I randomly log in and track our retirement accounts. I especially like to log in on a day when the markets are up!
With market appreciation and three months of regular investments our accounts are up nearly $8500 since the end of 2009! And come to think of it less than half of that is contributions. It seems once you hit 6 figures the money is amplified. Fun to watch.
My husband is 40 and has been contributing to retirement accounts since he was 21. I have always contributed when I worked outside the home. We also now are able to fund a Roth IRA in my name and have for several years. Regular investing does add up, markets do bounce back, income generally increases over time leading to increased contributions. It has definitely been worth it to watch those accounts rise...and fall and rise again!
If you aren't contributing to retirement in anyway, I would highly encourage you to start doing so on a regular basis. Find an amount you can set aside and in time increase it. The habit of doing it regularly is hard to beat!!
Retirement Accounts are Rockin'
March 24th, 2010 at 12:46 pm
March 24th, 2010 at 03:26 pm 1269444371
Oh, and I completely agree with the contributing. NT has always contributed (I think it's automatic in UK) since he started working at 16 or 17, I started contributing at around 25 or 26, and AS only started seriously contributing a couple years ago, maybe age 28. You can see HUGE differences in the balances of our retirement accounts. NT's net worth is through the roof compared to ours. (He also bought a home in his early 20s with help from his parents; this has also contributed.) Other than putting aside a standard amount in retirement and buying early, he made the same dumb mistakes as me and AS, yet his assets far outweigh his debt, by more than $100K at this point!
March 24th, 2010 at 05:52 pm 1269453161
March 25th, 2010 at 02:43 pm 1269528223