Today I found out how much extra I would have to pay into my retirement fund to get the maximum Government match. The problem is that I am short of cash so, I had to give up a part of my investments. I decided to part with 20% of my gold investment. I made 6% in 5 months on gold so, although it is declining sharply, this is a clean profit. I have sold the gold and put the money in my retirement fund. The government will match it by 25% which to me is a great deal.
In 2014, I shall be paying the maximum to my retirement account.
Unless the Stock Exchange plunges, I do not think I will be investing in individual stocks in 2014. I have enough risk exposure to stocks in my retirement portfolio. However, since I have 9,5 years to go before I can touch that money without having to pay extra taxes, I am comfortable with that.
I will be basically purchasing US Dollars and keep a bigger cash cushion in a savings account.
I also will not be purchasing any more gold.
So, based on the above decisions, I have set my 2014 goals which I will be tweaking a little by the end of December.
2014 is an exciting year for me because I will be truly Financially Independent by May-June. This does not mean that I will stop working. I think, I would like to work until June 2023 when I will be 56.
Lately I had been contemplating whether I started to work on a part-time basis too early or not. I cannot see what lays ahead and this somewhat bothers me. I also think my rate is a bit on the low side. I do not know if it would make sense to actively seek a full time job. In any case, I think I should stay put until May.