What goals do you want to achieve by 50?

Based on the highest ranked content on WSO, here are some insights on goals and how current jobs are helping to achieve them:

1. Financial Goals:

   • $1MM by 30 and $5MM by 40: With basic return assumptions, aggressive savings, and career progression, these goals are considered achievable. Some individuals plan to take less risk once they reach the $4MM or $5MM mark, potentially shifting to a 50/50 asset allocation.
   • $5-10MM by 50: This goal is seen as significant, with some expressing that it feels surreal and more like a number in a bank account rather than a tangible achievement.

2. Lifestyle and Personal Fulfillment:

   • Freedom and Extravagant Lifestyle: Some aim for financial freedom to not work or to live an extravagant lifestyle. The motivation behind these goals is often more important than the net worth itself.
   • Job Enjoyment and Education: For some, especially those from less affluent backgrounds, the primary goal is to have a job they enjoy and access to good postgraduate education.

3. Career and Job Satisfaction:

   • High Income and Flexibility: Jobs in investment banking and hedge funds often provide high income (e.g., 7 figures a year), which allows for significant savings and the ability to afford most things within reason. However, these jobs also come with constant stress and performance pressure.
   • Career Longevity and Less Demanding Roles: Some individuals plan to continue working but may consider less demanding roles as they get older, especially after reaching certain financial milestones.

4. Broader Goals and Lifestyle Choices:

   • Family and Education: As people age, their views on money and lifestyle may change. Prioritizing family, children's education, and living in a nice neighborhood can become more important than merely achieving a financial number.

In summary, goals by 50 can range from specific financial targets to broader lifestyle and personal fulfillment objectives. Current jobs in high finance often provide the means to achieve these goals through high income and career progression, but they also come with their own set of challenges and stressors.

Sources: Money - What is your goal?, Money - What is your goal?, Approaching 30 and lost