financial milestone

5 Important Financial Milestones in Life

Every achievement you’ve had in life is something you’ve worked hard for, but it’s the personal milestones you go through every once in a while that mark a momentous occasion in your life. It’s what changes you, brings you growth, maturity and wisdom as you get older. They might not always be something worth shouting for on social media, but it’s something worth looking back when you find yourself in a turning point in your life.

Every moment in your life becomes a learning experience. Look forward to the following milestones you can achieve as you grow older and wiser.

Leaving the Nest

For most western countries, leaving the nest is a rite of passage. It’s the time when you need to learn how to be responsible for your own sake. If you’re in Asia, you might’ve moved out from your home not because of trying to strike out on your own but for the sake of work. Either way, leaving the nest is a remarkable moment in that your room back in your home will just be an empty space and you will have to find a place to stay and fill it with your things. You will have to try new things to survive, compromise on the things you want to budget your money.

Getting Your First Paycheck

An honest work is an honest pay. Getting your first job and earning your first paycheck go hand-in-hand. Oftentimes, it’s not going to be a life-changing salary. It may seem like a few bucks, but that’s your eight hours of effort poured into it. Save up and make that money last until the next payday. You’d hate it if you just spent it all on a brand new sneakers and then realize you got rent to pay tomorrow.

girl budgeting

Hitting Rock Bottom

A not-milestone milestone. Failure is what makes you human, and in itself, a life-changing, learning, humanizing experience. Hitting your lowest point makes you think introspectively, forcing you to shift your perspective. Whether you got laid off, got your heart broken or what have you, the only way to go is up. You work twice as hard to climb the pit you’re currently in. This chapter in your life shall pass.

Settling Down

Not everyone settles down the same way. Some find their life partner and just live together. Others have children, get married, get married and have children, stick to taking care of pets. You can exchange your apartment lease for owning a new home, take out a USDA loan and use that to purchase yourself a new home. Settling down presents a milestone of achieving maturity and growth; you’re less active now, leaving behind the bachelor/bachelorette days of barhopping and binge-eating. But you’re ready for the long run now, and that speaks volumes.

Retirement

If you’ve done everything right—kids graduating college, financial independence, any other major life achievements and decisions—then it’s time to sit back, relax and retire. You’ve reached a point in your life where you’ve accomplished a lot in your life. Retiring is not the start of the end. It’s the beginning of a new chapter and you can do anything.

Here at the present, think of all the things you haven’t done and haven’t achieved. Work hard for each of them and make the most of life.

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