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Retirement Update (& a crow)

October 15th, 2007 at 12:51 pm

I actually do have the crow picture my dad sent me. IT is very high resolution and when I edited it down it got all blocky. Bummer. I will have to get dh's help when I edit more of the pics down for later. But you get the idea - we just saw these big crows in the park (Tokyo's equivalent to Central Park I guess - Yoyogi park - right by our hotel). & I love crows. I used to nurse baby birds back to health - the crows were my favorite.



& yes I promise to share more pictures later. I'll share mine sometime this week & throw in some of my dads' pics when I get them.

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Well I got my profit sharing plan update for 2006. I was feeling down on it because earnings were very minimal in 2005. However, I got away with a 10% return for 2006 - so will have to update my net worth upwards $1500. Big Grin Not bad! Considering fees and everything, a 10% return is stellar for a retirement plan. (One I have NO control over...)

Anyway, if I keep my job through the end of the year, I should have $32k as of 12/31. Today I stand about $25k - only 80% vested. So I will add my $1500 tonight in Quicken (or 80% of it anyway) and will have another $6k adjustment on 12/31 to show full vesting. That is awesome.

Since I moved some money around I also updated my excel spreadsheet where I track my investment allocations. I updated all my investments today, and though it is a very high/peak # with the market right now, our retirement sits at $34.5k (IRAs).

I knew the 2 retirement vehicles would be neck & neck around 12/31. But have put more into IRAs than I Expected this year, so the IRAs inch ahead. (I won't know my profit sharings current earnings until next October either. Though I could assume it is doing well I am sure. Possibly another $2k earned already for 2007 that I am unaware of).

That will put our retirement at about 95% of our income as of 12/31. (I'll be 31). Not bad.

We should hit 100% next year. Will get another $8k from the boss I imagine (I imagine I Will work much more overtime if nothing else - probably a small raise too - which will inch up my contribution which is based on a percent of my income). & at minimum want to get $5k in our IRAs. Goal is $5k-$10k anyway. I don't expect much more than $5k unless our parents feel extremely generous 2 years in a row. Any windfalls will probably go to retirement. But I am not expecting anything like that. I think $5k will be tight for us, and if I get a sizable raise we can aim for more. (I don't even know what our health insurance status will be. I am feeling optimistic but lord knows why, it could easily eat my raise as it has been for many years).

Anyway, for retirement in 35 years, even just the $5k to IRAs will put us on an okay path. (That whole starting early thing. Big Grin ). OF course I want to get to a point where we max out our IRAs. Pretty much our next goal. That would be $10k next year. Aiming for $5k, and hoping to inch it up over the next 3 years or something. Just retirement, retirement, retirement going forward. If nothing else in 3 years we will no longer be paying $4k/year to preschool so should be very doable. & I don't really see the need to do more than the $10k. Would be 15% of our income. But as long as it is doable, reasonably, we will max out our IRAs for tax reasons. So, we'll see...



1 Responses to “Retirement Update (& a crow)”

  1. Maismom Says:

    I guess beaty is in the eyes of beholder. I could never imagine myself taking a picture of a crow LOL Actually, crows are not well liked in Tokyo because they pick on garbage and make a lot of mess. You see them everywhere, though.

    Anyway, I'm so glad you had a lot of fun, and welcome back!

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