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Success!!!

February 15th, 2011 at 01:12 am

Finally got my tax return e-filed.

California is filed and no talk of IOUs at the moment. Phew!

IRS hasn't accepted my e-file yet - they will be slammed this week so may take some time. Is the bigger refund, but state is the one that I worried about as far as solvency. IRS will be fast once they catch up.

I usually file Jan. 31, and I usually don't have any refund to speak of, so this has been super annoying! Technically I should have been allowed to file state, but my work software wouldn't let me until IRS started taking returns (today).

I have a $2k refund (mostly due to all the medical bills last year) and I've committed it to my IRA for 2010. Just eager to get my refund and fund it!

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Is it true what they say that the first $100k is the hardest to save?

I'd say, yes and no.

We saved up $100k pretty easily before we had kids. Most of it went into our house. (Income was about what it is now - net - but no expenses to speak of. Now its kids, insurance insurance insurance, kids, etc.). Take it from me - save while you are young!

The market has been so blech the last decade, it's been slow going, but our retirement hit $100k right about 12/31/10.

The market has been on fire, 2011, and soon I will have another $2k to add.

I see what is meant. Even if we don't put in a dime, we should earn an average $5k-$10k per year with our investments, as they stand now.

The other thing for me is that my boss controlled about half of our retirement funds, before the end of last year. Though it is true that he was putting a LOT away for me (tax free income!), the fact is I have more aggressive and lower cost investments than my work plan had. Work retirement plans are notoriously expensive (administration, accounting, etc., etc.) and the investment profile of my office was geared to the mostly near retirement demographic.

I can't make up all that difference ($8k per year contributions), but I feel better seeing I can make up some of the difference with better returns and less fees.

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