Saturday, July 13, 2013

Retirement Check Up: July 2013

One of my goals this year is to increase our retirement savings to $75,000 (excluding both our pensions). We started the year with our retirement savings at $52,934.11. I just received all of our end of second quarter statements. We are at $64,976.71 so we are more than halfway to our goal.

 However, we've contributed about $7200 this year. That means that the other $4800 was due to market gains. While that's nice, we have no control over that. We are not on pace to currently got our goal this year.

Even though this is a goal, I'm not going to increase our retirement savings to make it happen. We have too many other things going on like preparing for maternity leave and paying off our tractor. 

Overall, I'm happy with our progress. We started saving for retirement late in the PF world. I was 27 and Y was 29. We were more interested in having a good time and just getting by than putting money away for our future. While some could argue that was a dumb decision, we needed those years to sow our wild oats. We just need to catch up now.

Where are you at with your retirement progress for the year?

2 comments:

  1. You are still young enough to be okay. Hubby did not start retirement until 38 and I have always been self employed.

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  2. I started early (22). M started a bit later, but we've saved a lot at this point. Sometimes I feel like we're overly invested in our retirement (is that even possible? :-)), but I'm sure we'll appreciate it very much one day.

    Nice progress - keep it up!

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