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Two Month Review

October 1st, 2016 at 05:24 pm

Two months into my new second job & I feel more squeezed than ever. Maybe having a second job gives a false sense of wealth. I have somewhat over-extended myself with my increased savings.

I am contributing 50% to the 401(k) & $500 to my Roth IRA every paycheck. I had not contributed anything to my Roth IRA since last year. If I contribute $500 for the last 11 pay periods of this year & the first 11 pay periods of next year, I'll have met my maximum contributions for this year & next year. Then I'll have $500 more every pay check.

I'm excited that I'll be able to max out 3 retirement plans next year: my Roth IRA, my TSP, & my 401(k). I am making a lot of hours, but I don't want to complain as I have been searching for another job for some time. This job is a blessing & I see how my retirement savings have grown these past 2 months. Now to decrease the debt.

4 Responses to “Two Month Review”

  1. rob62521 Says:

    Wow, you are doing well if you can max out all three retirement plans!

  2. PatientSaver Says:

    You're doing good! Keep it up!

  3. snafu Says:

    Since you mention CCs, I noticed a link on SA Forum for no fee, 0% interest transferyou might find helpful.
    https://creditcards.chase.com/a1/sla...ff/15-31340/na

    You will need to run the numbers to see if it's beneficial in your specific circumstances

  4. terri77 Says:

    Thank you very much, snafu!

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