On my good days, I feel pretty good about where I am in life. At the age of 24 I am a college graduate, gainfully employed, and am able to afford to live on my own unlike many of my friends. No, I don’t own a car, but my lifestyle really doesn’t make a car a necessity. Though it is a very small amount, I invest in my company’s retirement plan every month and can normally set aside some money in savings every month. I don’t normally have money leftover, but I can afford to do some of the things I enjoy. I feel good about the fact that I have youth on my side and time to invest in my retirement and reach other financial and personal goals.
On my not-so-good days I feel so far from my goals it’s a bit depressing. I still have such a meager amount of savings and am probably at least a few years a way from becoming a homeowner. I have years of repaying my student loans to look foward to and credit card debt. I read so many great stories from other pf bloggers my age who have saved thousands of dollars, have purchased property, or have taken trips to fabulous locales simply because they wanted to and can afford the expense. In a perfect world, I’d be able to purchase a few investment properties in Philly—maybe in Germantown or Mt. Airy or Brewery Town for those familiar with the city—by the end of 2009 that would eventually generate additional income. I’d also buy a condo in DC maybe on Captiol Hill or the Adams Morgan area. In a perfect world, I’d also be able to go back to school this fall without taking out any more student loans and take a trip to a place I’ve never been before like London or South Africa. But although all of these goals are achievable in time, I am not always patient and wish they could happen a little faster. I guess I’ll have to be content with staying on the course I’m currently on by:
~Continuing to pay down debt
~Continuing to build savings (EF first, then home down payment)
~Gain more work experience to increase my income
~Generate other streams of income besides my full-time job
~Spend less than I earn
I think it’s realistic to expect to reach my goal of homeownership by the time I’m in my late 20’s if I keep my eyes on the prize. Patience is a virtue I’m still working on…Today is a good day and I’m going to opt to feel good about where I am and look forward to being a homeowner sometime in the future.