Wednesday, December 15, 2010

20 Financial Milestones

Get Rich Slowly links to 20 Financial Milestones You should reach in your Twenties. I'm doing pretty good (with a few months left in my twenties). Here's what I haven't accomplished:

# 2 – Pay off your student loans
Working on it!

# 6 – Make your first, and last, investment mistake
I don't think I've ever made an investment mistake and I'm not interested in doing so. I don't go for market timing or anything -- just set it up, look for investments that have low or no fees, and -- aside from rebalancing once a year -- leave it alone.

# 19 – Invest $1 for every $1 you spend
What an awesome idea!

# 20 – Start a 529 College Savings Plan
Can we do this before we even have a kid to attach it to? Maybe we'll do that right after we finish paying off our loans.

If you're in your twenties, how many of these goals have you accomplished?


  1. Wow - $1 for every $1 you spend? That is a crazy idea!

    I hate that I'm 30 now and still haven't accomplished most of these.

  2. Almost all, except maybe 4-5 that don't apply to me, like automating my credit card bill payment.

    I check every transaction and then reconcile. I never carry a balance but I never pay blindly.

  3. @FB -- that's how I do it to. I count it as done because it's automatic in that it happens every month -- no balance ever gets carried over. But no one gets direct access to my bank account without me reviewing it first.

  4. # 2 – Pay off your student loans: Still working on it! I have $68,000 in student loan debt from a few degrees. I have paid down a lot and plan to pay down about $20,000 this year. I am 27 years old so I will be pretty close to paying them off by 30!

    # 5 – Build an adequate emergency fund: I have a fund I am working on building. Right now I have about 2 months saved up. 4 more to go!

    # 15 – Set a target retirement date: I work in the nonprofit sector. What is retirement?

    # 19 – Invest $1 for every $1 you spend: Too busy paying off student loans :(

    # 20 – Start a 529 College Savings Plan-Will have to pay for my college first! But this is on my list!

    The rest are complete!

  5. I postedd on this too! I have done or am in the process of completeing most of them, & I'm only 22.
    I've always been financially "ambitious" though had a short period of financial irresponsibility while in my late teens.. so we'll see how the rest of my 20's work out!
    GOod job!


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