In 2008, we undertook our first annual savings goal, and saved $50,000 (even with my big pay cut). In 2009, we saved slightly more at $50,168. In 2010, we had a bit of a backslide, but we saved $49,325. In 2011, we increased our annual savings by $10,000 and saved $60,060. In 2012, we saved slightly more and saved $62,446.
Retirement Savings
In January 2008, we had a combined $245,795 in 401k savings. Most of that savings, $150,000+, was in my 401k. As of September 2013, we have a combined $606,324 in 401k savings. And, our 401k savings is basically split between the two of us which means Mr. Sam has made significant progress in adding to his 401k savings. The dramatic increase in 401k savings over the past 5 years is due in large part to (1) each of us maxing out our 401k savings year over year; (2) Mr. Sam's awesome match at his prior employer in that he was getting a 20% match for 5 years; (3) continuing to regularly invest in stock based mutual funds during and after the great recession which meant that we bought some great bargains; and (4) the overall recovery of the economy.
In January 2008, we had a combined $7,217 in IRA savings. At that point, all of our IRA savings was under my name. As of September 2013, we have a combined $125,510 in IRA savings. The dramatic increase in IRA savings is due to (1) each of us maxing out our IRA savings year over year; (2) buying stocks at super bargain prices during 2008 and 2009; (3) the overall recovery of the economy.
1 comment:
That is great progress! Congrats. Inspires me to keep up my own savings.
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