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Archive for January, 2009

Retirement revelations

January 13th, 2009 at 03:30 pm

DH and I opened our Roth's in 2007. For our 2007 and 2008 contributions we did lump-sum contributions, working under the theory that that longer the money was in the account, the longer the money could grow tax-free. Well the market of 2008 certainly nixed that plan, so this year we have decided to do monthly contributions. Our first one comes out after payday this week.

I also looked at my social security statement and discovered that I have contributed *nearly* as much to my Roth as I have made working. (Again, thanks to the market, I don't have that much in the account right now, but I still have contributed that much.) Now for you math wizards out there, you know that since I've maxed out the account both years, I have contributed $9000. Adding up the money I made this summer to the amount reported on my SSA last year, I've made...*drum roll please*... $9100.
I know that's a pathetically low number. I did work for a couple summers as a nanny and that wasn't reported, but I doubt it was enough to even report. I try to look at the glass half full though...there are many people who would love to have as much in their retirement accounts as they've made!

Once I graduate and work as a pharmacist, that number will dramatically increase, so much so that we will no longer be able to take advantage of the Roth IRAs. That's while we're working so hard to fund it now!

Whoops! Expensive lesson.

January 3rd, 2009 at 10:23 pm

So I knew diamonds were just about the hardest thing on earth, and the only thing that could really cut or scratch them were other diamonds. What I didn't realize how big a factor this would play in my wedding ring.

My mom and I were at the mall and she suggested having my ring cleaned. Most stores have your ring cleaned for free, but I never actually get around to it. So since I was at the mall that I actually bought the ring, I decided to do it. Immediately after I give the woman my ring she announces that several of the diamonds have chipped!

My wedding ring has 3 stones on the first band and a row of five or six much smaller diamonds on the second band. I never got around to getting the bands stuck together ("fused"), and honestly, I liked that they moved around. I didn't realize that every time they moved they had the potential of scratching and chipping! Thankfully only one of the 3-stone diamonds was chipped...and not the main one...and 3 (maybe 4) of the smaller diamonds. So 600 dollars later...I should have almost a completely new ring.

This now motivates me to 1. Keep up with regular cleanings to maintain my warranty...every 6 months at least! and 2. Get the jewelry rider on our renters insurance updated. The last time I called I found out that while I was insured for the total cost of my wedding ring, and other jewelry, the "per-piece" maximum is significantly lower than it would cost to replace my ring. So expensive lesson learned!