15 Financial Goals You Need to Hit by 40

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13. Write a 5 Year Financial Plan

By writing a 5-year financial plan you can get your money and budget in shape to match your life goals. If you’re not currently happy with how your finances look, then a 5-year plan could be the remedy. For example, if you imagine yourself as a homeowner in the next 5-years then you need to start saving for a home down payment. By mapping out this plan, you can see where you’d like to be during the coming years and plan your finances accordingly.

14. Start Maxing Out Your Retirement Account Every Year

The earlier you start maxing out your 401(k) or IRA, the earlier you can retire. Simple. Don’t wait until it’s too late to start saving for retirement, in fact, the younger you start, the better. You might have a goal to be financially free by 40, or just want a comfortable retirement. Either way, make use of this tip. Especially if you have a company match with your 401(k).

15. Complete Your Emergency Fund

A full emergency fund should hold at least 6 months of expenses. This amount will leave you feeling extremely secure, no matter what happens. Now, is the perfect time to start working towards all of these goals. The hardest part is starting, but once you do you will see your wealth growing before your eyes.