Personal Financial Timeline

By Cra765
  • Learning to Walk

    10-18 months worth of time to invest
    365 days per year spent trying to walk
    Apply for help from parents
    Short Term
  • Learning to Drive

    15 and 9 months to 16 years
    Around 60 hours of practice required
    3 months in one year
    Practice personally, ask for help from parents
    Short term
  • Graduating From High School

    Around 18 years of rigorous study and participation in scholarly pursuits required
    !80 days of school per year
    Pursue funding from parents to sponsor your application
    Short-Medium Goal
  • Entering College

    Around 18 years of saving money on the part of the parents ($40,000)
    ~$2,222 per year
    Pursue other funding in the form of a student loan
    Medium Term Goal
  • Marriage

    ~5-10 years to save $20,000
    Around 2-5,000 per year
    Save for by setting aside money from each paycheck
    Medium Term Goal
  • Buying a House

    Around age 40, $400,000
    ~$16,000 per year for 25 years
    Both save and pursue other funding (a loan)
    Medium-Long Term Goal
  • Kids Graduating from High School and going onto College

    Between age 40-64, ~$40,000
    Saving of around ~$2,2227 per year
    Save for over the course of ~18 years
    Short term Goal
  • Life insurance and Will

    Age 44-64, ~$8,000
    Around $670 per year for 12 years
    Save for this expense
    Long term goal
  • Retirement

    Age 65, ~$1,750,000 to retire
    $38,890 per year for 45 years
    Save up through use of retirement accounts to save up enough money in the form of interest
    Long Term Goal
  • Travel during retirement

    Age 60-5+ $3,250 for a 12 night International round trip
    Money taken from retirement fund
    No saving needed just need to calculate it into the amount saved up for retirement
    Long Term Goal