Let's look at someone who is on the right track..... Our guest blogger Stefan has agreed to let us track his success over time. He called me very excited last week as his networth went over $10,000.
He is 23 years old and a recent graduate of Ohio State University.
First job starting salary $35,000 a year.
First annual review - amazing and was promoted to next level and given a performance bonus.
No debt other than student loans that he is paying off ahead of schedule.
Between his 401k, Roth IRA and Emergency savings he has over 10K.
He increased his 401k contribution from 15% to 16% when he received his bonus.
He continues adding $100 a paycheck to his emergency savings - and is considering increasing.
He is currently educating himself on real estate so when the right deal comes along he is ready to make a decision.
It goes to show you do not have to make alot of money to slowly increase your financial security. Everyday choices and being aware of how you spend your money - makes the difference.
We will check in with Stefan on a quarterly basis to see how he is progressing.
Stay tuned...
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