July 2014 Early Retirement Progress

We contributed $3,292.35 this month to our retirement accounts  We “lost” $7,215.19 in interest this month, pretty much wiping out the gains of June, but such is the market.

I put in $900 into our taxable account to sort of make up for the lack of contribution to a retirement fund, and of course, it was deposited and purchased stocks at pretty much the peak of this month.  We almost have enough in the taxable account to get into a mutual find vs the ETFs we’re in now.  There are short term trading fees on one of the ETFs (90 days), so I may have to wait a bit before selling to buy the mutual fund though – and I’ll take the capital gains.  Hopefully, I can get that in before the end of the year, so that we can offset some of those with deducting all of our moving expenses (estimated at 10k).

I won’t be able to contribute more to my Lending Club account (PA residents can’t buy new loans, but they can hold them and buy them on FolioFN).  I don’t want to mess around with buying loans, so I’m just going to let my existing loans run their course, and that’s that.  I haven’t considered whether I will sell the ones I have though (~$400).  Because the balance is so low, I’m not very diversified, but I’m also in mostly A and B loans, which don’t have a high risk of default, so I lean towards just waiting 3 years ’til they all “run out”

The markets have not been good to us this month, but for the year, they’re still doing pretty well, and I suspect we’ll still be able to “meet” our goal of just over 20k in gains this year.

2014 Totals

So far, for 2014, we’ve contributed $23,098.78 (57.75% of the new goal of 40k), and we’ve gained $15,183.43 in investment gains (74.94% of our planned total).

2 thoughts on “July 2014 Early Retirement Progress

  1. evenstevenmoney

    I like the contribution goal so far, great work. Investment gains can be a little tough to track since it’s out of your hands, seems tough to tell you that you failed since Microsoft went down 10%;)

    Reply
    1. Mom Post author

      The important goal is how much we contribute, and that’s doing well. Ultimately, the end goal is an amount that we can live off of for 30+ years, and we may have to change our contribution goals to meet that end goal based on what the market does.

      Reply

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