Monday, August 17, 2015

Retirement Update

I just added up our retirement totals for August 1st and we're within $5000 of our $150,000 goal this year.  We started with $116,599.75 at the beginning of the year and we've contributed quite a bit this year.  I have one more month of adding 16% of my income to my 401k before I need to back it down to the 5% to just get the company match.  I want to max out my 401k but I want the match so its a balancing game, especially because I'm on commission.

I've mentioned it before but the reason that I'm focusing so much on retirement is because I don't know what the future holds.  What if I'm disabled tomorrow and never able to work again?  Also, my in-laws just retired and I worry for them. I hope they have enough money to last.  My mother-in-law retired just before she turned 59 so that is young to retire.

If all goes according to plan (which I know rarely happens), I do want to be able to retire and travel without worrying about money at every twist and turn.  I want to have less stress in retirement, not worry about money.  I will probably be worried about our health and kids at that point.

3 comments:

  1. You are blowing your goal out of the water!! It's smart you are making retirement a priority. I'm the same way; plan for the worst possible thing that could happen. My husband has an amazing pension but I don't like to count on that because you never know what the future will bring.

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  2. Holy wow what an increase this year. Amazing!

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