At one point my Roth IRA was rocking and rolling and there was an abundance of money in there. Then last year I withdrew several thousand dollars for different purposes including a home purchase. That house purchase never happened but the money was used after I lost my job. My Roth IRA progress stopped abruptly and I dropped down below the $10k mark.
It’s been a struggle to get back to $10,000 in my Roth IRA.
This was so disheartening because I first hit $10,000 in 2012. To struggle to get back there hurt and made me regret taking money out. At the time it seemed like a good idea and I did need the money but realizing I’d made no progress in 2 years really stung.
When I started a new full time job this year I started contributing to my Roth IRA again. It was only $100 a paycheck but it was consistent. Slowly but surely the amount in the account started to grow again.
Today I finally hit the mark that I’d missed so much: $10,000!
Sure it’s not much. For most personal finance bloggers they’d laugh at this amount. But for me? It’s a huge accomplishment and I’m pretty proud of myself for getting back there despite a bunch of financial setbacks last year. I feel like I’m finally on my way again to some sort of future financial security.
I still love my Roth IRA and am glad to be making progress again with my retirement savings. It’s a nice feeling to be hitting the goals again. My next goal is $15,000 and I’m sure I’ll hit that some time in 2015. Slow and steady is my new motto and plan.
If you haven’t opened a Roth IRA yet then I highly recommend you get started now! Progress can seem slow at times when contributing but it’s even slower if you never start. I recommend using Scottrade because they have a lot of great offers like $100 in Transfer Fees Refunded. No set-up fees. No Annual Fees. It’s super easy to get started and everyone I’ve encountered there has been super great and customer service focused.