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re: What are your goals?
Posted on 2/4/13 at 9:16 am to jimbeam
Posted on 2/4/13 at 9:16 am to jimbeam
I read this board, as often as my time allows, in hopes for answering the questions you ask. I have been treating this board like a survey to get a general consensus on what is the appropriate actions to take in yours 20s, 30s, 40s, and so on...
Right now at the age of 23, I am making a very comfortable salary, and still living with my college roommates. I take advantage of rooming with them to continue to live like I am in college as well. So I am setting money asides in large amounts while it is a possibility.
For now, I want to be able to retire mid to late 50s and be comfortable from then on. I haven't taken enough actions with investing in retirement accounts, but I am slowly but surely coming around to it. I invest in my 401(k) to my company match, and stash a large chunk into savings.
I hope to learn enough in the next few months before I turn 24, to have fixed financial goals for 3-5 years down the road. These goals will allow for me to travel, purchase a home, afford to buy a used car with straight cash homie, and potentially fund a marriage, or any other life changing decisions that appear in this timeframe.
Best of luck to you, and congrats on reading this board while you're in college. I started reading it about 2-3 months out of college and I am very thankful for branching away from the OT and secrant, for more valuable discussions.
Right now at the age of 23, I am making a very comfortable salary, and still living with my college roommates. I take advantage of rooming with them to continue to live like I am in college as well. So I am setting money asides in large amounts while it is a possibility.
For now, I want to be able to retire mid to late 50s and be comfortable from then on. I haven't taken enough actions with investing in retirement accounts, but I am slowly but surely coming around to it. I invest in my 401(k) to my company match, and stash a large chunk into savings.
I hope to learn enough in the next few months before I turn 24, to have fixed financial goals for 3-5 years down the road. These goals will allow for me to travel, purchase a home, afford to buy a used car with straight cash homie, and potentially fund a marriage, or any other life changing decisions that appear in this timeframe.
Best of luck to you, and congrats on reading this board while you're in college. I started reading it about 2-3 months out of college and I am very thankful for branching away from the OT and secrant, for more valuable discussions.
Posted on 2/5/13 at 8:40 am to RickAstley
quote:
For now, I want to be able to retire mid to late 50s and be comfortable from then on.
I see a lot of people stating as a goal to retire relatively early in life 50-60....that leaves 25 to 35 years of life which must be sustained without income in the form of a salary. So how much money do you think it will take to sustain yourself for that long without a job? Consider old age medical needs, etc. In my view it's a lofty goal...you're going to have to save a lot of jack and lead a very frugal life...and it might be a good idea not to have kids.
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