Goals, Retirement

Midyear Retirement Funding Checkup (One Month Late): Taking A Look At My 2008 Contribution Goals

Back in December, I posted my financial goals for 2008.  I thought it my be interesting to see how I’ve done, seven months into the year.  The chart below details my retirement and education savings contribution goals.

Account Amount Progress
My 403b $15,500 $9,041
My Wife’s Pension $2,000 $1,166
Daughter’s ESA $2,000 $0
Son’s ESA (’07,’08) $4,000 $0
My Roth $5,000 $5000
My Wifes’ Roth $5,000 $0
Total $33,500 $15,208

The pretax contributions highlighted in yellow are automatically withdrawn from our paychecks.  Those in green are contributions to Education Savings Accounts for our kids.  As you can see, I haven’t contributed to their ESAs yet, and I actually missed the opportunity to fund my son’s ESA for 2007.  The contributions highlighted in pink are after-tax contributions to our Roth IRAs.  We fully-funded my Roth IRA back in January and we hope to fully-fund my wife’s Roth IRA in December.

By the way, my goals for my retirement contributions are based on the maximum allowable contributions for 2008.  Click here for information about 403b and Roth IRA contribution limits for 2008.

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