Once again looking back on our 5 financial goals for 2008. Our third goal for the year was:

3.) Fund at least $4,000 in our ROTH IRA’s
I have to admit, before purchasing our new home I was doing a lot better with the ROTH savings. I slacked in 2007 and even in 2008 $4,000 is less than I would like to commit but seems like realistically possible. That however means savings of about $333/mo which has not happened in January so we are already behind.

Overview

My wife and I currently have 2 separate ROTH IRA funds. My ROTH is through Vanguard and I have a direct deposit setup from my paycheck to deposit $75 there (biweekly). My wifes ROTH is through T. Rowe Price and she currently contributes $50 per month.

Goal Progress

So far this year we have contributed $1380 to our ROTH IRA’s. This represents progress of only 34.5% towards the goal for the year when we should be 75% there.

In order to meet our goal we will now have to contribute $873.33 per month for the rest of the year. This goal has become secondary to our debt reduction, so it was kind of thrown by the wayside. The way the market has been going lately it seems like we actually lucked out on this.

I was ready to admit defeat on this goal a quarter into the year, and now I’m so far off it seems I’ll be lucky if I hit 50% of the goal.