We are now 17 days into the new year, yet I’m still typing/writing out 2017 whenever doing anything. Hopefully I’ll get over that by the end of the month! It’s time to bring you the second edition of my early retirement tracker, where I take a look behind exactly how much I need to save, and for how much longer. I started tracking this back in October, but just published the first post in December to establish a bit of a trend before I shared it with the world. I think that watching the years count down are a huge motivation for me, probably even more so than watching my portfolio grow. And that’s not to say I am wishing away this time, I intend to fully enjoy my time both while working and when financially independent.
Time to share how I’m doing on the savings side of personal finance, specifically my retirement accounts. I last shared an update back in January based on the account balances that I had at the end of December. With my student loans finally being paid off, saving has now become my personal finance priority. Taking advantage of retirement accounts and the tax savings that they have to offer is an important part in meeting those savings goals. I’m hoping that by trying to max these accounts out it will bring me closer to my goal of financial independence. This snapshot should hopefully give a better picture of that!
As 2015 has finally drawn to a close, it’s time for another retirement accounts update. This is the opposite of my student loans update where you actually get to watch my net worth grow! I enjoy writing these posts as it’s a change of pace looking at the positive side of personal finance. Obviously both sides have the same effect, but there’s something that is more satisfying to me about this part. I gave you my last update back in May when the market continued to make gains, but the rest of 2015 and the beginning of 2016 has seen a much rockier landscape. The S&P 500 saw its worst start to the new year since 2001 and my investment returns are anything but positive over the course of the year.
It’s the time of the year where I provide you with an update on how my retirement accounts are doing. So far I’ve just kept this post to twice a year updates, but I think I’ll eventually convert it to a monthly net worth progress once my student loans have been paid off. The last update I did leave you off with was at the end of 2014 which had me around $31,000 stashed away in my retirement accounts. The market looked like it might have been peaking recently, but it seems that was only a momentary pause for now. The S&P 500 has remained relatively flat the past few months, only dipping up and down. Overall in 2015 we’ve seen gains and I think my portfolio reflects that. For the time being, most market fluctuations will be outweighed by my contributions though.