matches and contributions that's over $65K placed into our accounts!

        2. Saw our net worth climb to somewhere around $400k (depending on the market value of our house)

        2. Gained control over our spending and learned a ton about personal finance so we can actually build wealth from now on

        Goals for 2018 are simple...Pay off all debt except the mortgage and again max out all of our tax advantaged accounts.  I'm also going to try to put at least a small amount into our taxable account each month.

        Hopefully in about 6-8 months I'll also be able to say I paid off all my student loans and we should see our net worth go over $500k for the first time...assuming there's not a big market correction.

        Comment


        • #5
          It has been about a year since I found WCI so I just got started in 2017. I think I've made a good start with the following:

          - Made myself accountable for my spending and stopped with excessive "one time" expenses (also did not buy that new car I had been thinking about)

          - Started a taxable Vanguard account and set up an automatic monthly contribution (I had already been fully funding all tax advantage accounts)

          - Retirements accounts value over $100k

          - Have paid off 1/3 of my mortgage

          Goals for 2018: travel more but keep spending under control

          Comment


          • #6
            Transitioned to attending this October (took few months off after residency)

            1. Maxed out both my and spousal Roth IRA

            2. On the way to max out my 403b and spouse's 401k with employer match

            3. Maxed out HSA

            4. Contributed to 529 up to state tax deduction

            5. Threw the sign on bonus and the annually forgivable loan of 55k towards the student loan to cut it down to 85k

            6. Found out that a 457b plan is available at work with flexible distribution option. Wanted to max it out, but payroll could not process it early enough so, putting about 10k in there

            Plan for 2018 is to keep maxing out all the tax advantaged accounts and aggressively payoff that 85k of student loan remaining

             

            Comment


            • #7
              Net invested assets over 1mm.

              Spent countless hours getting a clear picture of spending and investing.  Gained control of my investing (except for group managed 401k/defined benefit...maybe next year).

              Net worth increase over 500k.

              Comment


              • #8
                I'm a second year resident, and as of a month ago our retirement accounts that we're opened when residency started just crossed 20,000. Not as high of a savings rate as I wanted, but powerful to see it building up.

                Net worth is still ballpark around -500,000 but it's a start.

                I actually calculated it and we are saving money slightly faster than interest is accruing on our student loans... So yay?

                Comment


                • #9
                  Nice job everyone!

                  2017 was pretty good for us!

                  1) Maxed out 403B/401K

                  2) Started and maxed out HSA

                  3) Decreased student loan principal balance by $40,000

                  4) Paid off car #1 (and started a side account to replace it)

                  5) Joined the prestigious "Hundred-thousandaires" club - brought net worth from Negative $70,000 to over $200,000

                  6) Didn't do anything terribly stupid financially!

                  Thanks to this community/WCI/POF for the education/place to help ensure I keep an intentional focus on our finances!

                  Comment


                  • #10




                    congrats on the loans, now on to the 2 comma club!
                    Click to expand...


                    Thanks for the congratulations.

                    If I went from $100k to $1M net worth by next November, that would be quite the year.

                    I'll tag you in an update if that happens.

                    Comment


                    • #11
                      Great job everyone!!

                       


                      6) Didn’t do anything terribly stupid financially!
                      Click to expand...


                      Sometimes, that's all you can ask for.

                      Comment


                      • #12
                        1) Bought another property in Jan 2017

                        2) Net worth hit $1M.

                        3) Invested in my first two large apartment syndications

                        4) Net passive cash flow from real estate hit $3000 per month.

                        5) Renting a place in a high cost of living at less than 10% of my monthly income

                        6) At least one new country visited each year (only 1 so far for 2017)

                        7) Savings rate went from <10% in residency to 50% as a staff

                        8) Contributed to the TSP and funded a Roth IRA this year (for the first time since 2014), transferred taxable stash from my bank with his ER to Vanguard

                        9) >$100K in real estate appreciation

                        10) On track to read 30+ books this year

                         

                        Congrats everyone!

                        Comment


                        • #13
                          Not written goals. I would say achievements:

                          1. Salary raise / ownership contract signed (succession planning).
                          2. Contributed up to employer match on retirement accounts.
                          3. Overall debt lower - (student loans refi for spouse & me in 2016. 2017 was following that plan).
                          4. Added several locums weekends, additional revenue source.
                          5. Set up HSA for spouse through her employer.


                          Thanks for the thread.
                          Helps me create more formal 2018 goals

                          Comment


                          • #14
                            1) maxed out 401k, Roth IRA x 2
                            2) fully funded a HSA
                            3) opened a taxable account
                            4) opened a 529
                            5) decreased student loan principal by 170k
                            6) welcomed baby #2

                            Comment


                            • #15
                              This is so encouraging for a resident to see you all doing great things! I maxed out a Roth for the first time as a PGY-3. I started to accumulate credit card rewards for interview season for fellowships. I refinanced my loans, I paid down 9k of principle, I contributed 8% to my 403b per month and I stopped paying for conferences (started letting my department do that). Net worth still in the negative six digits, though! Goal for 2022: be broke. XD

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