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Tiny Raise

July 25th, 2013 at 04:04 pm

The extremely tiny raise that they had been talking about around work finally came through. When I got back to work, there was a letter waiting for me notifying me of this. It means that I get about $54 more in my paycheck each month. I will put it towards the EF.

In another update, I also received the PIN number for my retirement account and I know know how much I have in there. It currently stands at $9061.54. It seems like a teeny-tiny amount when I think of retirement, but I am reminding myself that it was only started about two years ago, it will grow, and that this is in addition to a pension that I will have.

6 Responses to “Tiny Raise”

  1. creditcardfree Says:

    We all started with small amounts of money in our retirement. It does grow...just keep adding to it and when it is time to use it you will be very thankful!

  2. Petunia 100 Says:

    9k is a great start! I remember when I was excited to break 1k, lol.

    To make the most of your retirement dollars, you should make a reasonable asset allocation plan and keep your costs as low as possible. "Asset allocation" just means how much in stocks, how much in bonds, etc. In stocks, you probably want to have US large, US small, and foreign. Inside your 401k, if you have a choice between several funds in the same category (i.e., US large), the cheaper fund is often the better choice.

    Congrats on the raise. Any raise is a good raise. Smile

  3. CB in the City Says:

    Sounds like the kind of raise I get!

  4. IndianGal Says:

    Thanks.

    Petunia - I don't know what my asset allocation plan is. I will look into it - I suspect that my employer may have invested it for me? I am not sure - I will check.

  5. soogar Says:

    Wonderful! That money will accumulate quickly if you don't touch it. Even if the stock market goes down, you are still acquiring stock at a cheaper price and will benefit when there is a market upswing.

  6. mamasita Says:

    Just keep contributing, and it will start to add up. I really like using the "balance over time" graph feature that my plan offers online, I need visuals to show me how far I've come and what number I am working on next.

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