Goals to Achieve Before Turning Thirty
If you're still in college, the concept of turning thirty isn't even in your consciousness yet. "That's so far away, I have time" is probably what you're thinking. Well you'd be wrong. Time flies and you'll be thirty in the blink of an eye. There are things you need to do and experience before then to prepare yourself for the rest of your life. Let's talk about goals!
Take a Vacation Somewhere Exotic
I bet you weren't expecting to see this on a personal finance website!
One of your goals before you turn thirty should be to travel somewhere truly exotic and far away from home. Malaysia, Australia, Brasil, or any country far away from the comfort of home will do.
Experiencing new culture, people, and views will help you create memories that you will never ever forget. Travelling somewhere exotic could change your life forever. Do it while you're without a family and a ton of responsibility.
The #1 reason why people don't go on a vacation is because of the expense! That's why we're so adamant about managing your money correctly when you're young. We want to give you the ability to have nice things and experience different cultures, but that's only possible when you have the funds to do so!
Learn to Manage Your Money
In order to enjoy all of the nice places and things this vast world has to offer, you need to be able to afford it! Learning to manage your money is the first step in building enough wealth to go experience the world.
"What is money management and what should I know?"
At the bare minimum you want to know how to:
- Balance your checkbook
- Understand how banks work and their fees
- Create a budget
- Manage your debt
- Understand the basics of federal and state taxes
I personally use each of these skills on a monthly basis, including point 5, which you might not think is that important. It is!
If you're missing a few of these, it's okay! These skills are extremely easy to grasp and we have an entire guide (Money Management - What You Need to Know) to help you learn them quickly!
Start Saving for Retirement
This is something that you may find inconsequential, and not worth your time until you're much older, but it's super important! Starting your nest egg early is the key to maintaining financial independence when you're older.
"What the heck does all of that mean?"
Let's break it down:
- Starting younger allows the interest on your investments to compound for a longer time. (This means more money for your retirement..... like A LOT more money)
- Your expenses when you're young are much lower than in your 30s-40s.
- Training yourself to save while you're young gets you into the habit of saving a portion of your income. This habit will continue for the rest of your life and will benefit you immensely when you're 65.
Start saving immediately. It doesn't matter how small it is. Start saving a portion of your paycheck. Your 65 year old self will thank you.
That's it! These are the three main things we suggest you do before you're thirty. We really want to see all of you succeed and enjoy your lives after you graduate. Live a little! Go enjoy the world. But in order to do all of those fun things, you have to have the finances to do so, and that's where we come in.
Remember, we're looking out for you and your future! We have dozens of posts that contain the best personal finance advice we can find. Now, we want to give you our FREE college wealth building video series. If you're ready to take that next step on your path towards success, click the link for details, or sign up to receive it below!
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