I've been taking a look at my "numbers". Good news on 2 fronts: fast food expenses are down and 401k balance is up.
December fast food was $116, down a bit from November and this month so far has only been $65. I've really been doing well with the meal planning and sticking to it. I still hate cooking, but what'ya gonna do?
My 401k had a 17.22% gain for 2012! I still have a LONG way to go to catch up with having a decent retirement fund, but since I still have 18 years or so before retirement age of 67 I think we'll at least have a small nest egg and hopefully a little Social security benefits, since I've put into it for the past 30 years and will be for another 18 years. Right now I'm sitting at $25,300 (this starting at zero 7 years ago). At the end of 2011 it was $18,267. Mid year there was an employer contribution of $2200 and at the end of 2012 it was up to $24,252. It's increased over a $1000 just since Jan 1st. Another $2200 is due to get added to it here in a few months with our annual profit sharing deposit from employer.
I'm not one to watch my 401k balance all the time - just every month or two I take a look at it. I am hoping to get back to making payroll contributions in the next couple of years, as my "kid expenses" go down. When DH had to stop working and my employer stopped our bonus program, I had to stop my contributions for the time being. I was putting $200 a month and company matched 50%. Fortunately, though when my employer dropped the bonus program in 2009, they did add a profit sharing of 3.4% of our annual income, so that has helped keep my 401k growing.
Awhile back, I posted about some of my retirement "possibly" being inheritance from my mom. I got a bit blasted for "expecting" this. (I do NOT expect it, at all). While at my mom's for Christmas my uncle had a more in depth chat with me and DH about his will and "estate". He asked that 20% of the sale of a classic car (worth about $100,000) he has goes to some children's charities he supports. I said to make sure to put this in his will and especially which exact charities he wants to help. That would be so cool to be able to give an amount like that to charities! Now, this being said, again, I do NOT expect this money, nor do I consider it a part of my retirement planning. It would just be a "bonus" if I inherit anything from either my mom or my uncle. He's only 70 and could sell that car between now and then. Most likely he will have to sell it and his house, if/when he needs long term care. He does have a house paid off that he said is currently worth about $160,000. But, it would be kind of cool to be able say I got an inheritance from a "rich uncle". LOL. He is my favorite uncle and makes us all laugh hysterically, so I'm hoping he's got many many more years to be around!
I think my poor hubby will have to work until his dying breath. ;) lol!! You're doing great! Keep it up! :)
ReplyDeleteWhen cooking at home, look on the bright side - you save money, and it's healthier! Nice gain on your 401K. Our employer doesn't match contributions, and we put in only a little bit every year (it's a start!), and I think we would make more money in a bank than with whoever does our 401K because it only loses money every year, lol :)
ReplyDeleteI have an aunt who passed away in June, leaving her husband (my mom's brother, so a biological uncle). They didn't have any kids, and invested heavily over the years. Years ago, it was told that the 6 nieces and nephews would inherit their estate, with a certain percentage going to various charities and such. Over time, it became a "hierarchy" where there were cousins who climbed so far up their tushes to make sure they were taken care of....and the rest of us who didn't do that were left on the bottom. I don't expect to see a dime!
ReplyDeleteYes, if I get anything down the road it will be akin to winning the lottery, LOL.
DeleteI don't think there's anything wrong with knowing there's something there waiting for you once you reach retirement (like the inheritance). Sure, you shouldnt count with it until it's secure, but you're aware it's there too, and that should help ease the burden a bit. And wow, your employer matched 50% of your contributions?! That's awesome! Too bad they stopped.
ReplyDeleteThe employer didn't stop matching the contributions - I just had to stop making the contributions for them to match! Back at it soon, I hope. They did stop our bonus program (where for a couple of years I was earning and extra 20% of my salary as bonus) but we have some potential for 10% of it to be re-implemented this year, so that is very hopeful!
DeleteGreat news!! We don't do fast food at all -- once in a while I'll buy the big $6 sub from Walmart if it's a busy night -- & once in a great while we'll go to Culver's IF we have coupons. When my husband had his surgery back in October, a very good friend gave us $100 in gift cards to various fast food places - McD's, Culver's, Subway, etc -- what a treat! Not the healthiest but it was nice to be able to stop on the way home from visiting hubby in the hospital.
ReplyDeleteI'm an only child - & my dad died 10 years ago. So my mom always says "it's all yours when I go" lol -- I always hated being an only child so this will be my "prize" - not that my mom dying is a prize but you know what I mean. She's only 65 so hopefully she'll live 30 more years. My grandma (her mom) lives with her -- & she is 93!
Yes, I'm hoping my mom lives many more years too - she's 72 and my grandma is still going and will be 95 in May!
DeleteThat's good news. Our eating out budget has definitely increased over the past couple months and it's something I'm trying to work on bringing down. The other day my dad called me to ask my address (we moved about 6 months ago-anyway). When I asked him why he said he was making a will, then laughed stating, "but you know I'm broke, so you better hope your step-mother leaves you something". Odd sense of humor that man.
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