Biggest financial goal? Financial independence. By that I mean, having enough investment income to cover three quarters of our family's current living expenses. This would allow my wife and I to transition to worthier causes and free up time to spend with our children and family. Why three quarters? Because when the transition occurs our expenses will be reduced and should cover all of our monthly expenses with additional savings. How are we getting there? By spending only 60% of what we make and investing the remaining in our children's education funds and our FI fund. If you are dreaming, dream BIG!
Ask the Readers: What Is Your Biggest Financial Goal?
Photo: George M. Groutas
Editor's Note: Congratulations to Kathleen @ Frugal Portland, Kathleen S, and Jerry for winning this week's contest!
Most people have financial goals they are trying to accomplish. Whether it's dining out less or cutting back on a certain item in your budget, everyone works on achieving small financial goals everyday. But people also work towards achieving larger financial goals such as getting out of debt, buying a house, retiring, or taking a dream vacation too!
What is your biggest financial goal? Saving up for a house? Buying a car? Taking a trip around the world? Paying off your debt?
Tell us about your biggest financial goal and we'll enter you in a drawing to win a $20 Amazon Gift Card!
Win 1 of 3 $20 Amazon Gift Cards
We're doing three giveaways — one for random comments, one for random Facebook "Likes", and another one for random tweets.
Mandatory Entry:
- Post your answer in the comments below
For extra entries (1 per action):
- Go to our Facebook page, "Like" us, and leave a comment on this article telling us you did, or
- Tweet your answer. You have to be a follower of our @wisebread account. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it. Leave a link to your tweet (click the timestamp for the individual URL) in a separate comment.
If you're inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.
Giveaway Rules:
- Contest ends Monday, July 30th at 11:59 pm Pacific. Winners will be announced after July 30th on the original post. Winners will also be contacted via email.
- You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
- This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.
- You must be 18 and US resident to enter. Void where prohibited.
Good Luck!
Pay off my $243K mortgage by 2018! I'm down to $142K in 19 months! How? Living BELOW our Means and using half of our savings.
My biggest financial goal is to become debt free (including the mortgage) within the 5 years. Plan in place, just need to keep up with it!
My dream is to finance medical school for myself, repay the debts, and then be able to properly care for my parents in their old age.
short term: finish reading david bach book.
long term: buy house with fiance and save enough money to send future kids to school.
