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Retirement! Redemptions! Lane Bryant!

October 20th, 2015 at 04:49 pm

I checked yesterday with our HR person about whether my union had any other retirement plans available other than the one the city contributes to for us. He told me he'd send me info.

I got the info today! There are three different companies offering 457 plans. Contributions are pre-tax, and count towards the tax savers credit (although I *think* my 401(b)contributions do that too ...)

So ... I decided to open a 457 with Ameritas (had the best options = lots of Vanguard Index funds) and put in there the amount that I'm currently putting in my ROTH right now. Of course, since this is pre-tax, it won't actually be the full amount.

So, I'm going to take the "leftover" amount plus a bit more, and continue to add $50/month to my ROTH. That way I'm still adding $600/year to an account I can access penalty free if an absolute emergency occurred before I'm 55 and retired ... but in effect increasing the total amount being saved towards retirement with very little effect on my actual net income. Then when I get my next raise in February, I can add a little to the 457 contribution amount very easily.

Overall, I think it adds maybe 1% to my retirement savings amount - 17% employer/employee match; ~10% to 457, ~.75% to ROTH. I have it set to start in November since my October ROTH contribution has already been set to go.

I love how it says "contribution limits per years are $18k" Hah, hah, ha ...... I'd be rolling in it if I made enough to contribute $18k a year .... Shoot, I'd be retiring in 5 or 6 years instead of 15 or 16 if I made that kind of money ...

I was wishing I hadn't checked my electric car stock today. Ouch. My net worth dropped by ... oh .. $5k or so thanks to stupid Consumer Reports.

Anyways ... I redeemed for a $5 Walmart card from Bounts today - got it in my email oh about 30 seconds later. Smile

Between the Bounts cards and Savings Catcher I have a little over $15 to spend at Walmart. I'm probably going to save them up til I have more like around $50 or so. Or enough for a manicure and pedicure. Smile Nice way to treat myself for doing lots of walking.

Got an email today telling me my Lane Bryant order is at the store! I'll probably go pick it up tomorrow after work. (I was walking home today, so once I got home, just wanted to cool off - not go drive to the store ...)

I found my lanyard with my library card and ID badge! You'll never guess where it was ... if it were a snake it would've bit me. Right under my keyboard on my desk. :roll eyes:

I joined a rewards program for the local Internet company. You can redeem points for cash or gift cards or money off your bill. Works for me. Whatever I can do to get that horrendous bill down a bit is good.

2 Responses to “Retirement! Redemptions! Lane Bryant!”

  1. VS_ozgirl Says:

    Bring on the rewards!! Hope the deal works well Smile

  2. My English Castle Says:

    Nice job investigating the retirement plan.

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