Positive Change In IRA Value
Posted on: May 14, 2009 by Matt
A lot of people writing about personal finance seem to have quite a bit to say about investing and investment strategy. However – I do not invest much at all. The total of my investments is the roll over IRA I have from a 401K plan I had with an old employer. Why do I not invest? Do I not understand the importance? Well – mostly because I am trying to eliminate my debt prior to putting money away for retirement. I do plan to invest in the long run but right now it does not fit all that well into my budget.
That said - I still do have the one IRA account that I normally do not pay much attention to. When my statement came in the mail earlier this week I noticed that it still had an old address on it (since we moved) and figured I should open it up and give them a call to update the address. I had not checked the balance on the account since transferring it over to a new institution (I moved it to a local firm with somebody that I know from high school). So I was pleased this month when I discovered a 10% increase in the plan value.
I know these numbers go up and down frequently but was still rather impressed given the current economic state. When I spoke with my financial advisor he noted that he has been seeing some action lately that makes him hopeful we are on the way to recovery. He also believes that people who stayed in through the economic downturn or are just buying in now should see some pretty good results if the trends continue.
I for one have had enough with the crazy econcomic news and am looking forward to a positive change. I hope that my advisor is correct and we do start to see a turn around!
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TagsBudget, Economy, Personal Economy, Personal Finance Filed Under: Budget, Goals, Personal Finance Team
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
Thanks Allen!