Monday, August 30, 2010

Financial Bucket List

Since the 2007 movie The Bucket List With Jack Nicholson, and Morgan Freeman there are a number of web sites and blogs that offer tips / suggestions to help you compile your list of things to do before you kick the bucket. I will be putting one of those types of list together in the weeks to come, but first wanted to get my financial bucket list complete. Really the same idea but I choose to look at it as a list of financial items I'd like to complete way before I'm kicking anything.

I think a list like this serves as motivation, goals that you should continue to work towards. Without a list you can get caught up in everyday life and never get anything accomplished. So here's goes:

Pay off all unsecured Debt in less then 5 years

Establish Emergency Fund - save $15,000

Establish vacation fund - save $3,000-$4,000 yearly for family vacations

Build sizable college fund for my 3 children - college ain't cheap

Pay off Home Mortgage - will make the next 3 easier

Save 1 million dollars for retirement

Retire at age 55

Buy Retirement home with Cash - No Mortgage

After writing my list, it almost came out in chronological order. Tops are my list is paying off my credit card debt, once that is complete it makes many of the others easier to accomplish. Do you think I'm missing any major items? Sure it's my list, but I don't want to miss out on anything. What's your list look like?

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