Asset Allocation – If you are young why wouldn’t you be 100% stocks?

Asset Allocation – If you are young why wouldn’t you be 100% stocks?

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I know I have had a few people comment on some of my posts that I’m too heavily weighted towards stocks (100%) and it’s sort of common knowledge that when laying out your asset allocation in your portfolio that it is a mixture of stocks and bonds. Even most lifestyle funds for the most risky aggressive young punk classification have some money in bonds. For some reason I can’t get it through my thick skull why someone would put any money in a historically lower performing investment tool for money that won’t be touched for 30 or more years.

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Retirement NestEgg Report – January 2007

Retirement NestEgg Report – January 2007

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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%)

Festival of Frugality #59

Festival of Frugality #59

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The Festival of Frugality #59 is up at  Thetaoofmakingmoney.  I always find the festival of frugality to be full of great new ideas on how to save money and this one is no different.  Golbguru did an excellent job of hosting and organizing the carnival into distinct categories.  As usual the carnival is huge and for those of you that haven’t had the opportunity to host a carnival yet, it really is a lot of work.  Anyway my article is down in the car section, go check it out!!

My first day at new job

My first day at new job

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Well today is my first day at my new employer. It was easy finding jobs, but is was difficult deciding which job was the best for me (as you can tell if you’ve followed my blog this month). Anyway today is a new start for me and hopefully puts me a couple steps closer to meeting my financial goals and needs. In fact in the near future I’m probably going to have to revisit my original financial goals as I’m afraid it’s just going to be too easy for me to reach my current set of goals due to the fact that I’m making more money now and well will be stuck contributing to a traditional 401k instead of a Roth 401k so I’ll be contributing a lot more principal now and won’t necessarily be better off for it.

Regardless I think today is a good day for me and hopefully a couple years down the road I’ll look back on this and decide a I made a wise decision.

My Financial Journey’s pimp ride

My Financial Journey’s pimp ride

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Well if there was one thing and one thing only that I could recommend to people really looking for ways to save money to get out of debt or save some extra money for retirement it would be don’t ever buy a new car. In fact I would go one step further and say spend as little money as possible on your cars.

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An unexpected $4000+ for a couple emails

An unexpected $4000+ for a couple emails

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Well today was a pretty good day for me.  In the span of a few hours I found out that I’d be receiving about $4,000 total that I never expected to receive.  The first windfall came when I went out to lunch with a local IT recruiter who I had worked with during my job hunt, but actually ended up turning down the job offers I got through her.  What I did do though was email her the names of a couple guys I worked with who might be interested in the jobs I turned down.  Well turns out that they both took jobs through her company.  …

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