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Stopping deposits to my retirement savings

May 17th, 2014 at 08:24 pm

I have bi-weekly deposits of $100 to an ING savings account that is a holding account for retirement savings. Then I have auto-deposits from that account to my ROTH IRA during the month. More goes into the account then goes out each month, so it now has about $1800 in it.

I decided to stop the $100 bi-weekly deposits to the retirement hold account for at least the summer. Just can't afford it right now. I would just have to take from one savings account to deposit into another. I stopped the auto-deposit today. Hopefully won't have to leave it off for too long.

Funds will still continue to be transferred to the ROTH from the hold account, since I have $1800 in there, that will be fine for about a year, and hopefully long before then I can start putting funds in there again.

I did go in and invested about $2000 more from the cash account in my ROTH to some stocks that have been doing well for me. Been too long since I reviewed my investment accounts. Need to make sure I am being more on top of that. My personal (not including DHs) total retirement is almost $45K. I think I am doing pretty well for 29 y/o.

I am still contributing 6% to my 401K at work, and get a 3% match on that from my employer. No plans to stop that.

2 Responses to “Stopping deposits to my retirement savings”

  1. scfr Says:

    You are doing very well for a 29 year old!
    Stopping the auto deposits to the ROTH makes sense for now. Sometimes we have to put ourselves in "semi-survival-mode" for awhile. I look forward to the day when I read that you are ready to start contributing to the ROTH again. Smile

  2. Banker Gurl Says:

    Thanks scfr!

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