In order to see how well I am or am not doing on saving for retirement I will document my savings once a quarter. I think my current retirement savings is about double what I had last year, but it is too much of a pain to look up what the values were at this time last year so this is just a guess. In the future, I’ll be able to look up my past balances on my blog which will be much easier.
- Traditional IRA $36,307
- Job 401k $7356
- Solo 401k $3694
- Roth IRA $1744
- Total $49,101
Despite the stock market declining this year my totals have gone up a fair bit this year. My IRA was at just under $39,000 before the market started going down. My job 401k has less than I contributed, but it is only 1% down. I’ve saved more than 1% in taxes and I’ll get a 4% employer match so that will still be a profit at the end of the year. If the stock market doesn’t go down too much I’ll easily get the total over $50,000 next quarter. My goal for the end of the year is $60,000. Since I’ll be off work from the beginning of May to the end of November that should be a challenging.
I should have a lot more saved at my age. Considering it has just been the past few years that I’ve really started saving I don’t think I’m doing too bad though. I’m doing my best to make up for lost time.