Saturday, December 13, 2008

Retirement Account Balances Update

I know I said I wasn't going to look at my retirement accounts anymore, but a few days ago I got something in the mail that really made me look.

I received my Statement of Account for 2007-2008 school year from the Public School Employees Retirement System, which is basically a summary of the amount taken out of my paycheck and invested with 4% interest for my retirement.

The school district takes out 7.5% of my pay from every paycheck I get and puts it towards my pension fund. After 5 years I am considered vested in the fund and it is money that I receive at Retirement.

my balance for my first two years of teaching was $6,625.11.

This year so far they have taken out $2054.26

Total Contribution in School District Pension Fund is $8679.37

Other Retirement Accounts:

I am still contributing 13% of my pretax salary to my 401K at my Part time job and the balance is $2535.07. Starting January 1, my contribution rate will be 15%

I restarted my contributions to my TIAA CREF 403B ( $100.00)every pay period) and the balance is $583.00

And finally the balance of my T.Rowe Price Roth IRA is... $726.00...eek!!! I know this should have been my first priority. I will max it out for 2009.

and now the total I have saved for Retirement is....................... drum roll please.............


That's actually not bad...although it could have been over $17,000 if I had maxed out my Roth. I can still do it by April 15,2009 but that is not really my priority.

...calculating that took a bit of sting out of the collection on my credit report.

I am still trying to flesh out my 2009 goals. I will try to have them posted by the end of the weekend.

Until next time, think prosperous thoughts


1 comment:

TeacHer said...

Hey! I just discovered your blog and realized we have something in common: we're high school teachers! I really enjoy your blog and hope you'll check out mine.