So one of my fave PF bloggers (J. Money over at Budgets are Sexy) is aiming to have a million in the bank before he retires. With his Millionaire Club, he inspired me to make some goals as well. And seeing as we're still in resolution territory, I thought it would help steer me in the right direction for the new decade and hopefully inspire a few of you out there!
How I'm Going to Retire and Live Like Diddy (or something...)
1) Open a Roth IRA this year and max out on contributions annually (that's 5K a year)
2) Establish an emergency fund (around 12K) and put it in a high-yield savings account or a no-penalty CD - I'm getting there...
3) Remain credit card debt-free
4) Up my 403b contributions to 10% of my take home pay
5) Put any additional income (raises, bonuses, lottery winnings - ha!) into savings/retirement
6) Continue to monitor my spending and my budgets
7) Continue to live within (or below) my means and not spend impulsively
8) Talk with my husband at least once a month about our money so we're both on the same page
9) Start a "vacation fund" so I can have fun and not feel guilty about it - it can't be all work and no play!
I don't know exactly when I'll get to the cool one-mil figure in my account, but I think if I have a plan, I'll get there eventually! Thanks, J. Money!
Anyone else want to make a Millionaire To Do List? I'd love to hear how you are planning on saving money!