February Total Income:
Busy month of work and shifts. My telemedicine gig is going really well and I’m making good money from it. Hope that can continue because its allowing me to drop some of my clinical shifts. But as I know from experience, a lot of the telemed gigs can go belly up quick so I’m not putting all my eggs in one basket at this time.
Expenses
So the major news this month, I paid off my student loans!!!! How? I won big on a single stock. Back in 2021, I bought Palantir (PLTR) stock. Honestly, I was just watching CNBC one day and heard about the stock. I bought it in the mid 20s, watched it drop all the way down to $7 and I slowly bought to average down over the last few years. Well, it went crazy in the last year and I ended up selling it at $122 at nearly at 700% gain and sold it for $83k.
I always kept holding it because I said the extra cash won’t change my life but once it got large enough to nearly pay off my loans and was clearly overhyped/overvalued, I figured it was time. I actually timed it almost perfectly to sell as the stock dumped the next week. A lot of people told me not to do it as my rate was super low, but honestly having the freedom of not paying those huge monthly payments anymore was worth it.
Investments
Hard to see this chart, the market took a dump toward the end of the month with all the crazy pollical stuff going on right now. This coincided with me pulling 83k out of my taxable account from my PLTR stock to pay off my student loans.
I fully funded my DB plan and have started contributing to my 401k. We continue to invest regardless of market conditions. Just keep buying.
Investment Accounts:
Despite our huge debt payoff, we are still down a bit with the market drop. We continue the grind.
My Financial Goals for 2024
- Hit $2 Million in investments. Now seems far away with the market drop and pulling money out to pay my debt, but time will tell!
- DONE- PAID OFF IN FEBURARY!!!! Pay off remaining student loans. I start the year with ~$95k left in student loans refinanced to 1.1%. I know mathematically it makes zero sense, but I only have two years left on them regardless. I plan to fully fund my retirement accounts in the first quarter of 2025 and then have them gone by midway through the year.
- Work less? I said that last year, didn’t happen.
-AMJ