How Much Money Do You Need to Feel Content and Secure?

When I first started working I remember thinking, “If only I could save $50,000, then I’d feel relatively content and secure.” When the bank account reached $50,000 the number in my mind jumped to $100,000, but when I hit that $100,000 mark the figure in my head continued to grow. I saved the maximum amount in my … Read more

How Can I Reach Retirement Faster?

Back when I was working, (I now stay at home with my 16 month old son), I spent half of my daily commute dreaming about retirement. Traffic in the Washington, DC area is among the worst in the country and every day as I sat sandwiched between thousands of cars on the beltway I would … Read more

$600 Richer

As I mentioned a few days ago I am currently in the process of rolling my 401(k) into an IRA. My employer instituted a Roth 401(k) a few years ago, so some money will roll into a Roth IRA and the rest will roll into a traditional IRA. To be more precise roughly $100,000 will … Read more

$1 Million By the Time I’m Ready to Retire?

My job officially ended with my former company in November of last year. In early December I received my last paycheck and on the last day of 2011 I received my severance payout. As each of these events transpire I feel the book officially closing on my previous employment. I believe yesterday marked the final … Read more

Maxing Out My 401(k) to the tune of $155,758.87

I started contributing to my 401(k) in 1999 with my very first paycheck at my very first job straight out of college. Of course, I made such a teeny, tiny salary when I first began working that I couldn’t max out my contributions, but in 2002 and 2003 I got really close and in 2004 … Read more

Sometimes Financial Decisions Are Not About the Money

Yesterday I wrote about my impending layoff and my desire to plan and prepare so we can keep a nice little nest egg in the bank while I transition from full time employee to temporary stay-at-home mom. One thing I failed to mention was my desire to fully fund my 401(k). Given the fact that … Read more

Mothers and Money

I came across this article on the Internet earlier today, but of course I can’t seem to find the original URL in order to give it credit. With babies on the brain I thought this was an interesting topic. Because two out of three mothers ages 25 to 44 work fewer than 40 hours a … Read more

Rounding out 2009 with Large Retirement Contributions

Remarkably my husband and I finished 2009 with nearly $79,000 in retirement contributions. This included savings to both 401k(s) and non-deductible IRAs. Our companies provide substantial 401(k) matching, which really bumped us well past the amount we could have contributed alone. This year we’ll need to decide whether or not to take advantage of the … Read more

How Often Do You Review Your Retirement Portfolios?

In January a friend of my husband’s asked his employer, (a very small company with less than ten employees), to increase his personal 401(k) contribution from 5% to 10%. Now the friend assumed that the employer made the change and went about his business for the next six months. In fact, he assumed everything was … Read more

How Much Will My Pension Be Worth at Age 65?

Anytime after age 55 I will have access to pension benefits for a plan that is currently frozen and without a COLA (cost of living adjustments). In order to receive the full benefits I have to wait until age 65. If I take the pension prior to age 65 I will be penalized for early … Read more