We finally did it! We surpassed $100,000 in my work 401k. We are close to the edge still and that could dip down under if the market takes a turn for the worse, but for right now I’m celebrating.
Currently, my work 401k is showing a 25% return since October, which is up 4% from last month. I’ll take it.
Using this investment calculator, we should hit the next benchmark of $200,000 in about 3 years. We can’t wait. That is just my 401k. We should hit that benchmark with our total investments within 2 years.
According to the calculator, we should have enough in retirement to where I could retire when I’m 62. It’s crazy to think that is a possibility in just 16 years. Our youngest will be 18 then. Since Christy is a stay at home mom that home schools, I told her we could retire together.
It’s also crazy that I’ll be 62 in just 16 years. I guess I’m already old.
So, it’s been a year since Christy and I started our Roth IRAs. At the time, we were going to have a wait and see on whose investment path (robo investing through Betterment or direct investing through Vanguard) was doing better and possibly move everything to the leader.
Depending on the month, our accounts are always within $100-$400 of each other. I think the best course of action is to just keep them the way they are. That offers a little more diversity since I’m 100% stock and she has 10% bonds in her mix.
So there we are. A year after we started our Roth IRAs our retirement savings total $121,770. Not bad. In July, I’ll look back at my first retirement post and see how much those accounts have changed in a year.
| Investment | Deposit | Balance | Growth |
| Work 401k | $1,213 | $102,618 | $3,257 |
| Roth IRAs | $1,000 | $19,152 | $763 |