401K Update

The last time I posted about my 401k, I believe I had just around $30,000.  At the time I had no intentions of switching jobs - so I was assuming that I would become fully vested in all of the money.  Well I did end up switching jobs so I will have to take a hit on some of that money, however I will still be ahead in the long run. 

At my previous job I was not contributing at all to my 401k.  My employer was contributing 3%.  At my new job my employer contributes up to 4.5% as a match.  There was a 90 day waiting period to start the 401k so I have just recently began to receive contributions with my current employer.  I am currently contributing 4.5% and receiving a match of 4.5%.  I want to have as much available as possible from my paycheck to pay down debt, but I cannot pass up free money.  The best part is that my employer contributions are 100% fully vested from the start!  I think that is pretty awesome.  I am happy that I am currently saving 9% of my income towards my retirement.  Once our debt is paid off I would like to start having my husband begin contributions of some kind too.  His employer does not provide any contributions to retirement savings. 

Currently, my vested portion of my 401k balance is around $38,000.  For a long time my goal was to have my 401k balance be higher than my credit card debt.  It just occurred to me that I have reached that goal!  That is exciting but given our other debt - overall our net worth is still in the negative.  So the total amount of our debt is greater than the total amount of our assets.  It wont be long for that to change so I will tell you when that happens.  Untill then, it will be exciting to watch this money continue to grow.