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$100k in Retirement!

April 3rd, 2024 at 05:20 pm

We have finally crossed the $100,000 milestone in our 401k and Roth IRAs!

Maybe not much to some, but it seems like a big accomplishment to us. Hopefully, it will continue to compound and build even faster from here on out. In January 2019 we only had $30k so we have increased it quite a bit in the last 5 years.  



Made a 401K Mistake

November 30th, 2023 at 02:54 pm

From what I understood my husband's work would 100% match the first 1% you contributed and then 50% match up to 5%. But going through our retirement accounts yesterday for the end of the month I noticed that it said 50% up to an additional 5% contribution. So a total of 6% to get all the employer matching. Ugh!


That means we have been missing out on free money all this time. I am wondering if they didn't change it at the last union contract because I originally thought it was 100% up to 3% and then 50% up to 5%. But who knows. I immediately upped our contribution to get the max matching. They also contribute an additional 2.5%-ish in a lump in Decemeber. So we will be up to 12% in his Roth 401K a year plus we put 5% in my Roth IRA.  

17% isn't great but isn't terrible. Thankfully we have time on our side and everything is Roth so tax free in the future. 

Retirement Savings & Secondary Income

January 26th, 2018 at 04:16 pm

Husband's work finally has the profit sharing switched over to a Vanguard 401k. Hallelujah. We can now see that we have $12,900 in the account. He is currently contributing 3% and they are matching.

We also have $13,787 in our Roth IRAs. I don't think that is too bad considering we only make about $43k a year and have only been saving for retirement for about 4 years.

We have a total of $26,687 saved for retirement, or about 62% of our gross yearly income. I think that is about average or above for being in our mid-twenties. I am pleased with that.

My web design work is also going well this month. I am already past my monthly hours goal and still have a week to go. I think I need to raise my goal for February.

I have filed our taxes. We are getting about $650 back, which we will use to pay towards the HVAC bill.

401K with Matching!

December 4th, 2017 at 09:10 pm

Husband's job is going to be offering 401ks with Vanguard in 2018! How exciting!

Also, they will 100% match contributions up to 3% and 50% match up to 5%.

For now I think we are going to start with 3%. They said you can change the amount at any time. So once our budget crisis is over hopefully we can up it to 5%.

With this 401k I'm not sure if they are doing away with profit sharing then? I kind of hope not. Because on average they have contributed about $2,000 a year. If they do 3% contribution matching they will only be giving us about $1,000 a year. Ugh. BUT at least it will be with Vanguard and accessible. Right now the profit sharing is all very sketchy. We don't know where the funds are and have no way to track them. They just give us a statement of what we have once a year. It doesn't really feel like our money.