My bank of choice, USAA, turned me on to a fellow financial blogger in August when they featured Budgets are Sexy and his Million Dollar Club. His entertaining blog won the “Military Blogger of the Month” award. I’ll have to admit that reading his blog helped inspire me to move forward with mine. And although we have different styles of writing, we both have the same goals.
I’ve always dreamed of being a millionaire and living life on my own terms. I’ve been planning for it my whole life, but I stopped being pro-active with my finances for far too long. J. Money’s Million Dollar Club has gotten me to stop dreaming about it and moved me to do something about it. So, here is a list of tasks I pledge to accomplish in order to become a millionaire.
The Million Dollar Club Pledge
- Set up a budget and review it quarterly.
Pay off the car that we’re still making payments on. Pay off my wife’s student loans(I don’t have any thanks to the GI Bill and benefits while working my way through school). Complete my family’s 6 month emergency fund.
- Max out our Roth IRA’s every year (I’ve done it every year since I was 18).
- When I have income from my ventures, start a SEP-IRA.
- Donate or sell things I no longer need.
- Pay off the house early.
I’ll be updating the progress of these tasks periodically. It’s no easy feat, but I’m up for the challenge. The rewards will be well worth it. Thanks for the inspiration J. Money!
So now I turn to my readers. What are you doing in order to retire wealthy? I’d love to hear some of the things you are accomplishing or planning to do in order to build your wealth. If you haven’t taken the time to think about your financial future, I encourage you to start now. It’s never too late and the sooner you get started, the better.