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Old 05-16-2012, 01:52 PM   #41
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Good for you, thatgirl! It is so exciting to see how fast the money can pile up when you pay attention. You are sacrificing a lot to get where you are want to go, money-wise and life-wise, and that kind of discipline bodes very well for your future.

I just did a back of the envelope number-crunch of what we've saved since 2005 and it is really, really remarkable. So much so I keep pulling out the envelope to check! But I remember quite well being where you are today, as far as my financial education and savings. Keep reading, and keep saving! Thanks for the update, too!
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Old 05-16-2012, 01:59 PM   #42
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Good job! Just a small thing, but you might want to change the VTSMX to VTSAX and reduce your expenses a bit.

Otherwise, keep up the good work.
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Old 05-16-2012, 02:51 PM   #43
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Thank you for the encouragement, Sarah in SC and ronocnikral! I will definitely be changing over to VTSAX to reduce my expenses. Here's to saving : )
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Old 05-16-2012, 03:01 PM   #44
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Right on track. Feels good, doesn't it? So, have you started working on your next set of targets?
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Old 05-16-2012, 03:16 PM   #45
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Awesome progress! Keep it up.
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Old 05-16-2012, 03:25 PM   #46
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MichaelB, my next target is 50k by June 2013. I'm striving for over 100k by the age of 30.
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Old 05-16-2012, 03:41 PM   #47
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Quote:
Originally Posted by thatgirlmjl View Post
MichaelB, my next target is 50k by June 2013. I'm striving for over 100k by the age of 30.
Be careful not to set your target goals on too strict a time/amount. The reason being that the larger your account grows the less incoming savings will drive its growth and the more stock market swings and returns will influence the total amount.

In the long run this is a good thing (the market will work for you), but be prepared for years where your contributions are not even making up for losses. Other years you'll see that the returns dwarf what you're putting in. The key is not to let any of this discourage your rate of savings, just keep putting it in there no matter what.

Again, great job!
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Old 05-16-2012, 03:45 PM   #48
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Good luck with that goal. Saving early in life is very enabling and gives you opportunities later you otherwise might not have.
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