Posts
Hi Everyone!
It’s been so long since I last posted. This year has gone by in a
flash and has been such a bitter/sweet year. Just wanted to provide a brief
update on the state of affairs for anyone still following.
I am doing really well and actually just got promoted again at
the Bank. I will become one of the Regional Directors in January and I am super
excited about the opportunity.
Despite the pandemic this year, I received a 22% bonus and
stock award. My total annual compensation this year was approximately $185k. I should
surpass the $200k mark next year as I move into a higher bonus target with stock paying out over the next 3 years. Very blessed.
I moved back to my condo in October of last year and almost
completely renovated. I just have to do the bathrooms. I am staying put for now.
Some good things happened this year. I grew my liquidity, fully maxed out my
retirement and refinanced the condo into a 15-year mortgage at 2.65%. The
payment increased less than $100 and the condo is back in the black with a value of $142k (post renovation). Overall, I was able to grow my net worth by
$155k this year. And, my net worth has grown almost $713k since moving home to my parent’s house for 5 years in late 2014.
That was a super blessing. I actually miss being over at the house with them
but they’re in my bubble so I see them often.
Below is a breakdown of the 6-year journey. Things are no longer tight and I feel like I have a good amount of discretionary income. I max out my 401k and aim to save at least another $20k per year outside of retirement. Most of that comes from the YE bonus and stock payout which was $30M this year after taxes. Coming from living paycheck to paycheck 6 years ago, I feel very fortunate every day. I still keep meticulous track of everything on spreadsheets. It's just pretty engrained at this point.
Wishing you and your families a Happy Holiday and a better, more positive, more safe and more fruitful 2021!!!
