Happy Blogoversary to me! It's been five years since I started my blog and now we have no debt except our mortgage. Our emergency fund has doubled in size. And our retirement accounts have increased 2.5 times. Based on my experience, blogging is a great way to make great things happen financially!
I transferred the net proceeds from my Ebay sales to our checking account last night. The four sales net us $35.77. This snowflake goes to the Christmas fund!!
The stock market it moving up fast! I still think there will be a correction this year, but I'm no expert. Just because the market is up, doesn't mean you missed the boat in investing. Now is always a good time to invest if you are in for the long term, 10 years or more. I hope to write a few posts on investing for retirement soon.
When did you first start investing for retirement? How did you start? Savings account, mutual fund, an IRA, Roth or 401K?
Blogoversary - 5 Years
March 12th, 2013 at 12:06 pm
March 12th, 2013 at 12:18 pm 1363090696
I started investing in a 401(k) when I started my job at 20 years old. One of the best pieces of advice my dad gave me was to contribute what the company would match (6% at the time) from day 1. I'd never miss it and it would grow quickly. Then add a % every time I got a raise or promotion. It's been painless.
March 12th, 2013 at 12:38 pm 1363091906
March 12th, 2013 at 01:54 pm 1363096497
March 12th, 2013 at 02:48 pm 1363099681
March 12th, 2013 at 02:48 pm 1363099736
Neither of us saved for retirement while young, though we both worked. I was buying a car and paying my own way through college. My spouse lived at home and had all that stuff handed to him, but he was saving fiercely for a down payment on a home (in crazy expensive land).
After college, I started putting 10% into my 401k. I have always done 10% at work, post-college. Some years we also funded IRAs. So, we have consistently saved 10% since age 23. Counter to popular assumptions, our best retirement savings years have been with my spouse out of work. We try to save at the same level, but with half the income, that translates into a much higher "percent of income" savings. We pull it off because we no longer pay income taxes (we used to get slammed by taxes). I think most our friends and family would be shocked by our retirement savings. I get lectures at times how behind we must be, online and offline.
As of 2010 I no longer have a work retirement plan, so we just max out our ROTHs. Which is ample for us given income and retirement savings already amassed.
March 12th, 2013 at 02:49 pm 1363099757
March 12th, 2013 at 03:40 pm 1363102817
I think you're right about this market boom; it's just a temporary bump. Investors are excited about all these recent mergers & acquisitions, but once the austerity measures slow our economy down, the Dow Jones will be quick to follow.
March 12th, 2013 at 04:05 pm 1363104328
March 12th, 2013 at 08:06 pm 1363118799
March 12th, 2013 at 09:29 pm 1363123753
March 12th, 2013 at 11:30 pm 1363131036
March 14th, 2013 at 02:39 am 1363228740