According to a recent poll, the top indicators of being “grown up” are 1) taking full responsibility for your own actions, and 2) being financially independent. Some of the more traditional understandings, such as “finishing my education” and “getting married” were far behind those two. “Having kids” barely made the chart.

When you’re in your twenties, you’re entering a time of discovery and long-term planning. Your family and friends are very important to you. You are also laying the groundwork for a career and a life that is rewarding, satisfying, and meaningful. This can be a time to find a path to financial independence and freedom.

Some simple steps you can take now to ensure your future are:

  • Establish a small emergency fund. $1,000 would be a great start.
  • Pay off your credit card debt fast! It’s hurting you.
  • Start your retirement fund. The earlier the better.

If you’re like Billy Hill, and you find “Too Much Month at the End of the Money,” these steps may not be so simple. If so, it’s time to take a good look at how you budget your money.

Start saving now for your retirement. By the time you’re 30, you should be putting away ten percent or more of your paycheck to your retirement, though a workplace 401(k) or an IRA. Be disciplined – the earlier the better. If you put just $2,000 a year into an IRA starting when your 25, and stopped adding money after ten years, you would still have more money at retirement than if you waited ten years and put $2,000 in every year from age 35 on.

At Endress Capital Management, we specialize in helping you start meeting your financial goals early. Whether it’s help with budgeting or investing, we’re here to put your money to work for you.