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MT: Keeping The Course
Posted on 9/4/14 at 10:01 am
Posted on 9/4/14 at 10:01 am
One thing I have learned from this board (and I have been reassured from outside of the board) is to keep the course with investing. So far my investing career is 2 years old with a horizon of 30-40 years at least. Per the suggestions in investing planning, I have increased my contributions with each raise and held steady. On the downside, the money I once placed into savings has dipped to nil. This is where I am at and one thing I plan to focus on over the next few months when evaluating my situation for 2015.
The investing outlook for me over the next two years isn't as sunny as the last two due to a big change in my life, and some debt that was brought upon me. Even with the changes in lifestyle upcoming, I will continue to pay future RickAstley to maintain the best investing time period of my life. All in all I want to say thanks to the board for your help and I feel that I would not be where I am today without feedback and the countless threads posted across here.
For the MT, how are you doing on keeping the course? Has there been much success in your life to this point? What hardships have come up which made you stray from the investing path you defined?
The investing outlook for me over the next two years isn't as sunny as the last two due to a big change in my life, and some debt that was brought upon me. Even with the changes in lifestyle upcoming, I will continue to pay future RickAstley to maintain the best investing time period of my life. All in all I want to say thanks to the board for your help and I feel that I would not be where I am today without feedback and the countless threads posted across here.
For the MT, how are you doing on keeping the course? Has there been much success in your life to this point? What hardships have come up which made you stray from the investing path you defined?
3
Posted on 9/4/14 at 10:19 am to RickAstley
quote:
All in all I want to say thanks to the board for your help and I feel that I would not be where I am today without feedback and the countless threads posted across here.
Totally agree! One of the best boards for Money talk I have found. Love the different opinions on pretty much everything that gets posted. Hard to find a thread where everyone agrees.
quote:
For the MT, how are you doing on keeping the course?
The wife and I hit $100,000 earlier this year and are around $113,000 now in our Savings and Retirement accounts. It was a big milestone for us to hit, considering we have only been married for 6 years and that is pretty much when we started our path to financial freedom. She cares, but pretty much relies on me when it comes to saving and investing. I received a raise this year but I have kept my salary the same, as I have in years past. She also increased her contributions 1%. When I started my career some 8 years ago, I was putting $50/month into my 401k. That number is at $880/month today. If I had any piece of advice for the young ones on this board (31 myself, so I guess I am still young) is never quit putting money away as I did when first started. The market was tanking, the money I was putting in was quickly evaporating and it freaked me out, so I temporarily halted my contributions.
The rest is history. quote:
Has there been much success in your life to this point?
Man, a question I have thought about a lot and I am conflicted on. I look around and feel like where we are is great. Combined salary of just shy of $100k, and have a little over that saved up. While I feel we are doing great judging by other around me, I wonder if we will ever be able to get to a million, retire comfortably, etc. I see numbers being thrown around here and other places that make me doubt just how good I think we are doing.
quote:
What hardships have come up which made you stray from the investing path you defined?
Picked up a car note this year, but it hasn't really stopped our saving and investing. Just slowed it, if you will. Also, gave in and got my wife a privacy fence and we put a pergola on our back deck, which knocked our Savings down around $4,000. But hey, what is the point of having money if you don't spend it. And it made the wife happy which is always good!
BTW, great idea for a thread!
Posted on 9/5/14 at 1:36 pm to RickAstley
This thread is depressing me but also inspiring.
My wife and I are 30. We have $3k in an investment (Roth) I just opened up this week and $4k in savings. I'm just starting graduate school and she's a teacher. It kills me to think about how we both got a job right out of college and spent and spent and spent and spent until we had our first child and realized that the future really is coming.
So we're starting late, but I feel inspired by the fact that so much can be done if you just work at it. Learn and maneuver the market. Take advantage of deals. Actually be concerned with savings. It'll work out.
My wife and I are 30. We have $3k in an investment (Roth) I just opened up this week and $4k in savings. I'm just starting graduate school and she's a teacher. It kills me to think about how we both got a job right out of college and spent and spent and spent and spent until we had our first child and realized that the future really is coming.
So we're starting late, but I feel inspired by the fact that so much can be done if you just work at it. Learn and maneuver the market. Take advantage of deals. Actually be concerned with savings. It'll work out.
Posted on 9/6/14 at 5:06 pm to RickAstley
The S.O. and I are just starting out (both 23) so it seems like it will be an uphill climb for the next few years. She has $24k is student loans left to pay. We are currently paying them down at $2k per month. I will have $38K to pay down in the next 23 months as I start PMBA school in a few weeks. Combined income is currently $102K per year. I have $7k in a company 401k (contributing $900/month with the company match) and another $5k in a personal stock account.
I think we will be golden in 2-3 years when we are debt free, but I can't quite see the light at the end of the tunnel just yet. We plan to stay the course!
I think we will be golden in 2-3 years when we are debt free, but I can't quite see the light at the end of the tunnel just yet. We plan to stay the course!
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