4 Money Milestones Everyone Should Reach by 40
Though 40 may be the new 30, the reality is that it's 10 years closer to retirement. So you need to really get serious about boosting your savings and making other smart money-related decisions that'll set the stage for financial security down the line. Here are a few specific milestones you should aim to hit before you officially turn the big 4-0.
Before you can really think about saving for the future, you need to make sure you have enough money to cover unplanned bills at present. And that's where your emergency fund comes in. Ideally, that account should contain enough money to cover three to six months of essential living expenses. That way, if you lose your job, fall ill, or encounter a major home repair, you'll have cash reserves to tap that'll keep you out of debt. And that leads to our next point...
Image source: Getty Images.
Source Fool.com
