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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