The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: newton on January 10, 2016, 06:04:37 PM
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I started an IRA at age 19 (1990) with $600. Each year I have tried to contribute. I rolled it into a Roth in 1998. My guess (I know I should know) is that I have contributed on average maybe $3K each year (I've maxed the last several years at $5K and $5500. That would mean I have contributed about $75K. It is now worth about $100K.
Does that sound right? What happened to the rule of 72??
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What fees are you paying ?
2.5% can take a big chunk out of an average market gain
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What was your rate of return?
http://www.investopedia.com/ask/answers/04/040104.asp
Remember, only the first $600 has been invested since 1990. It surely has doubled by now, but the $5500 you put in last year hasn't had time to brew.
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What fees are you paying ?
2.5% can take a big chunk out of an average market gain
Indeed - from that link, a 3% ROR takes 10 years longer to double than a 5%!
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What was it invested in? This is the only thing that will help us figure it out. If it was a single company that performed poorly or perhaps a bond fund, you're not going to see large capital gains that could explain things.
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Thanks. It was invested with Thrivent up until last year when I switched to Vanguard (due to the fees). I have always invested in aggressive growth funds.