Financial Milestones Before 40

Why is it beneficial to eliminate consumer debt before turning 40?

• To focus on building net worth through investments

• To qualify for more credit cards

• To reduce monthly mortgage payments

• To increase spending on luxury items

By the age of 40, how much should you aim to have saved for retirement according to financial experts?

• Twice your annual salary

• Three times your annual salary

• Half of your annual salary

• Equal to your annual salary

What is the recommended amount to have in an emergency fund?

• 12 to 18 months of expenses

• 6 to 12 months of expenses

• 3 to 6 months of expenses

• 1 to 2 months of expenses

What is a key strategy to avoid lifestyle inflation?

• Save less and enjoy more

• Spend more on luxury items

• Keep lifestyle the same and invest raises

• Increase spending as income rises

What is a 529 plan primarily used for?

• Saving for a new car

• Investing in real estate

• Saving for children's education

• Starting a retirement fund