Money and Finance
I originally had a goal of maxing out my 401k this year but have since changed my goal and lowered my contribution rate. Since my ultimate goal is to retire by 40 I need as much cash available to invest in taxable accounts as possible. I was contributing 10% to my 401k which was going to have me on track to contribute around $11.7k this year. I backed my contribution percentage down by two points to 8% and I am thinking of backing it down further to 6%. Changing my percentage for the rest of this year is only going to put an extra $700 or so in my pocket before taxes; however, that's an extra $700 I can have full access to whenever I do hit financial independence.
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- 2013 Roth Ira Contribution Limit Increased
The contribution limit for IRA's in 2013 increased from $5,000 to $5,500 if you're under the age of 50 and from $6,000 to $6,500 if you're over the age of 50. Of course as usual there are income limits imposed in order to make a Roth IRA...
- Net Worth Update - September 2012
September was an awesome month with a $10+k positive move in my net worth. That was my 3rd highest monthly increase since I've kept track and my 2nd highest for 2012. Over half of that was from my after-tax savings and the rest came from my 401k...
- 401k Update - January 2016
Hi Everyone, So a follow up post to the Dividend Income - the 401K Portfolio update. I said that I would post about the 401K when big changes were made or about twice a year in July and January. Usually in June and December, some of my...
- 401k Update - July 2015
Hi Everyone, Hope all is well. I continue to embrace the blogging community and I continue to love it. Just a quick post tonight about my 401K Portfolio. I said that I would post about the 401K when big changes were made or about twice...
- 401k Update - February 2015
Hi Everyone, Hope all is well. I continue to embrace the blogging community and I continue to love it. Just a quick post tonight about my 401K Portfolio. I said that I would post about the 401K when big changes were made and I'm...
Money and Finance
401k Contribution
I originally had a goal of maxing out my 401k this year but have since changed my goal and lowered my contribution rate. Since my ultimate goal is to retire by 40 I need as much cash available to invest in taxable accounts as possible. I was contributing 10% to my 401k which was going to have me on track to contribute around $11.7k this year. I backed my contribution percentage down by two points to 8% and I am thinking of backing it down further to 6%. Changing my percentage for the rest of this year is only going to put an extra $700 or so in my pocket before taxes; however, that's an extra $700 I can have full access to whenever I do hit financial independence.
Read more »
- 2013 Roth Ira Contribution Limit Increased
The contribution limit for IRA's in 2013 increased from $5,000 to $5,500 if you're under the age of 50 and from $6,000 to $6,500 if you're over the age of 50. Of course as usual there are income limits imposed in order to make a Roth IRA...
- Net Worth Update - September 2012
September was an awesome month with a $10+k positive move in my net worth. That was my 3rd highest monthly increase since I've kept track and my 2nd highest for 2012. Over half of that was from my after-tax savings and the rest came from my 401k...
- 401k Update - January 2016
Hi Everyone, So a follow up post to the Dividend Income - the 401K Portfolio update. I said that I would post about the 401K when big changes were made or about twice a year in July and January. Usually in June and December, some of my...
- 401k Update - July 2015
Hi Everyone, Hope all is well. I continue to embrace the blogging community and I continue to love it. Just a quick post tonight about my 401K Portfolio. I said that I would post about the 401K when big changes were made or about twice...
- 401k Update - February 2015
Hi Everyone, Hope all is well. I continue to embrace the blogging community and I continue to love it. Just a quick post tonight about my 401K Portfolio. I said that I would post about the 401K when big changes were made and I'm...