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  • #31
    Originally posted by Nysoz View Post
    I thought this was a fun exercise and I liked looking back on my last year's plan for this year to see how things match up. Link to last year's thread to see if you posted and see how well you did with your plans.

    https://forum.whitecoatinvestor.com/...and-2021-plans

    Net worth progression (calculated on the first of every month):
    Dec 2020 - $2.4M
    March 2021 - $2.96M
    June 2021 - $3.31M
    Sept 2021 - $4.53M
    Dec 2021 - $6.12M (I'm probably closer to $5M now with the recent TSLA pullback and I'm not sure how much I'll pay in taxes as I'm always trying to find ways to defer realization to next year)

    Last year I was fortunate and lucky to hit my FI goal 7 years earlier than I thought I would. My goal for this year was to make progress towards fatFIRE and through risk/leverage and more luck, I sped towards that goal pretty quickly. I continued my options selling/investing strategy and so far it's still going well. My biggest change in my portfolio from last year's allocation was to simplify things. Instead of having a variety of stocks representing sectors, I decided to simplify things by slowly allocating towards 50% TSLA/50% QQQ/TQQQ.

    Even though I liked my job and could see myself living and working in a rural area for the near future, my wife reached her breaking point and couldn't stay there any longer. Reaching my FI target early in the year, it gave us options. So I told my employer our plans to leave and worked out part time coverage as a bridge for income security while we figure out what to do next. While winding down at work, the options selling income continued to do well and now it seems like I won't need to return to work after this year of part time coverage. During the GME madness I did overextend my account and did get margin called due to changing requirements which was fun (... not). However, it was a valuable lesson about managing buying power, risk, and leverage.

    We moved closer to family and now she's much happier (and therefore I'm much happier). She's now working at the local hospital for our health insurance and to give her a routine of some sort. I'm still providing part time call coverage for my old job 1 week a month and I'll likely fully step away from practice after this year. Otherwise I continue to sell my options and 'day trade' so I can meet trader tax status for deductions and take multiple breaks through the day to walk our dog.

    Goals for 2022. I hit my fatFI number much quicker than I thought I would and hope it continues going forward. I enjoy watching CNBC along with various people on YouTube, following Tesla news, and coming up with various options strategies so I plan on continuing to trade for fun and to see how far I can get. My trading activity allows me probable tax deductions which I'll run through my CPA. Then I'll look into forming an LLC taxed as an S Corp to see if it's worth it for me. Otherwise, hopefully we'll be able to feel more comfortable travelling soon and start visiting all our bucket list destinations!
    you increased your net worth by 2.5-3million in one year??
    how is anyone not talking about this more?

    very impressive. Great work.

    I’ll wait to post my progression in early Jan

    Comment


    • #32
      Originally posted by WorkforFIRE View Post

      you increased your net worth by 2.5-3million in one year??
      how is anyone not talking about this more?

      very impressive. Great work.

      I’ll wait to post my progression in early Jan
      TSLA

      Comment


      • #33
        Originally posted by WorkforFIRE View Post

        you increased your net worth by 2.5-3million in one year??
        how is anyone not talking about this more?

        very impressive. Great work.

        I’ll wait to post my progression in early Jan
        Yeah I take some unneeded risk and leverage. It’s great on the way up, less fun on the way down.

        I’ve made posts about the idea behind my strategy, selling options and how I utilize margin. More than happy to answer any questions on those respective posts to not clutter up this one. I always caution it’s something a physician doesn’t need to do but it’s fun to learn about (at least to me).

        Takes a fair amount of time and monitoring depending on the strategy and way more risk than most people need/care to take.

        Comment


        • #34
          Originally posted by CordMcNally View Post

          He started a Christian Healthcare Sharing Ministry and he accepts premium money and then denies all claims.
          this was an actual LOL for me.


          year in review:

          >$100k dropped into retirement
          net worth increased by more than our gross income
          growth of portfolio was 4X what we put in
          clearly on track to meet all long term financial goals
          if anything we might pull back from savings in 2022 and spend a little more
          wife is going to trial going from 0.8 FTE to 0.7

          Comment


          • #35
            Originally posted by Nysoz View Post

            Yeah I take some unneeded risk and leverage. It’s great on the way up, less fun on the way down.

            I’ve made posts about the idea behind my strategy, selling options and how I utilize margin. More than happy to answer any questions on those respective posts to not clutter up this one. I always caution it’s something a physician doesn’t need to do but it’s fun to learn about (at least to me).

            Takes a fair amount of time and monitoring depending on the strategy and way more risk than most people need/care to take.
            Your a gunslinger.

            I am boring but happy.

            2021: been a decent year.

            - started working less (part time)

            - net worth increased nicely (bull market)

            - side hustle income slightly increased (small bus)

            - used small bus to start paying for health insurance

            - Formed s-corp [LLC taxed as s-corp],

            - solo 401k, BD Roth, HSA.


            2022:

            1. save cash bucket for RE in next few years (SORR antidote = cash, 3-5 years of spending) Goal = 300-500k. (180k now)

            2. same normal things: max out 401k, HSA, backdoor Roth.

            3. Learn more about taxes & tax optimization

            4. plan to do ROTH conversions if income for year is lower due to doing less clinical work but will also depend on opportunities (market drops) and overall income for year from clinical work + side hustle work

            5. Exercise every day. eat less & better. lose 15 pounds slowly.
            (identical twin brother = surgeon, runs 5-7 miles almost every day and is down to weighing less than we did in high-school….he is making me look bad)

            6. Fish, garden, time with friends/family, hike, travel. Spend at least 30min outside each day regardless of weather.

            I keep saying it (since 2016 been waiting for it) but we are “due” for a market correction = long market downturn lasting longer than a few weeks/months.

            I am not market timing exactly but If 2022 is a bear I will not be astonished.

            Anticipation of Roth conversion opportunities as well as TLH opportunities next year…….but, I am usually wrong and if the bull madness continues I will keep watching it grow.
            Last edited by Tangler; 12-19-2021, 05:51 AM.

            Comment


            • #36
              Originally posted by MPMD View Post

              this was an actual LOL for me.


              year in review:

              >$100k dropped into retirement
              net worth increased by more than our gross income
              growth of portfolio was 4X what we put in
              clearly on track to meet all long term financial goals
              if anything we might pull back from savings in 2022 and spend a little more
              wife is going to trial going from 0.8 FTE to 0.7
              Yeah, you are crushing it.

              This market, the last 10 -12 years……..wow.

              Wonder if/when the wheels will fall off, or perhaps it will just keep going?

              Comment


              • #37
                Originally posted by White.Beard.Doc View Post
                2021
                The positive: Skied Taos, Park City, and 2 separate weeks at Arapaho Basin.
                The negative: Nozawa Onsen, Japan and Chugach, Alaska both cancelled due to Covid related issues.
                More positive:
                Trip to Egypt.
                Real estate related investments with bonus depreciation will shelter all income from federal tax for 2021.
                Net worth increased by healthy 7-figure amount.

                2022
                Looking to ski Chugach, Alaska, Hintertux, Austria, Jackson Hole and Taos, plus maybe Telluride.
                Planning trip to New Zealand.
                Considering real estate related strategy for 2022, and not sure about further investments given current pricing, but the bonus depreciation at 100% starts to go down as of 2023.
                I guess I should add that my 8 figure portfolio increased > 1 million this year and has every year since I retired. This is despite me drawing it down. Despite no options or real estate. How long the party lasts is anyone's guess.

                Comment


                • #38
                  Originally posted by TheDangerZone View Post
                  Context: early 30s, married (spouse works part time) with two young kids. Finished training in 2018. NW at that time was -175k.

                  2020 goal: Save 40% of gross. Ended up saving about 45%.

                  2021 goal: Save 50%. May be harder to do if we decide to put more towards the mortgage. We have about 11 years left at 3.3%.

                  NW will hopefully hit two commas by the end of January barring large stock market shenanigans, which are certainly within the realms of possibility.
                  2021 update: We did end up hitting 1MM NW in January 2021 and put away ~60%, primarily because my clinical income grew a good bit but our expenses did not. We hit a seven figure combined income this year which I did not expect. We seem to live very comfortably at our current level of spending. I do try and give back to my support team as well with holiday bonuses. We are all W2 employees but some of these people routinely go the extra mile for me and are integral to my success.

                  2022 goals: Continue saving 50-60% of gross. Hopeful to hit 2MM NW by January 2022. We also made a 5 year bucket list of things to do while we are still "young." Will be checking a few of those off in 2022. FI number is maybe 3 years away depending on market returns. I would like to slow down some after that. Cheers and good health to all this coming year.

                  Comment


                  • #39
                    Originally posted by MPMD View Post

                    this was an actual LOL for me.


                    year in review:

                    >$100k dropped into retirement
                    net worth increased by more than our gross income
                    growth of portfolio was 4X what we put in
                    clearly on track to meet all long term financial goals
                    if anything we might pull back from savings in 2022 and spend a little more
                    wife is going to trial going from 0.8 FTE to 0.7
                    Just a note: You will obviously keep crushing it since you have a couple of big shovels. Very very well played.
                    Many in other threads ask when you know the time. Once you go through a down market and your NW stays even or then increases, you have a much stronger opinion of your financial base. You will be there if you are not close already. The only thing missing is a downturn and your life plan. With kids, the life plan is a "would you rather" than "we need to".
                    Sooooo impressed with how well you executed your plan. Enjoy.

                    Comment


                    • #40
                      Originally posted by TheDangerZone View Post

                      2021 update: We did end up hitting 1MM NW in January 2021 and put away ~60%, primarily because my clinical income grew a good bit but our expenses did not. We hit a seven figure combined income this year which I did not expect. We seem to live very comfortably at our current level of spending. I do try and give back to my support team as well with holiday bonuses. We are all W2 employees but some of these people routinely go the extra mile for me and are integral to my success.

                      2022 goals: Continue saving 50-60% of gross. Hopeful to hit 2MM NW by January 2022. We also made a 5 year bucket list of things to do while we are still "young." Will be checking a few of those off in 2022. FI number is maybe 3 years away depending on market returns. I would like to slow down some after that. Cheers and good health to all this coming year.
                      Over $1M income, federal taxes with standard deductions are around 30% effective. If you’re saving 60% gross and living on 10% gross (or less than that if you’re paying any state income tax) then that’s amazing, and you’ll be FI in no time.

                      Comment


                      • #41
                        Retired from clinical medicine 3 years ago. Still do some consulting part time.

                        2021 Pretty much lived on rents and consulting income. Portfolio grew, RE strong increase in value and rents, nice 7 figure increase in NW
                        Got vaxxed and hoped to travel more. Did travel some, but much less than I would have otherwise
                        Fortunate to live in a resort area already, so skiing, hiking, mtn and road biking right out my backdoor
                        Exercised daily, upgraded our home gym

                        2022 Will still live on rents and some consulting income
                        World events will probably have a greater effect on NW than any actions I might take
                        Have some travel on the books, we'll see if it will happen
                        May add E-mtn bike to bike quiver, the climbs on my local trail were hard even ten years ago
                        May add RV for more travel options if supply chains allow
                        Will count my blessings and give thanks for what I have

                        Comment


                        • #42
                          2021 - Year two of covid consumption -
                          -Expanded Tesla family,
                          -New home built and occupied with subsequent jump of mortgage along with home value. This the highest level of liability we've held since primary house mortgage now 695k against 2.75M value.
                          -launched the youngest to college and
                          -restarted travel and Disney trips.

                          -Continued a conservative equity profile stance despite 10 years to retirement as passed FI and projected into FatFI with reduced savings. NW velocity faster than prior years -- 7.2M>8.8M which reflects the RE overperformance portion of the portfolio

                          2022 - hoping MBDR remains (looks like it thanks Manchin!).
                          -Continue to ramp spending back into travel as home furnishing is completed (pool and lanscape money pits)

                          Comment


                          • #43
                            2021: Started the year around 2-2.5M in assets, after paying taxes from last year. Thanks to bull market, made ~50% gain in retirement and taxable accounts. Made ~1.7M in crypto (almost all from shitcoins/altcoins), but will have to pay STCG for lot of that next year. Near end of summer, decided to improve other aspects of my life, and went on strict diet/fitness regimen, lost 30lbs in 3 months, was able to stop medication I was taking. Health, wealth, & family/friends.

                            2022: I'm back to Boglehead portfolio now 80/20 mostly. No more speculating/trading, & enjoy the rest of my 30s while I still can. Technically Fire now, but still like my job, plus need a few years to vest equity. Continue maintaining new diet/weight, and hopefully make progress on weight resistance and tennis game. Travel more in spring/summer if things settle down. Continue reading 3-4 books/month. Current assets: ~5M before taxman (not including private stock, which will be either worthless or IPO in the future).

                            Comment


                            • #44
                              These threads are depressing when you are -500k NW.

                              Comment


                              • #45
                                Originally posted by Craigslist View Post
                                These threads are depressing when you are -500k NW.
                                Remember this....many of us were there too. - had 180k debt when started residency back in 1996 (320K in today's dollars).

                                'Chin up now, pip pip' Disney -- https://www.youtube.com/watch?v=p6xIMEEOcK8
                                Last edited by StarTrekDoc; 12-19-2021, 01:16 PM.

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