Retirement NestEgg Report – January 2007

Retirement NestEgg Report – January 2007

Well it was another good month for my retirment nestegg. Gained over 4.5% and am inching closer to the $50,000 mark. It’s amazing how fast my nestegg continues to grow as just last December it was only at $24k and hopefully in two years time it will be close to $100k. Just goes to show you that if you stick to a plan of continually contributing to your retirement accounts it starts adding up. I mean when I started saving and investing I thought it would take decades for me to reach six figures and everytime I saw a blogger who had a net worth or retirement account that was over $100,000 I always thought wow that guy must make a lot of money to be able to save that much money. Turns out you don’t need to make that much money, those guys were probably just a couple years ahead of me and had the same rigorous saving mentality. Anywho here is where I stand as of today.

My Roth IRA – $11,366.56 (-0.30%)
Wife Roth IRA – $14,223.81 (+9.56%)
Traditional 401K – $11,933.34 (+2.00%)
Roth 401K – $11,406.00 (+6.27%)

Total Retirement Nest Egg $48,929.71 (+4.52%)

  • How do you calculate what you are contributing? I feel sort of stuck because we’re just starting out and I know we’re doing the best we can.

    But what if contribution limits stop us from hitting our goals? Any advice?

  • My Financial Journey

    I’m not exactly sure I understand your question. As far as what I contribute I originally came up with a goal that I wanted to meet ($100k in principal by age 30). I then backed down to what it would take to reach that goal. Whenever I come across more money (raise, unexpected windfall) I always try to take at least a portion of that to help increase my contribution percentage.

    Not sure how contribution limits could stop you from hitting your goals….can you elaborate more?

  • Jed-99aggie

    My Financial Journey,

    Kudos to you for putting together this site. I agree with your Jan 2007 summary post, disciplined investing yields notable growth. I will turn 30 later this year. I am happy to note that my wife and I have successfully achieved our financial goals to this milestone. Now we have revised upward our financial plan for the next hurdle.

    One resource that I have found helpful is: http://assetbuilder.com/ there is a wealth of info on this site, including a comparison of wealth by age category – http://assetbuilder.com/?p=88 What this says is if you reach your goal of $100K before turning 30 you will be in the top 10% of net worth for your 20-something age category. It is an inspiring fact to keep the focus on continued savings.

    Good Luck!

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