SET YOUR GOALS! 20k what?!

[amarowsky]

I'm pretty proud of myself. My game plan since I bought my home two and 1/2 years ago, was to save up at least 60k for a downpayment on my next home/dream home I want to live in w/ my girlfriend (eventually wife) until we retire.

Good news is I started saving pretty aggressively after I paid off all my debt except for mortgage the year after I bought my home. So I'm 26, since roughly age 24 and 1/2 I been Squirreling away 25% of every Net paycheck into an investment account. Proud to say that between that and my normal savings I have eclipsed $23,000.00 saved! My goal was to have my $60k by the time I'm 30, so as long as the market doesnt totally take a crap I should be on par to reach my goal. Assuming my current average of 15k saved a year I should be @ my goal in 2.4 years.

I'm just proud of myself because in addition to saving I did not regret any of the times since I have started. I still go on like 4-5 vacations a year, enjoy going out often with friends and family, have some pretty nice stuff, and still managed to help out my family and friends. My mom recently was diagnosed with pancreatic cancer so between my grandparents and I we have to cover a few mortgages and bills while we situated my moms finances.

Making goals gives you the focus to get what you dream and hopefully deserve!

[amarowsky]

I dont want to sound like i'm bragging. But it just feels like a land mark hitting the 1/3 checkpoint to my savings. And considering I started out with nothing and paved my own way though smart spending and discipline. I hope that my story or your stories can help some folks out with setting goals and following them when possible even though rough odds like saving for retirement, loaning money to family for school, paying for parents/family in dire time of need, or something as little as picking up a bar tab for a friend down on his luck. What goes around comes around if you work hard, focus, and give back to the ones who make you, you.

[Barclay]

congrats to all.

I have to have goals. They are my number one motivator and I would not accomplish anything if I didn't have goals completely set up.

I have set my savings goal at $48,000 per year and my husband saves $50,000 per year. It helps us remain focused and throughout the year we can see how well we are doing.

It's wonderful that everyone is setting and achieving their goals. I LOVE IT!

[Blessed]

Great job!! Super impressive because you are starting while you are young.

[MonkeyMama]

Congrats!!

It's always seemed to me that about 90% of the battle is just formulating a plan.

[bjl584]

Good job. Congrats.

[feh]

Congratulations on the savings!

One comment however - money that you think you'll need in 4 years should not be invested in equities.

[amarowsky]

I appreciate everyone's praise. Regarding the equities for shorter term savings, 4 years is what I would like my plan to be if I were to peg a rough date. Because my work is more dynamic than static, I'm just hoping I can use my savings for what I plan on. If not I'll just have to wait longer and maintain speed and direction until my timing is comfortable and safe.