Interim Retirement Nestegg Report – I broke $300,000

Interim Retirement Nestegg Report – I broke $300,000

Taxable Account – $2,022.45
Traditional Rollover IRA – $21,071.82
My Roth IRA – $80,604.97
Wife Roth IRA – $46,118.18 149,817.42
Traditional 401k – $152,115.57

Total Retirement Nestegg – $301,932.99

Well seems like it wasn’t that long ago when I broke $200,000 and well it wasn’t. Just 16.5 months ago I broke the $200k barrier and 28 months before that I broke the $100k barrier and 5 years before that I got started investing. This is a pretty vivid example of the power of compound interest. The ball is rolling and most of the heavy lifting was done on my part by setting that initial goal to have contributed $100k to my retirement accounts by the time I reached age 30. It is also worth noting that in only 8 trading days this month my nestegg grew by over $15k.

Now even though I have been slacking by my standards as far as contributing more money to my retirement accounts – it really doesn’t matter as much as it used to and like I always said I can just sit back and watch and turn the spigot to other plans/goals (house savings, kids college, etc) and really I have been able to exactly that and really not miss a beat. Funny I am only 33 but 30 seems like such a long time ago 🙂

Also from a performance comparison its neat to see the various milestones compared to an index at the time.

Date DOW Jones Value MFJ Nestegg
Oct 2008 10,000 $ 69,300
Oct 2009 10,000 (+0%) $100,000 (+44%)
Feb 2012 13,000 (+30%) $200,000 (+100%)
Jul 2013 15,423 (+19%) $300,000 (+50%)

In other milestone related news I am celebrating my 10 year wedding anniversary today. I’ve been blessed with a beautiful caring wife and four great little kids over the last 10 years and I’ve got to say I don’t think things could have turned out any better for me and I am truly grateful for all I have been blessed with. The financial stuff is great, but in the end it means nothing without my family.

I hope to see you again shortly (12 months at this pace?) for my interim $400k post.

  • Nick

    Congrats MFJ – I have been following your blog for a number of years and cannot believe how you started from basically scratch a few years ago and now have over $300,000 in investments.

    It just goes to show you that those with large net worths didn’t just get rich or lucky – it was a lot of hard work over a number of years that turns into something pretty amazing over time.

    Congrats and keep up the good work. I look forward to you breaking $1 million and beyond.


  • MDW

    MFJ – you are doing great man! What a fun read. You and I have very similar stories. I am 27, my wife 25, daughter is 3 weeks old, and much like you, have the 100K by 30 goal. I’m confident we will meet that goal, but what I wanted to ask you is your thoughts on saving for college? Right now, its difficult for me to think of shifting funds away from retirement and into college, but I like the idea of saving aggressively for 10 years, 8K-10K a year (if possible), and have a fully funded college fund for 2/3 kids by the time they are 10 years old and before they get really, really expensive :). You know better than anyone that allowing 80-100K to grow for 8 years (time of first graduation), should blossom to 130-150K. I’ll quit blabbing, I was curious on your approach and view?

  • MFJ

    Hi MDW –

    Sorry for the super slow reply, but my thought on college savings is that it in no way should affect your retirement savings. Save now as each dollar will be compounded over a long time and be worth a lot in future dollars. As long as you are used to saving a portion of your income for retirement, when it comes to college down the road if you can always just change where that spigot is pointing and they can always get grants, scholarships, and part-time jobs. I’d just put your money towards something that has a longer compounding period (your retirement).

    I do save for my kids college education in 529 plans but it is very minimal.

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