Well my retirement account is down....Down $5600.00 since July 1st. Ouch!!!
I had been thinking lately about my retirement goals now that there is talk about switching up the retirement plan that I was suppose to be working towards.
Current Goal:
Max Emergency Fund
My Future goal is to (Sept 2012 and later):
#1 Each year Max Roth IRA
#2 Pay off Mortgage as fast as possible
#3 Once Mortgage is paid off invest in stock market
*** ???#4 Build up Pre-Retirement account to 100K
My old plan 2010 and prior:
#1 Max my pre-tax Retirement acoount (16,500 per year)
#2 Build up my Emergency Fund
That is a big swing. I am still liking my new goal but I think it would be nice to have 100K in my retirement account before a certain point, but with this drop of nearly 6K, it makes that distance from where I am now to that 100K goal seem like it might not happen.
Should NOT have looked at Retirement Account
September 2nd, 2011 at 05:44 pm
September 2nd, 2011 at 07:39 pm 1314992375
I don't know how risk adverse you are, but when prices drop on the shares of your mutual fund, your contributions buy more. That was the one consolation in maintaining my contributions between fall of 2008- spring of 2009.
If you are going to pursue your goal of #3, remember that stock prices, representing individual companies, go up and down even quicker.
Time to ride through this rough patch by maintaining your contribution level and in the meantime search your feelings and get an idea of your true level of risk adversion.
September 3rd, 2011 at 06:58 am 1315033081
August 28th, 2018 at 11:51 am 1535457098