Wednesday, March 18, 2009

Retirement not so shabby

Still waiting on that state return of mine… but in other news

My retirement accounts don’t look so weary.
My Roth IRA has only lost 21.7% of its face value (what I put in, in regards to what its worth). It’s worth $9,746.61/ $12,451.63

And considering I still have 1548.37 to add to it for this year, I think I’m fairing well in this market since I have the long term to recoup my losses.

Of the 9,746.61 of worth, ---> $2,018.35 is in the ING Fee free Roth IRA. If you remember, last year I opened a second Roth IRA with ING that allows you to have a separate savings account and linked CD’s. So I put $1,000 in a long term CD at 4.5% (I was smart that year and that CD lasts for 2 years). I was really worried about the market and didn’t want all my eggs in one basket so to speak.

Well this year I’m feeling the same way. I didn’t want to put the full $5,000 I’m allowed to into mutual funds since I really hate risk and the stock market just scares me. So, I added $1,000 to the savings account and made one $100 CD thus far at 1.75% (the highest rate they are offering right now). The other $900.00 will be transferred into CD’s a little at a time. I’m waiting to see if the CD rates will change as we go each month. The 900 gets to earn a cruddy 1.65% since that’s what the current interest rate for their savings accounts are in the mean time. I may add another $500.00 into CD’s this year and only put 3500 into mutual funds depending on the market.

My Cal PERS money in my pension is a guaranteed 6% return and I’ll get that fun employer funded amount added into it in November so that amount can only go up.

The pennies from my years of minimum wage currently $1030.78 (that I get when I quit all forms of city employment) are out of my control and will be eaten up with inflation since it earns some ridiculous rate (like .05%). But again, each month a few pennies are added to the balance so it won’t drop.

Then there is my mandatory 401-A… currently worth 332.63. 1% of my paycheck is deposited into here and I recently changed the diversification. 30% goes to stable bond and money market values (that can’t loose money) and 70% goes into a target date 2040 retirement account. No idea how much I’ve put in here over the years… I may try to find out just for curiosity sake.

But when I add everything up, retirement wise I’m clearing over 17,000 at 22! For details, see my net worth IQ sidebar.

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