2016 Recap

So I shared earlier that I met my major goal of paying off $20,000 in student loan principal this year.  But I’ve some more financial progress outside of my student loan(s).


Vested/Total December 2015: $19,610/$26,992.52

Vested/Total December 2016: $41,865/$48,126

Each year at the end of December, I become vested in more of my company’s matching and general retirement contributions (until I’ve been there five years total and become fully vested), though a portion of their contributions were fully vested after 2 years.  I don’t include my 401k or my IRA in my net worth calculation, partially because there’s no way for me to only include the vested portion in Mint, as far as I can tell, and I’d rather be conservative.

Roth IRA

December, 2015: $2,843

December, 2016: $5,101

* I have not been contributing as much to my IRA this year.  I used to contribute $100 most paychecks.  Since the little man was born, I’ve split this so that $50 gets direct deposited into his 529 plan, and $50 goes to the checking account that I make transfers into my IRA from.


Balance December 2015: ?

Balance December 2016: ($172,973)

I checked last year’s post, and it said that we’d paid off $3,085 in principal last year.  I can’t figure out how to access my old mortgage login, but based on last year’s number, I’d estimate about $1,500 was paid off on the old loan, and since the refinance in July we’ve paid off another $2,026 in principal. The lower interest rate is hugely helpful here.  


Progress is nil — or worse, negative.  But the two main reasons for this were closing costs to do the refinance (well worth it) and extra payments on my loan (also worth it).  I look forward to the year that I make progress in my personal savings account, but for now I’ll have to be happy with making significant progress on my student loans.


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