Previously, we have known the first five financial goals that are better achieved before 30. Let’s move on and see what other five points that The Millennial Money Woman included in the list!
Your future is part of the financial goals: save for retirement
Never think you are too young to think about your retirement plan. In fact, planning it in your millennial years could be beneficial because of the power of compounding interest. The Millennial Money Woman simplified compound interest as making your money work, and to grow it not in the short term, but in the long term. In other words, you should see your retirement saving as your future investment. Start small, but keep your commitment. Soon, you will reap what you deserve.
Additional incomes can help you achieve your financial goals
Apparently, The Millennial Money Women found out one similar characteristic between new millionaires: having more than 1 source of income. In fact, through her simple research, she noticed that most have 7 income sources. She further elaborates that the streams of income might come from their main jobs, investments coming from dividends and interest, rental property, second business profits, and royalties from things that they may have invented. That way, they will still have other sources of money when one gets blocked.
Wealth = health
Yes, having 7 sources of income could help you from getting broke. But will you be able to handle the workload, both physically and mentally? Overworking yourself is a bad decision. Balance your work and life. Rest when you need to. Don’t forget to eat more healthy food. Lead a healthy lifestyle. Maintaining health is another type of investment.
Enlighten yourself, improve your financial literacy
How will you achieve your financial goals if you don’t even know about finance? While you are still in your 20s, start from the basic. Read books, online articles, update yourself on the regulation. This will be a lot helpful not only for your finance but also for your future wellbeing.
Healthy habits come from healthy routines. Be productive!
Believe it or not, positive habits will lead you to a better life. Start waking up early, exercise, read some books, and lead a healthy life. Having a productive lifestyle will soon make you much more ambitious with your life.
Read also: 10 Financial Goals to Achieve Before 30 (Part 1)
Follow and join us on Youtube, Instagram, Facebook, and Twitter to be part of the trader community in Asia