Hello all,
I am a 22 year old with aspirations of early retirement. I started working at the age of 19 after I left college due to a family emergency at the time. i'm currently attending school part time and working full time. I've recently started contributing to my 401k. my company matches my contributions up to 6%, therefore i'm contributing 6%. I also invest in stocks through sharebuilder. I chose sharebuilder primarily because of their automatic investing, which helps me build my position on securities on a monthly basis.
In terms of expenses, i have credit card debt of $3,500 and car payment of $18,000. A year and half ago I made the dumb decision of buying a fast sports car, which now is the biggest expense that i have. i'm currently living at home and paying $200 in rent.
oh by the way i make $ 40,000 a year.
I know that I have time on my side given my age, but I do need to change my habits if I hope to retire early. Any advice on things that I can do or change would be greatly appreciated, thank you
I am a 22 year old with aspirations of early retirement. I started working at the age of 19 after I left college due to a family emergency at the time. i'm currently attending school part time and working full time. I've recently started contributing to my 401k. my company matches my contributions up to 6%, therefore i'm contributing 6%. I also invest in stocks through sharebuilder. I chose sharebuilder primarily because of their automatic investing, which helps me build my position on securities on a monthly basis.
In terms of expenses, i have credit card debt of $3,500 and car payment of $18,000. A year and half ago I made the dumb decision of buying a fast sports car, which now is the biggest expense that i have. i'm currently living at home and paying $200 in rent.
oh by the way i make $ 40,000 a year.
I know that I have time on my side given my age, but I do need to change my habits if I hope to retire early. Any advice on things that I can do or change would be greatly appreciated, thank you