November Total Income:
November has been our lowest income month by far. We took a lot of time off in October and early November for vacation and family time so I didn’t work much resulting in a lower November paycheck. HYSA is now down to 3.6% yield, just a year ago, they were over 5%. I mainly keep this account as a cash reserve and to also save up for my tax payments.
Expenses
Had several extra large payments this month. Yearly property tax was due and then larger than normal credit card bills due to our recent vacation and birthday party for my son. I used some of our cash savings to our property tax so didn’t come from our income this month.
Investments
November was a volatile month for the market, it dropped quite a bit but then had a decent recovery into the end of month. I own a fair amount of crypto and with bitcoin dropping below 100k, this dropped my accounts for the year.
I received my final tax planning numbers for my 401k and DB plan for the year and contributed the final amounts to those accounts. I don’t know if I will ever save so much money in a single year, it was a combination of different factors between inheritance, continued high income and no major expenses allowing us to save so much. I am planning to work less clinically next year as our finances continue to improve so saving this much next year is unlikely.
Investment Accounts:
First month this year where my net worth dropped, again mainly due to the crypto pullback. I continue to HODL and hope we have a solid recovery into the end of the year.
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