Financial Milestones for twenty-somethings. What have you reached?

I first noticed this on BrokeTO about milestones for twenty-somethings. Originally from Kiplinger.

“The following are six milestones that you should aim to hit in your twenties. In most cases, the sooner the better. And for those who already think they are hot stuff, I’ve highlighted ways that you can show you’re a true pro and earn “bonus points” in each area.”

  1. Graduate and move on – I’ve done this. I know what I want to do and I’m happy.

  2. “Bonus Points if you pay off your student debt by age 30.” Haven’t done this yet, but I plan to.

  3. Build a bulletproof network – Currently working on this. I know people in my line of field all over the U.S., due to my work traveling.

  4. “Bonus Points if you hit 500 LinkedIn connections with at least 50% of your connections are outside your existing employer.” I have around 100, so not there yet. But hardly any are from my existing employer.

  5. Fund your emergency fund – currently working on. My goal is $15,000, and I’m at about $6,000.

  6. “Bonus Points if you save a year’s worth of living expenses in your emergency fund and put the funds into laddered CDs so you earn interest on them.” Not yet…

  7. Start a Roth or traditional IRA and contribute – currently doing

  8. “Bonus Points if you contribute the maximum ($5,000 for 2011) to your IRA.” Haven’t done this yet, but I’m working on it!

  9. If you get married, do it humbly – not married yet, currently saving money

  10. “Bonus Points if you keep your total wedding costs to under $5,000.”

  11. Live above your means, buy below your means – I currently do this, kind of, I do have my splurges though.

  12. “Bonus Points if you build a monthly budget.” – Check!

So obviously I’m not doing great, but hey! I’m only 22, so I’m working on all of this.

How are you doing with this list?

#Career #Improvements

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