Today, they have a growing stash, as well as a bold goal to amass $2 million in savings within the next 15 years.
Both Jeff and Leonora, 49 and 52, are registered nurses with advanced credentials.
Even the decision to enter the medical field was based on the couples' desire to secure high paying, dependable work. They went back to school for their nursing degrees (paying cash of course) and graduated in 1996.
I would like to hit the $1 million mark before I'm 50 (in 13 years) but I'm way behind as I was a SAHM for a couple of years and worked part-time while my kids were small. My husband will be no help in this regards so I'm on my own in my quest. But I think I can do it.
My husband and I listen faithfully to Dave Ramsey who gives financial advise. If you go to daveramsey.com you will be able to find the radio station in your area. He is a wizard. We are on our way to being debt free except the house by December next year and are anticipating being millionares by the time we retire. We are both 33 years old, no children yet but trying.
That is impressive. I could see DH and I doing that if we didn't have children. We save 25% of our gross income every month and max out our Roth IRAs every year and have other investments we contribute to as well as the mas 403B pre-tax at the hospital where I work.
With children there are other concerns.....
You are actually doing VERY well with you savings. Saving 25% gross PLUS matching your Roth and 403(B)? GOOD JOB!:yelclap:
... Way better than most single folks and people with no kids.
a million dollars ain't what it used to be. i wouldn't call that a measure of much wealth, especially 20 yrs from now.
considering where the country is headed after years of bush adminstration deficits connected to tax cuts for the very rich (not to mention we'll have blown enough in iraq to save the social security system for the next 75 years -twice), i think even a millioinaire may be looking at working till he/she drops. of course, the very, very rich will be better off, which is what matters to our friends in the white house. it's nice to have a president with priorities.
considering where the country is headed after years of bush adminstration deficits connected to tax cuts for the very rich (not to mention we'll have blown enough in iraq to save the social security system for the next 75 years -twice), i think even a millioinaire may be looking at working till he/she drops. of course, the very, very rich will be better off, which is what matters to our friends in the white house. it's nice to have a president with priorities.
Let's not go there please. Let's leave the politics out of this.
a million dollars ain't what it used to be. i wouldn't call that a measure of much wealth, especially 20 yrs from now.
considering where the country is headed after years of bush adminstration deficits connected to tax cuts for the very rich (not to mention we'll have blown enough in iraq to save the social security system for the next 75 years -twice), i think even a millioinaire may be looking at working till he/she drops. of course, the very, very rich will be better off, which is what matters to our friends in the white house. it's nice to have a president with priorities.
I'd have to say it is better than the LESS THAN 1% that Americans are saving right now.....
so that would be:
if you made $50,000 over 40 years-------$500/year x 40 years=$20,000 total
I just took a look at my 403K as I periodically do and I'm horribly depressed. Not one single fund out of the dozens there made any returns the last three months. 10% of my salary for three months gained me about maybe $200.00 bucks in my plan. Gee at this rate I'll be a millionaire in about 1000 years. I can take heart that the 12 month returns have been close to 10% which is awesome, but I'm getting concerned that it is all going to be erased.
i just took a look at my 403k as i periodically do and i'm horribly depressed. not one single fund out of the dozens there made any returns the last three months. 10% of my salary for three months gained me about maybe $200.00 bucks in my plan. gee at this rate i'll be a millionaire in about 1000 years. i can take heart that the 12 month returns have been close to 10% which is awesome, but i'm getting concerned that it is all going to be erased.
i know just what you mean tweety i have been down some pretty rough revenues over the years but here lately these times seem more depleted than than what i remember.
at least you have gained the $200.
sit still, slide backward or inch forward, its still the best out come even if it feels puny is what i have to remind myself all the time so i don't just throw in the towel.
i know just what you mean tweety i have been down some pretty rough revenues over the years but here lately these times seem more depleted than than what i remember.
at least you have gained the $200.
sit still, slide backward or inch forward, its still the best out come even if it feels puny is what i have to remind myself all the time so i don't just throw in the towel.
daye, i didn't say what really happened sorry. i really didn't really gain $200 when you considered i contributed over $2000. i had $2000 in my hand and just threw $1800 of it in the garbage can and burned it. that's the way it feels.
i contributed $2000.00 to my account but the balance rose by only $200.00. ouch.
the only reason i gained anything at all is about 45% of it is in in "fixed income" which gained a whopping 0.3% interest those three months.
Daye, I didn't say what really happened sorry. I really didn't really gain $200 when you considered I contributed over $2000. I had $2000 in my hand and just threw $1800 of it in the garbage can and burned it. That's the way it feels.
I contributed $2000.00 to my account but the balance rose by only $200.00. ouch.
The only reason I gained anything at all is about 45% of it is in in "fixed income" which gained a whopping 0.3% interest those three months.
I look at my stock investments from a "shopping" perspective. When the market goes down, that means that the stocks are "on sale" and the money I am contributing now is buying up shares at a cheap price. I think to myself, "Ooooo, they're having a sale! I'm glad I am buying some shares this pay period because I'm getting them cheap!"
With things down now, I am planning on making my annual deposit into my Roth IRA soon to take advantage of the low, low prices. :-) I don't want to put it off much longer and risk having the prices go up before I buy.
care4ppl
17 Posts
My husband and I listen faithfully to Dave Ramsey who gives financial advise. If you go to daveramsey.com you will be able to find the radio station in your area. He is a wizard. We are on our way to being debt free except the house by December next year and are anticipating being millionares by the time we retire. We are both 33 years old, no children yet but trying.