End of Year Net Worth

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  • Avatar OlyFizz 
    Status: Physician
    Posts: 26
    Joined: 01/03/2018

    I’ve been lurking but will post for accountability.

    I am 3.5 years out of residency (graduated 2014), employed PM&R doctor. My spouse stays home with our kids.

    didn’t start tracking NW until July 2015; at that point it was -146,131.

    as far as debt, I started with about $190k in school loans for me, $36k for spouse, and we bought a house immediately out of residency (I hate moving and the market where we are is very strong, so this has proved to be a good choice).  We have one car loan but otherwise don’t carry consumer debt.

    12/2015: -103,546

    12/2016: 61,261

    12/2017: 225,547

    still have 136K in student loans; my home loan is 2 years out of a 15 year refinance down at 2.875% so I’m not paying that off early. I maxed out the 403B and 457 last 2 years and get a 3% match from my employer in a 401a. Also did max contribution to our HSA this year, so overall I save $42000 pre-tax into retirement funds. I also save $1000 a month into taxable accounts as well as sinking funds for things like roof replacement down the line/ home repairs.

    now I am starting to slowly fund 529 accounts for our two kids, and plan on doing the backdoor Roth this year.

    my goal is to increase NW by another $150000 plus this year on $250000 (approximately) gross earnings.

    Avatar kingsnake 
    Status: Physician
    Posts: 70
    Joined: 01/04/2017

    Up over 1 million dollars since I posted almost a year ago on page 5 of this thread. Gotta love a good bull run.

    Avatar ReedCA 
    Status: Resident
    Posts: 2
    Joined: 01/08/2016

    PGY-4 resident in the midwest. Wife is a pharmacist. Tracking since 2015 and using purchase price of home in the calculation, although I’m sure there has been some appreciation (current “Zestimate” is +$69,531 above purchase price, that’s probably a little high).

    12/2015: -191,637

    8/2016: -167,760

    12/2017: -121,504

    Glad I decided to post, I’m more impressed seeing it here than in my spreadsheet. I’ll take a $70K swing in the right direction over the last two years. That’s about 50/50 debt pay down and investment. Projections have us hitting zero shortly after finishing fellowship in 2020.

    #95213 Reply
    Avatar East coast 
    Status: Other Professional
    Posts: 117
    Joined: 03/06/2016

    Inspired by this thread, did a back of the napkin calculation and realized that between spouse and I, we’re at or just about to surpass a $0 net worth! Probably wouldnt have done the calculation unless I saw this thread, so thanks for the inspiration! Woohoo! Still carrying over $200k in student loans, but we’ve prioritized tax advantaged accounts. Spouse is still a resident so haven’t even gotten our full earning power up – counting down the days.

    Avatar Anesthesia84 
    Status: Physician
    Posts: 94
    Joined: 12/16/2016

    I like seeing everyone’s updates! It’s so nice to have a community where these accomplishments are celebrated instead of the purchase of a new expensive watch, etc 😉

    #95269 Reply
    NaOH NaOH 
    Status: Pharmacist, Spouse
    Posts: 120
    Joined: 01/09/2016


    "Don't fear failure - not failure, but low aim, is the crime.
    In great attempts it is glorious even to fail."

    #95342 Reply
    Avatar RDB 
    Status: Dentist
    Posts: 131
    Joined: 01/08/2016

    First time calculating: 780k
    We should be adding about 200k per year to that. We are 32 and 31 yo. We started out making some mistakes but have things in pretty good order now. We are very fortunate to have found WCI, bogleheads and more recently PoF as our income has grown significantly. I cringe to think of the magnitude of our mistakes if we had our current income and did not find you guys.

    #95354 Reply
    Liked by RocDoc
    Avatar 1inDebt 
    Status: Resident, Dentist
    Posts: 9
    Joined: 11/11/2017

    -500k. Still in residency. Venturing further into the rabbit hole as I’m still taking loans for tuition, equipment, and living expenses.

    Consider this post a breadcrumb!

    #95362 Reply
    Avatar hightower 
    Status: Physician
    Posts: 1498
    Joined: 12/07/2016

    I’ve not really paid much attention to tracking actual net worth (much more focused on debt reduction), but from what I can see, our numbers for 2017 appear to be the following:

    Net worth as of 1/1/2018: $498,592 (so close!)

    Total debt reduction in 2017: -$74,677

    Academic pathologist + hospital pharmacist, 3.5 and 2.5 years out of training respectively. A big chunk of our net worth is due to my wife having learned good financial lessons from her parents and contributing to an IRA since she started working at age 16, as well as consistently maxing out her 403(b) during training.

    We are now pretty confident that the remaining balance on my loans, around $57k, will go away in 2018. Exciting times!



    Click to expand…

    Impressive.  Your wife is fortunate to have been taught good habits by her parents.  Putting money away that early and letting it compound is like winning the lottery later in life.  Good job on the debt payments!

    #95380 Reply
    Liked by hatton1, NaOH
    Avatar StarTrekDoc 
    Status: Physician
    Posts: 2124
    Joined: 01/15/2017

    Zillow tends to overestimate. Interesting how that swings dramatically on the smart property. Probably low comps to reference.

    Thing is, net worth is what total assets at market price, which includes home and using some automation…not purchase price. You don’t use that for buy price of sticks right?

    Same for primary residence. One may be house rich, cash poor, but all the same if one equidates in full or estate sale…

    Personal capital does a pretty neat job at this. Started using this last month after decades on quicken

    #95410 Reply
    Liked by hatton1
    Avatar nfldoc 
    Status: Physician
    Posts: 7
    Joined: 06/25/2016

    About $2.2 million — two physicians 4.5 yr out from fellowships.

    #95415 Reply
    Liked by childay, RocDoc
    Avatar Overlap12 
    Status: Accountant
    Posts: 14
    Joined: 04/01/2017

    Similar to the OP, I started tracking my net worth changes in Google Sheets since I lost a lot of history in Mint after deleting accounts.  These last 3 years represent the first 3 years of my wife’s attending job.  They mirror pretty closely other similar high income, married with 2 kid couples.  We didn’t live like residents out of residency.  We in fact maxed out on buying a new construction home immediately (5% down), although I had been working for 8 years throughout my wife’s education and training periods.  I attribute our success to keeping our expenses reasonable, even while our income has gone up. although we spend on the things that matter most to us.  For us, that is wine and our house.



    #95527 Reply
    Liked by RocDoc
    Avatar littlefish 
    Status: Physician
    Posts: 34
    Joined: 06/24/2017

    2 years post fellowship:

    almost debt free

    #95533 Reply
    Liked by NaOH
    Avatar Chuck1 
    Status: Resident
    Posts: 13
    Joined: 02/02/2017

    2017 -$430,877

    Finishing residency this Spring and looking forward to that number starting to go in the right direction.

    #95561 Reply
    Avatar Bmac 
    Status: Physician
    Posts: 318
    Joined: 10/21/2017

    The demographics of WCI Forum participants must skew very young or us older (over 50) folks choose not to divulge such information. Perhaps because our net worth numbers are either embarrassingly high or embarrassingly low…

    #95599 Reply
    Liked by G, Neuro-doc, hatton1

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