Create a 3-part budget, where you identify and plan the meeting of your financial needs
at the following stages of your life:
1) meeting current needs
2) meeting financial needs 10 years out
3) meeting financial needs at retirement and beyond
More info about me:
I’m an American in my late 30s, no children, no wife, currently making about $54,750 a year. I don’t have a
home yet, living with relatives. I hope to own a home in the next 10 years.
I have roughly $275,000 saved in 401k, and over 88,000 in savings, no car notes, just regular maintenance
such as oil changes and repairs on a 2014 Nissan Rogue
Ten years out from now, I hope to be making at least double the yearly income that I’m currently making. I
should bought my home by then. Increased savings.