My Financial Goals by 40 Years Old | CoastFI, Sabbatical, $100K cash, and much more!
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- เผยแพร่เมื่อ 7 พ.ย. 2024
- My Goals by 30: • My Financial Goals by 30
2023 Financial Goals: • My 2023 Money Goals
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My 40's were my financial growth years. I'm now 52 and retired. During my 40's I became completely debt free including mortgage. My net worth, including property is pushing 2 million. I keep 150,000 cash in a high yield savings. I KNOW this is too much, but it's my comfort level. I still earn fun money doing what I love. Through my work I give regularly. I travel frequently and I travel big once a year. I leave for a cross country trip on August 1 and will be gone 7 weeks. I accomplished my financial goals on a public school teacher salary as a single mom. My son is 26 now and on his way financially. The key for me to be where I am at 52 was to live below means, zero consumer debt and paid for house within 7 years of taking the mortgage. Sacrifices during a short season of life are paying off huge now. You will meet your goals. I appreciate your sharing your journey.
Wish my wife had this mindset❤ , But im getting her there little by little🙏🏽
Love the content and the mindset you have. Keep it up🙏🏽❤
I had a long stretch of unemployment during my early 30's from the great recession, so I basically started at $0 at 33. I had a goal to hit 100k in savings when I was 40 and reached it at 40 and 11 months. My next goal is to have 1M by 48. I currently have 375k at 43, but am saving 65k per year now between all my retirement, brokerage and savings accounts. If the stock market gives avg to above avg returns, I should be close! Thanks for the great content.
Setting goals gives you something to continously work towards. Anything is possible and if we believe it and speak it into being, it can be done 💞
💯💯💯
37- almost 38… and since I started my YT channel in 2018, I went from negative $70k NW to positive multiple six figures. It STILL blows my mind when I think about it. So definitely aim high!! Millionaire status by 40, totally doable for you. You’re definitely putting in the work with the business. 😊
Im 41 and your already ahead of me I'm super proud of you..
Thank you so much!
Hi Leila. This was offered to me again to watch. So I did. I'd LOVE for you to do a re-review of this video or react to it to show us what's still on the table and what's changed. 🙂 You're knocking down the goals one by one! So happy for you!
That's a great idea, thank you!! I'll film it closer to my birthday in July 😊
Yay! Thank you!
So fun! It’s exciting that you’re thinking about money in a way that gives you freedom to live your life the way you want. That’s what money should be used for! I hope your sines dreams come true 🎉 I don’t have any major goals, I’m in it for the long haul so it’s a slow,steady race for me.
My goal is to hit $1M NW at 40. I’m 24 at $80k NW. I know kinda far reach, but I have a great path and career to reach it.
I’m only 32, but I love my thirties so much more than my 20s already! And I did have so much fun and many great experiences in my 20s haha It’s just easier, and I’m more secure (personally and financially). I also work for an airline, so I have flown business class to and from Europe, and I can say, it’s pretty damn nice. Sleeping laying down just makes the trip so much easier, and you don’t “lose” time at your destination because you’re less jet lagged. I would say, maybe look at just doing business class on the leg of the trip that’s overnight. I’ve also flown to Europe in economy, and an eye mask + noise cancelling AirPods made a world of difference.
Loved this video! I'm 31 (turning 32 soon) and have a goal of being a millionaire by 35. I didn't really make much or save consistently until 2018. Here's hoping we accomplish our goals!
Love it! Goals are so exciting 🙌🏻
My 30’s were definitely my best decade. Sadly my husband became ill when I was 39 and had to give up work. This is why I love the approach you are taking. Have a nice balance of spending on today and saving for the future. It saved us and I don’t regret a thing. Thanks for sharing 💖
I loved you series of the different types of FIRE. I learned so much from those videos.
Love the idea of a sabbatical to test out being a full time entrepreneur for a while and see how you like it!
Re flying first class - it's possible! Definitely consider looking more into travel hacking/credit card points. Cash prices for first class are ridic. Husband and I traveled first class to Japan using CC points a few years ago.
I'm 41 and I've been playing a bit of financial "catch-up" because up until 3 years ago, my salary was terrible and it was difficult to invest very much. One of my goals is to hit $100k in my 401k by the end of this year, and I think I'm on track to hit that, which rocks. I'm also shooting for a $500k net worth by 2026, although I love that you've set a stretch goal of $1M so I may steal that as a goal for myself before I hit 50.
Those are great goals to have before your 40… good luck…
I was born n raised in Australia… would love to know more on your time there.
Also, I highly recommend the 1st class flight in Qatar Airways or British Airways from US to UAE (Dubai). Amazing time and an amazing spot.
Hi Leila! I suggest flying first class to Europe, middle east or Asia! The prices are much more reasonable and the comfort is there
I’m with you on the air flights goal! Just coming back from the uk to New Zealand In economy, ohh so hard, I’m saving for a business class flight. It’ll take me years lol but it’s a goal 😁
i love the 1st class goal but mine is w only points hahaha and yes also like a super long flight. in my opinion short flights in business is a waste of money! but that's jut me. i love the goals. keep it up! you're awesome!
Hi Leila, I love your goals, but I think you are going to blow past them much earlier than you think. I started at 28 with -$20K in debt and a job earning $30K a year. My goal was similar to yours (financial independence at traditional retirement age). But, to my surprise, by the time I was 40, I had a net worth of over $1 million and was financially independent. Now, at 45, my net worth is around $2 million; I own 12 single-family homes, a duplex, and my residence (a condo in Japan). I also have a healthy index fund balance. At a certain point, compound interest takes over, and it's surprising how fast your networth grows. I love watching your videos. It reminds me of the journey I took around your age, but you are much further along than I was.
Hello from Sydney Australia Leila❤❤
Thank you so much for sharing your journey with us and thank you for being an inspiration. I always learn something new from your videos 👍
My new thing is saving my Aeroplan (Air Canada) points so I can fly business class on any long-haul flights I have coming up. I'm even flying Business from Toronto to LA next month and I'm so excited because last time, my legs felt so crunched up in economy. I really want to travel a lot more in my 30s and I think points are going to end up being a helpful part of that for me! I'm turning 31 in a couple months and it sounds like we have some of the same goals! I'd love to pursue Coast FI in the next 5 or so years!
I would love to hear the details of how you have broken down your million dollar net worth goal. Your goal setting is inspiring!
You have amazing goals. I really appreciate you sharing 😊❤
How do you calculate Coast FI?
Quick question: Why do you like Marcus over Ally? Ally has buckets in the savings account & checking as well.
It's just the first savings account I've had/used and I get a higher interest rate from referrals!
What a cool business idea! So many people deserve a leg up or a bit of help to lead the life they want and deserve! What a beautiful thing it would be to be able to help people achieve that!
The roth ira limit decreases when you hit around $130k and is $0 at $153k
backdoor roth is an option
Could you contribute to SEP IRA now based on your side hustle income?
Yes I can! I may contribute at some point, but I think it would be more beneficial for me to max out my 401(k) before going to a SEP IRA. I like contributing a bit to my brokerage so I can have some funds invested that I could pull from before traditional retirement without major penalties.
Hey! I just learned that interest earned from High Yield Savings Accounts is seen as taxable income. Can you talk about that in one of of your videos, and how you’re planning for it?
The Roth income limit for a single person has now increased to 153000 for 2023
I’m going to be 40 in two weeks😮
use credit cards points for first class flights
Do you think you will have children? Wondering your thoughts on how that could impact your path to 40.
I do not want children
Don’t pay for a business/first class flight - use points from a travel reward card. (Also btw it’s highly overrated IMO, so don’t feel bad if it doesn’t happen!)
How old are you?
30, 31 in July
Once you fly first class you'll never go back. 🧡
I turn 30 on December 31st. I’m going to do my decade goals on New Year. 🥳🎉
Iv been investing into gold and silver and copper because no one ever talks about that as an option I love gold and silver and copper because it’s a grate long term investment option
No husband in those goals. Sad. Typical woman.
How does a husband have to do with my financial goals. And I actually did discuss that when talking about a house
Fuck off
I love your notebook 📔 🥹🤍 where did you get it from?
It was actually a gift from a friend! But it's from Archer and Olive!
@@PersonalFinancewithLeila thank you 😻🫶
Glad I found your channel and someone that lives semi-nearby (Greenville SC). Haven't met anyone locally yet that likes talking shop about building wealth, credit cards, and opens accounts to get bonuses .