This post comes from J.D. Roth at partner blog Get Rich Slowly.
For three years a single goal directed my actions: I wanted to get out of debt. Now that my consumer debt is gone, I've spent a lot of time wondering what to do next. I was worried that I'd lose focus, lose direction. That's not going to be the case. I've set three major financial goals for 2008. I intend to:
These goals are ambitious, but I think I can achieve them. In fact, I hope to do even more.
Retirement. I got a late start on my retirement savings. My employer has been setting aside a pension for me, but I began my self-directed retirement savings only last year. I managed to make the full contribution to my 2006 Roth IRA. I've contributed $2,000 so far this year, and intend to max out my plan in the next couple weeks. For 2008, the contribution limit on Roth IRAs increases to $5,000 a year. I hope to invest this amount.
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