A Comparison

After reading about Wells Fargo’s boost to the stockmarket today, I decided to check my 401K for the first time since the holidays. I was about due for my quarterly check in anyhow. While my personal rate of return is abysmal, I figure, whose isn’t at this point. The plus side of the visit today was that my ING plan has a new comparison feature. They plug you in to a comparison system of people like you and tell you how you measure up financially. Here’s what I found out:

The Down

– I pay too much in rent. (no shock there, I live in Los Angeles)

– I have very little in my retirement plan compared to others. (This is interesting to me. Are they comparing me only to other people my age with retirement plans, or other people my age in general? I was shocked by the result here.) I think in part, it’s because I have a high-risk portfolio and I haven’t changed it. While I think a lot of people my age switched to investing conservatively when the market started to go down. I’m likely not going to retire until 2045 (ooof) so I have time to build it up and I’m hoping that through this uptick, it will pay off for me. Time will tell.

 

The Up

– I have much less student loan debt. (Thanks mom and dad and the financial aid department at AU)

– I have much less car debt. 

I’m not too worried about any of these stats. I know everyone’s financial picture is different and a lot of it is about life choices. I mean, I could be a lawyer who lives in Nebraska and have a whole lot more money, but I’m happy where I’m at. It’s also timely because I paid off one of credit cards today–part of our yearly goal–and it’s a great feeling. Eric and I have both been working hard to put whatever extra cash we can towards the goal and then go into house saving mode. I can’t wait to see where we are at the end of the year!

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2 Comments

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2 responses to “A Comparison

  1. Barb (aka tobpa)

    Well done, my child!!! (okay, so it doesn’t mean as much from me, but still, keep up the good work!)

  2. Credit card debt is the number one mood killer. Congrats on paying that off!!!

    Happy Easter!

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