Yesterday I released my 2009 goals, and today I’m focusing on a full year down the road. Still sort of short-term? Maybe, but I’m young and i have no idea where I’ll be at age 30. My one year goals actually are a year as of this past August. August is when I first started saving, and it will be interesting to see how far I can come in my first of year in the real world. So, the 2010 goals:
By August 15th:
- Increase emergency fund to $5,000
- Have a subsavings account of $6,000
- By December 31st:
- Save $5,000 in retirement (Roth 401(k) and Roth IRA combined)
Since I will have $3,000 in my savings account to start the year, this amounts to an extra $2,000 in savings. So my goal, ultimately, is to have $8,000 saved by the middle of August. That’s a little more than $1,000 a month. That seems like a lot and will likely leave me with only a little bit left over to invest, but at this point in my life, I am not sure that I would be willing to wait a year to avoid paying an extra 10% “penalty” that the short-term rate includes.