I mentioned earlier that I didn’t know about the 401(k) where I work until a little less than two years ago. (Yes, I know…everyone should know about these kind of things…) When I found out, I immediately signed up, but only started by putting in 5% of my salary. After a few months, it didn’t look like enough, because let’s face it, 5% isn’t that much. So I upped the contribution to 7%. Still not working for me. 10%? Uh…no. Now I’m up to 12%. I’m comfortable where I am now, but will probably increase that in the future. My funds returned over 18% last year, and I am looking at 10% return year-to-date, so I’ve got that going for me.
Well, with the recent run-up in the markets, I finally broke $10,000 in my 401(k)! About time! When I started out, it seemed that my balance was increasing soooo slowly, but now I’m at five figures. Sure, most of the increase is due to my contributions, but after a few years, the investment growth will really start to add up (I hope). Anyway, it’s a milestone that I wasn’t even thinking about when I started because it seemed so far away, but now I’m there. Let’s see how long it takes to get to 25k…
