Saturday, January 14, 2017

Retirement Savings 2016

I started 2016 with $0 in retirement savings.  I contributed $9,000 to my Roth IRA in 2016: $5,500 prior to April 15, 2016 for my 2015 contribution and $3,500 for my 2016 contribution.  At the end of the year my account was worth $9,491.  I had growth of $491 for the year which equates to about 5%. 

My goal is to get my retirement savings up to $20,000 by the end of 2017.  I plan to contribute $7,500 to my Roth IRA ($2,000 for 2016 and $5,500 for 2017) and $2,000 to a taxable brokerage account.  That means I will only need growth of about $1,000 for the year to make my goal.  I hope the markets are good to all of us investors this year!

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