Friday, April 3, 2020

Retirement Savings


Frankly, it's hard to talk about anything but COVID19 right now, but I am going to try. My retirement investments have dropped considerably.  I am down around $14,000 to $15,000 overall.  Nevertheless, I plan to plow forward and to keep investing.  So below are my retirement contributions to date:

1/3/20 $100
1/4/20 $100
1/15/20 $1,000
1/31/20 $100
2/14/20 $800
2/18/20 $100
2/27/20 $100
2/28/20 $200
3/5/20 $850
3/31/20 $100

All of these contributions have gone into my Roth.  I still have $2,550 left to contribute for the year.  I hope the stock market recovers.  It's so disconcerting to see my paltry savings dwindle away.  I certainly don't believe that I will reach my goal of $100,000 in savings by the time I am 40.
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11 comments:

  1. LucyApril 3, 2020 at 7:19 AM

    Like you and everyone else, our retirement savings has also dropped considerably. Honestly, though, I'm not worried about it as I believe it will come back even stronger. Keep investing. The market is on sale right now!

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    Replies
    1. Michelle82April 7, 2020 at 9:44 AM

      I think stocks will come back stronger too. I'm just worried about job loss and the subsequent raiding of retirement funds to survive.

      Delete
  2. slugmamaApril 3, 2020 at 8:55 AM

    Keep investing especially if you aren't even 40. We made $15K in 2 days when we bought a bargain stock and it rebounded 48 hours later. Ok it's down to "only" $10K up right now but we have faith it will go up even more and we'll cash out and make a few bucks on it.
    Investing in the Stock Market is a long term game.

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    Replies
    1. Michelle82April 7, 2020 at 9:47 AM

      I definitely plan to keep investing. I'm just worried about job loss. There have been a lot of press alerts about big law firms laying off staff and cutting pay. Of course, that makes me worry about having to take money from my retirement account to survive while the market is down.

      Delete
  3. SMSApril 4, 2020 at 10:41 AM

    The market will recover eventually and you will be there when it does. You have time. Hang in there.

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    Replies
    1. Michelle82April 7, 2020 at 9:53 AM

      I know it will recover just worried about having to use my retirement account to survive and then having to start over again later.

      Delete
  4. My Early Retirement JourneyApril 5, 2020 at 6:21 AM

    Don't be discouraged. I'm no expert, but they say it happens. I felt this way the first year I started investing in 2018. I was like where did all my hard earned money go!

    ReplyDelete
  5. My Early Retirement JourneyApril 5, 2020 at 6:22 AM

    Not related, but you may want to update your Blogroll. I'm back on blogger: myearlyretirementjourney.blogspot.com. The other link doesn't work anymore :(

    ReplyDelete
  6. LanDidWhatApril 7, 2020 at 6:33 AM

    I think having gone through 2008. I'm not that worried about it. I plan to take full advantage of the lowered stock prices.

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    Replies
    1. Michelle82April 7, 2020 at 10:04 AM

      I'm definitely taking of advantage of the lowered stock prices, but I'm extremely worried about job loss.

      Delete

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