September Total Income:
September was my last month working “full time” in emergency medicine. I am still planning to work about half time (IE: around 8 shifts a month) in the emergency department and then will be supplementing with some telemedicine work. This will likely drop my income a bit, but I think we are in a financial place that I can start doing that. It gets me out of night shifts by working part time/PRN, at least for now. As long as I can keep my telemed income going, I should be good to continue.
Expenses
Big spend month for us, our son’s yearly tuition was due, several home and boat maintenance items/issues. Additionally, I paid for my yearly tax planning/CPA fee for my 1099/S-corp. Next month, we will have our property tax due so still have lots of big money items on the list for the year.
Investments
September was another solid month in the market. SP500 gained 3.5% and we remain fully invested. I also received a $70k inheritance check that I added to our HYSA, this will mainly be used to pay our end of year tax bills.
The only additional investment contribution we made this month was adding 10k to our son’s 529. I have a goal to invest $180k (10k for 18 years) and I have the extra cash right now so I added on another 10k ($20k for the year). Any extra cash we kept in our HYSA.
Investment Accounts:
A net gain of $212,970 for the month. Once you build that nest egg (which I feel like is really the first million), the power of compound interest starts to hit.
My Financial Goals for 2025
- Hit $2 Million in investments. DONE
- 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? DONE October begins my transition to hybrid EM and telemed work. I’ll likely see a drop in my income, but I am ok with that.
-AMJ