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05-16-2012, 12:52 PM
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#41
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
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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!
__________________
One day your life will flash before your eyes. Make sure it's worth watching.
Gerard Arthur Way
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05-16-2012, 12:59 PM
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#42
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Full time employment: Posting here.
Join Date: Apr 2010
Posts: 853
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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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05-16-2012, 01:51 PM
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#43
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Dryer sheet wannabe
Join Date: Dec 2011
Location: Abu Dhabi
Posts: 22
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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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05-16-2012, 02:01 PM
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#44
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,696
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Right on track. Feels good, doesn't it? So, have you started working on your next set of targets? 
__________________
In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.
― Rudiger Dornbusch
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05-16-2012, 02:16 PM
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#45
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Full time employment: Posting here.
Join Date: Feb 2012
Posts: 648
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Awesome progress! Keep it up.
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05-16-2012, 02:25 PM
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#46
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Dryer sheet wannabe
Join Date: Dec 2011
Location: Abu Dhabi
Posts: 22
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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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05-16-2012, 02:41 PM
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#47
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Full time employment: Posting here.
Join Date: Feb 2012
Posts: 648
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 Quote:
Originally Posted by thatgirlmjl
MichaelB, my next target is 50k by June 2013. I'm striving for over 100k by the age of 30.
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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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05-16-2012, 02:45 PM
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#48
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,696
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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.
__________________
In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.
― Rudiger Dornbusch
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