Personal Finance Timeline

Buying a Used Car

2027

I will save $11,575 for 3 years. I will do this by not buying as many things that I don't need and getting a job.

Buying a New Computer

2027

I will save $167 for 3 years in order to buy a $500 computer. I will do this by not eating out as much.

Paying for College

2032

I will save $12,876 for 8 years in order to pay for four years of college. I will make a savings account for college and get another job in order to afford this.

Renting an Apartment for a Year

2034

Renting an Apartment for a year costs $15,972. I will save $1,598 for 10 years in order to afford this. I will save for this by saving part of my paycheck every month.

Buying a House

2039

I will save $21,502 for 15 years in order to make $322,527. I will save for this by spending less on shopping and beginning to save early.

Vacation to Spain

2040

I will save $2,500 for a year in order to afford this trip. I will save for this by taking on more hours at work.

Buying a Beach House

2059

I will save $10,243 for 35 years in order to afford a $358,500 beach house. I will do this by getting a better job or a promotion.

Buying a New Car

2064

In order to afford a $47,338 new car I will save $1,184 for 40 years. I will do this by starting to save early and saving a little from every paycheck.

Saving for My Funeral

2069

The average funeral costs $7,800 so I will save $1,560 for 5 years. I will get money for this by selling old belongings and furniture I no longer need.

Retirement

2084

On average, retirement costs $835,453. I will save $13,925 every year for 60 years in order to retire. I will do this by placing retirement money in a savings account.