re: What are your realistic 5 year financial goals?

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Was this started for you as a kid?

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Definitely. It was all my college fund I didn't spend. Best decision I made financially for myself was going on a full ride to Bama instead of a 50% ride to Tulane. I am very lucky and most of the numbers stated above are not my own doing.

ETA: Croacka may want to look at this.

I'm 29. In 5 years I want to:

Have 150k in 401k, 50k in Roth, 25k in HSA and 25k in dumb savings.

Have the remaining 50k in student loans paid off.

Be making at least 115k/yr.

Purchase 3rd home. (Purchasing my 2nd this year.)

Have enough to keep the 2nd and use that as rental income... may still keep the first, I'm working on the numbers right now, but if I want to keep the 2nd eventually it makes more sense to keep this current home as a rental too. I've heard it's worth the effort after you have 3-4 rentals. I have about 55k in equity though, so selling now with go a long way to knocking off the student loans.

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Well I'm set to be married in a year. Two incomes, so expenses are cut in half

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Goals for the next 5 years
- Finish paying off boat - should be done in about 4-5 months
- buy new car for the wife - cash
- Make sizeable dent in the mortgage. I'd like to have it paid off in 10 years. Will be done at least before son starts college.

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Either of you care to share your spreadsheets, w/out numbers, with a newbie so I have a template?

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2nd this

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How old are u

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Old.

Currently 28, so by 33-35-ish:

$500k net worth

$200k+ 401K, and maxing contribution plus additional

New home ("forever" home). At least $100k equity in this as well.

$75k in investments. Hopefully more, but we'll see how these others contribute.

Contribute to Roth as long as eligible. Then consider backdooring into it.

$10k in son's college savings (investments).

Try to find side business/income. Either rental/real estate, car sales, drafting, start a business, etc. Something. I think I have more to offer than where I'm at now.

Potentially be in a place for wife to quit working/retire. If she can work a few more years after this, will be eligible for partial pension.

Recently convinced wife and regained control of spending. Minus trips, have cut spending in half. She also started side business making money.

sure. post your email and I'll send it your way

I'm 37. At 42 would like to have:

-At least $700k in retirement accounts. At 280k now and have recently ramped up contributions due to increased income.

-No interest bearing debt except house. Really this just means paying off student loans. Have 10k left on private school loans and 50k left on federal school loans (might just continue to pay minimum on these because rate is locked in at 2%).

-Be on track for 2 kids' college funds (3 year old and soon to be born child now and haven't started). Not sure what this looks like but I'm assuming at least a couple hundred dollars per month per child (more for the older child since will be playing catch up).

We recently bought a house that feels too expensive and I hate how much I pay on the mortgage (and it's a 30 year mortgage). I'm hoping my income grows into it to where it doesn't feel like such a stretch. It already feels a little better this year than last. It should be our "forever" house.

My 5 year goal is to make, not save, as much money as possible.

Just turned 40. I'd like to have net worth of 1M before I'm 50.