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April 2, 2004
Redistribution of Investment Pays Significantly
Whan I started at Tufts a few years back I beefed up my retirement allocation, figuring that now's the time to really get serious. In the past had dabbled a bit and put some away here and there, but nothing serious. When I moved to Tufts I put the entire increase in salary towards retirement, split between two different investment firms, Tufts contributions into one, mine into the other.
I didn't look into how the accounts were configured by default, but for three years now I've been getting the statements telling me how poorly my retirement investments have performed. I have thought several times I should change the fund allocations but never got to it. When Pete and I got to talking about saving for retirement I finally got enough excitement/interest to do something.
Last week I spent some time looking through the available fund options and made some changes to diversify and be more aggressive (the default TIAA-CREF fund, money market, grew a measly .7% last year).
Without getting into specifics, I have watched with dropped jaw over the past week as the funds have rocketed up. I guess it's not hard to beat .7%, but watching the difference between how a money market performs vs a index fund is astounding and exciting, each night I check in on the accounts and am continually suprised at how much they grow in just one day.
If anything I have relized that with some attention I can make a significant difference in the growth of my retirement funds. Am definitely going to look into an investment book or two, and try to make a plan which will enable me to continually fine-tune the investments.
Posted by mike at April 2, 2004 11:23 PM
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