Financial Bucket List

When people think of a bucket list, most often they associate it with experiences they want to have before they pass on. Bucket lists in the traditional sense are great, but there is another type of bucket list that not too many people spend time thinking about. I’m talking about the financial bucket list. You know – what are the financial goals you want to hit before you kick the bucket? Sketch out your own financial bucket list or feel free to steal some from the list below!

Pay off Student Loan Debt

Paying off student loans is a big one on a lot of people’s financial bucket lists. With the cost of college rising it may seem nearly impossible, especially for millennials. This is a great thing to put at the top of your bucket list. It is absolutely achievable and can be done so well within your lifespan. Come up with a plan and start chipping away at it.

Having Perfect Credit

Having perfect credit open’s a lot of doors for you, but it’s also a pretty awesome achievement. If you feel like you want to earn this badge, stick it on your bucket list and start thinking of ways to improve your credit. You can start by making payments on time and keeping debt as low as possible.

Retiring Early

Wouldn’t you love to retire early with enough money to enjoy it? This is a great thing to add to the bucket list. How are you going to achieve it? If you are starting this bucket list at an early age you’re in luck because time is quite literally on your side. Invest the full amount in your 401k to get full company match. If you are eligible, open a Roth IRA as well and plan to hit the cap amount every year. If you plan well, you will easily be able to take an early retirement!

Setting Your Kids Up for College

You know just how much college costs and how hard it can be to pay down that debt, especially if you put this at the top of your bucket list. If this fits your bucket list goals, set up a college account for you kids and stuff as much money in there as you can for them. They will be eternally grateful and even more surprised if they don’t know about it.

Buy a House

We all need a place to live and many people rent in order to do so. There is absolutely nothing wrong with that, but if you have a goal of owning your own house someday – throw it on the list! Owning a home is a major financial investment and should be taken seriously. You will want to start saving for a decent sized down payment and also have the money to make repairs and upgrades to really make it your dream home.

Pay for a Car in Cash

Paying for a car in cash may not be the most practical thing that ends up on your bucket list, but you have to admit it would be pretty darn cool. If you want to look like a big shot and see a wild reaction from a salesperson, start planning and saving for the car you want to pay for outright. Much like everything else on this list, with proper planning and saving, you can achieve it.