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Increased my Roth IRA contribution and yearly goal update

July 3rd, 2007 at 02:15 pm

My Roth IRA at Vanguard is now worth $ 2,456.51. Up 5.66% since January 19. Not bad.

I've decided to increase the contribution from $50 to $75.

It's not going to make a HUGE difference, but it's still 50% more.

My goal of putting 10% of our income in a savings account is not going to happen. I am able to put between $100 and $200 every month, but $7,000 is too much at that point.

I have come up with a http://lau.savingadvice.com/2007/06/09/payment-repayment-pla... a few months ago, and we are sticking to it. So far so good! We should end up with only one CC by December.
The car loan will be gone by February, just like my goal was set to. Smile

Right now, we cannot make the $1,550 and $300 payment on the mortgage as I wanted to, so I am sticking with the regular payments of $1,477.32 and $252.45 respectively.

Update on IRA

March 23rd, 2007 at 09:25 am

I've had my Roth IRA with Vanguard for a little over 2 months now, and I just wanted to give an update.

I put in $2000, and have an automatic $50 going in on the 16th of every month.
The only fund I was able to get with this money was Vanguard STAR (http://finance.yahoo.com/q?s=VGSTX).

I have put $ 2,099.98 and now own 99.672 shares, for a total value of $ 2,134.97. That's +1.67%.

I thought that IRA contributions were deductible, but found out that Roth IRA contributions were not. I'm already not going to pay taxes on the gain, so I guess I should consider myself happy.

Got myself a shinny new Roth IRA

January 18th, 2007 at 03:02 pm

So I was opening myself a Roth IRA on Vanguard yesterday when I could not find any fund that had a minimum investment less than $3,000. So I gave up on it...

Today, Jim at http://www.bargaineering.com/articles/ posted this blog today: http://www.bargaineering.com/articles/go-open-a-roth-ira-rig..., which gave me a little extra motivation to check it out again. So I found a fund that requires $1,000 minimum investment, which I can do.

So guess what? I did it... I am now the proud owner of a Roth IRA account.

------- Edit ------
This morning, even the Consumerist was suggesting the post by Jim:

Now do you think you should open that Roth IRA??