We contributed $4,817.72 this month to our retirement accounts We gained $6,479.76 in investment gains this month.
We’ve now contributed over our annual goal of $40k into our accounts – one month early. One big thing that helped us is that my company match changed from 4% to 8%. The other thing that helped is that both Dad and I are now maxing out our 403(b) plans.
I learned something interesting during open enrollment for Dad – he has a “mandatory” 2% contribution to a 401(a) plan – and it doesn’t count “against” the IRS limit of 17,500 (for 2014). The IRS limit is for “elected” contributions, and the 2% isn’t elective, so he’s really getting to put aside almost $20,000 through his company’s plan this year. We just clicked the “take the maximum out” checkbox in February and left it at that. And as of January 1, 2015, he’ll be fully vested in his 401(a)/403(b) plans. I still have to wait three years to be vested in my 8% match.
Next year, we’re hoping to contribute up to $70k via company plans, Roths, an HSA and our taxable accounts. We *might* squeak out $75k. I’m inordinately excited about how much we can save towards our retirement next year! That makes me weird in a good way right?
So far, for 2014, we’ve contributed $40,891.98 (102.23% of our goal of 40k), and we’ve made $32,079.22 in investment gains (158.33% of our planned total).