Year to date, I’ve contributed $550 into my Roth. My 2011 goal was to contribute $2500 to it. We shut off our IRA contributions because we wanted to save more money for the house. I’m debating about contributing more to it now to reach my 2011 goal.
I know that saving for retirement is very important. However, both Y and I have awesome retirement plans at work. His employer automatically contributes 9.12% of his pay to a pension for him. He also participates in his work 457 plan. I thought that he was contributing $100 per month into it because I set it up. We just received his statement and he’s actually contributing $200 per month or $100 per paycheck. I was happily surprised but I’m not going to switch it back.
I just wrote a post about my 401K. I will be getting a dollar for dollar match up to 5% so I will definitely contribute 5%.
The big question is whether I want to contribute more to my Roth IRA. I would also like to put money aside for a new vehicle for Y. He’s had some problems with it and I don’t know how much longer it will be feasible to keep putting money into it compared to buying a good used vehicle.
So many decisions…