what are your financial goals?

[Dear Summer]

how much money in the savings, how much to invest in 401k, 6-12 months worth of expenses tucked away for rainy days?, etc.

I've wasted too much time and money as a youngster so now I'm living frugal to make up for lost time

 

[dr150]

Blow your money while you can.

We'll be all under water in a couple of years anyways.

 

[coldmeat]

Right now my only goal is to make enough money to go back to school.

 

[IamDavid]

1 goal- retire at 55. 32 now and well on my way. Kids college paid for, house almost done....

 

[Dear Summer]

Originally posted by: IamDavid
1 goal- retire at 55. 32 now and well on my way. Kids college paid for, house almost done....

share your secrets

 

[Jumpem]

Put 10% into wife and I's 401k. Working on saving up $25k as a starting place for a rainy day fund.

 

[rudeguy]

Here is my dead honest plan:

1. pay off driver responsibility fees
2. hire a lawyer and get my license back
3. get a solid 3 months expenses saved
4. start paying down debt
5. get credit back into decent shape
6. save up ~50% down payment on a fixer upper house
7. work until I die

 

[RKS]

I don't plan on ever fully retiring. I will cut my hours and do more pro bono work but I would be too bored without work. My current financial goal is to buy that 30" Dell monitor this week.

 

[Red Squirrel]

I have 30k in the bank. My goal is to buy a house; I've been looking at some lately and I also have a real estate agent who is keeping an eye out for me as well.

Once I find the perfect house (or near perfect - I'm willing to do some work on it) then I want to try to put like 20-25k down, then I'll pull out my bell shares (got about 4-5k right now, and they're low) then use the rest of my money for appliances, etc. From that point on my main goal will be to pay off the mortgage as fast as I can. I don't like debts. It will be tight at first compared to now but think it will be worth it. Living at home right now. Thankfully my parents aren't charging me rent, which is nice.

My parents keep pushing me to get a GF though. I even have a date setup. So that might totally change up my plans but hopefully not. She does sound like a nice girl, and she's into computers, so I might have scored...

 

[Dear Summer]

Originally posted by: RedSquirrel
I have 30k in the bank. My goal is to buy a house; I've been looking at some lately and I also have a real estate agent who is keeping an eye out for me as well.

Once I find the perfect house (or near perfect - I'm willing to do some work on it) then I want to try to put like 20-25k down, then I'll pull out my bell shares (got about 4-5k right now, and they're low) then use the rest of my money for appliances, etc. From that point on my main goal will be to pay off the mortgage as fast as I can. I don't like debts. It will be tight at first compared to now but think it will be worth it. Living at home right now. Thankfully my parents aren't charging me rent, which is nice.

My parents keep pushing me to get a GF though. I even have a date setup. So that might totally change up my plans but hopefully not. She does sound like a nice girl, and she's into computers, so I might have scored...

how old are you? if you don't mind sharing

 

[dbk]

Originally posted by: RedSquirrel
I have 30k in the bank. My goal is to buy a house; I've been looking at some lately and I also have a real estate agent who is keeping an eye out for me as well.

Once I find the perfect house (or near perfect - I'm willing to do some work on it) then I want to try to put like 20-25k down, then I'll pull out my bell shares (got about 4-5k right now, and they're low) then use the rest of my money for appliances, etc. From that point on my main goal will be to pay off the mortgage as fast as I can. I don't like debts. It will be tight at first compared to now but think it will be worth it. Living at home right now. Thankfully my parents aren't charging me rent, which is nice.

My parents keep pushing me to get a GF though. I even have a date setup. So that might totally change up my plans but hopefully not. She does sound like a nice girl, and she's into computers, so I might have scored...

:thumbsup: Sounds great!

 

[imported_Imp]

Have enough savings so that I could live off the income from the interest alone. That and buy a house/condo.

 

[Miramonti]

I don't have any financial goals. I live like I don't make any money, so when I don't I'm prepared, and when I do I save. I work very hard to do my best, and if it pays off that's great, and if it doesn't, I've done my best.

 

[Dear Summer]

Originally posted by: Imp
Have enough savings so that I could live off the income from the interest alone. That and buy a house/condo.

yeah, so if I wanted to do that, that would require 24000 in interest per year = 2000/month (at the low end).

using a 5% interest rate, I would need to have roughly $500,000

 

[Red Squirrel]

Originally posted by: Dear Summer

Originally posted by: RedSquirrel
I have 30k in the bank. My goal is to buy a house; I've been looking at some lately and I also have a real estate agent who is keeping an eye out for me as well.

Once I find the perfect house (or near perfect - I'm willing to do some work on it) then I want to try to put like 20-25k down, then I'll pull out my bell shares (got about 4-5k right now, and they're low) then use the rest of my money for appliances, etc. From that point on my main goal will be to pay off the mortgage as fast as I can. I don't like debts. It will be tight at first compared to now but think it will be worth it. Living at home right now. Thankfully my parents aren't charging me rent, which is nice.

My parents keep pushing me to get a GF though. I even have a date setup. So that might totally change up my plans but hopefully not. She does sound like a nice girl, and she's into computers, so I might have scored...

how old are you? if you don't mind sharing

22. This summer will be my 2nd year working full time. I lived at home for college and got a job months after I graduated, so that helped a lot. I came out with no debts.

 

[Mo0o]

Pay off student loans
Gross 300k between my wife and I
-Save/pay for house
-Save for kids/futurekids college
-Save for retirement by maxing 401k etc etc

 

[liluqt]

Originally posted by: RedSquirrel

Originally posted by: Dear Summer

Originally posted by: RedSquirrel
I have 30k in the bank. My goal is to buy a house; I've been looking at some lately and I also have a real estate agent who is keeping an eye out for me as well.

Once I find the perfect house (or near perfect - I'm willing to do some work on it) then I want to try to put like 20-25k down, then I'll pull out my bell shares (got about 4-5k right now, and they're low) then use the rest of my money for appliances, etc. From that point on my main goal will be to pay off the mortgage as fast as I can. I don't like debts. It will be tight at first compared to now but think it will be worth it. Living at home right now. Thankfully my parents aren't charging me rent, which is nice.

My parents keep pushing me to get a GF though. I even have a date setup. So that might totally change up my plans but hopefully not. She does sound like a nice girl, and she's into computers, so I might have scored...

how old are you? if you don't mind sharing

22. This summer will be my 2nd year working full time. I lived at home for college and got a job months after I graduated, so that helped a lot. I came out with no debts.

Wow. How old were you when you graduated? I'm envious and wonder if I would have been able to save up that much if I didn't have a BF and small petting zoo coming out of college Sounds like you're well on your way to achieving your plan though so good for you. Most people I know in their 20s are still partying it up like there's no tomorrow and living paycheck to paycheck.

 

[Dear Summer]

I have a question.

I have a Roth 401k through my work which I put a % of my taxed income into. Should I plan to open a separate Roth IRA as well? I focus on putting as much as I can into the Roth 401k that my company matches up to 6%

 

[nageov3t]

I have enough in savings right now that I could survive for 3 months assuming moderate expense cuttings literally no money coming in... now that all my debt is paid off, I'm working on increasing that to 6-9 months.

 

[Red Squirrel]

Originally posted by: liluqt

Originally posted by: RedSquirrel

Originally posted by: Dear Summer

Originally posted by: RedSquirrel
I have 30k in the bank. My goal is to buy a house; I've been looking at some lately and I also have a real estate agent who is keeping an eye out for me as well.

Once I find the perfect house (or near perfect - I'm willing to do some work on it) then I want to try to put like 20-25k down, then I'll pull out my bell shares (got about 4-5k right now, and they're low) then use the rest of my money for appliances, etc. From that point on my main goal will be to pay off the mortgage as fast as I can. I don't like debts. It will be tight at first compared to now but think it will be worth it. Living at home right now. Thankfully my parents aren't charging me rent, which is nice.

My parents keep pushing me to get a GF though. I even have a date setup. So that might totally change up my plans but hopefully not. She does sound like a nice girl, and she's into computers, so I might have scored...

how old are you? if you don't mind sharing

22. This summer will be my 2nd year working full time. I lived at home for college and got a job months after I graduated, so that helped a lot. I came out with no debts.

Wow. How old were you when you graduated? I'm envious and wonder if I would have been able to save up that much if I didn't have a BF and small petting zoo coming out of college Sounds like you're well on your way to achieving your plan though so good for you. Most people I know in their 20s are still partying it up like there's no tomorrow and living paycheck to paycheck.

I was 20 when I graduated, maybe early 21 as I can't recall the month the grad was (my birthday's in may, so it would of been the year I turned 21). Was just a 3 year program, but enough to get me a job, which is what I wanted. I was never really a partyer so that probably helped a lot. I'd go out and stuff, but nothing major. 20-40 bucks here and there.

So yeah so far I think my financial goals are going well. People my age really want their independence and want to be away from parents, but I think if they provide a roof over my head at no charge and aren't kicking me out, I may as well make the most of it and save up for my own property, so I count myself lucky to be in this situation even though some days I just wish I was on my own.

Also I'm fairly sure my job is very secure. I'm in IT and I'm no longer at the bottom of the seniority list. The company restructurings sometimes scare me, but so far nobody in IT has been a target. We are understaffed to begin with. It's mostly managers that are affected by the restructuring, so far.

 

[Engineer]

Pay for kids college and retire. I often dreamed of retiring early but one screw up brought me back to reality...and the stock market meltdown from October 2007 - March 2009 did nothing to help. I often wonder if I shouldn't just blow the damn money and let someone else worry about me in retirement (seriously). Others around me have spent like wild and buy whatever they want while I saved (over saved) like hell for years and I really don't have much more than they do now. Quite saddening really.

Good luck and remember, plans change quickly.

 

[RKS]

Originally posted by: Engineer
Pay for kids college and retire. I often dreamed of retiring early but one screw up brought me back to reality...and the stock market meltdown from October 2007 - March 2009 did nothing to help. I often wonder if I shouldn't just blow the damn money and let someone else worry about me in retirement (seriously). Others around me have spent like wild and buy whatever they want while I saved (over saved) like hell for years and I really don't have much more than they do now. Quite saddening really.

Good luck and remember, plans change quickly.

unexpected pregnancy?

 

[Red Squirrel]

Originally posted by: RKS

Originally posted by: Engineer
Pay for kids college and retire. I often dreamed of retiring early but one screw up brought me back to reality...and the stock market meltdown from October 2007 - March 2009 did nothing to help. I often wonder if I shouldn't just blow the damn money and let someone else worry about me in retirement (seriously). Others around me have spent like wild and buy whatever they want while I saved (over saved) like hell for years and I really don't have much more than they do now. Quite saddening really.

Good luck and remember, plans change quickly.

unexpected pregnancy?

surprise preggers!

Yeah, that can kill a financial or even other plans. I really don't want kids... I rather have 10 cats or something.

 

[Engineer]

Originally posted by: RKS

Originally posted by: Engineer
Pay for kids college and retire. I often dreamed of retiring early but one screw up brought me back to reality...and the stock market meltdown from October 2007 - March 2009 did nothing to help. I often wonder if I shouldn't just blow the damn money and let someone else worry about me in retirement (seriously). Others around me have spent like wild and buy whatever they want while I saved (over saved) like hell for years and I really don't have much more than they do now. Quite saddening really.

Good luck and remember, plans change quickly.

unexpected pregnancy?

No, got greedy and was going to be rich. Plowed all of my money + margin into a sure thing stock and lost "more" than I started with. Let's just say it will take DECADES (plural) to write off the losses.

I've had "TWO" (again, plural) vasectomies (sp?) so I sure the hell hope no surprise pregnancies, lol!

By the way, my kids are what kept me going when I was going through that mess (middle-end of 2007). Without them, I'm not so sure that I would be posting right now.

 

[Zugzwang152]

Currently trying to expand my rainy day savings from one month to a more comfortable 3-6 months.

I'm also saving for a down payment on a condo and a new car. My car is 5 years old now and I know I'll need a new one by the time I save enough for it.

I've been meaning to open a Roth IRA, but house takes priority now since I still have a 401k to contribute to.