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 7 Wealth-Building Goals to Accomplish in 2025

Are you ready to make 2025 a year of significant financial growth? This article outlines seven essential goals, inspired by Atin's video, to help you build wealth and secure your financial future.

1. Create a Retirement Investing Plan

• Maximize Employer 401(k) Match: If your employer offers a 5% match, contribute at least that much to take full advantage.
• Max Out Your Roth IRA: Contribute the maximum allowed: $7,000 if you're under 50, $8,000 if you're over 50.
• Maximize 401(k) Contributions: After the Roth IRA, contribute as much as possible to your 401(k), up to the current limit of $23,000.
• Invest Your Retirement Funds: Don't just save; invest your retirement contributions in the market to allow them to grow. Consider a simple S&P 500 index fund.

2. Prioritize Your Health

• Physical Health: Eat well and exercise regularly.
• Mental Health: Focus on your mental well-being.
• Overall Well-being: Consider supplements, like AG1, to fill any gaps in your diet. (Note: This is mentioned as a personal example in the video. )
  
  
  
  
  

3. Pay Off High-Interest Debt

• Debt Snowball: List debts from smallest to largest and focus on paying off the smallest first, while making minimum payments on the others. This provides a sense of accomplishment and is easy to follow.
• Debt Avalanche: List debts from highest to lowest interest rate and focus on paying off the highest-interest debt first. This saves you money on interest and helps you pay off debt faster.

4. Save Your First $10,000

• This creates a financial cushion for unexpected expenses, preventing you from having to withdraw investments at a loss.
• $10,000 is a good starting point to cover most surprise expenses.

5. Invest Outside of Retirement Accounts

• Once you've paid off debt and saved $10,000, consider investing outside of retirement accounts.
• Options include stocks, bonds, index funds, real estate, cryptocurrency, metals, peer-to-peer lending, CDs, and dividend stocks.
• Investing outside of retirement accounts offers easier access to your money.
• Remember that all investments carry risk, so do your own research.

6. Complete Your Emergency Fund

• Aim for an emergency fund that covers 6-12 months of living expenses.
• The amount will vary depending on your circumstances (e.g., single person vs. family).
• A fully funded emergency fund provides peace of mind and protects your wealth in case of job loss or other emergencies.

7. Make Your Spending Less Than Your Income

• Create a budget that outlines your income, fixed expenses, variable expenses, savings contributions, and debt repayments.
• Ensure your budget is balanced, with your income exceeding your expenses.
• Write down your financial goals, which may include the goals mentioned above, as well as increasing income, generating passive income, or paying off your mortgage.

By focusing on these seven goals, you can set yourself up for a successful wealth-building year in 2025.