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Financial management

How should you juggle multiple financial goals?

6 minute read

Most of us have several goals when it comes to our money. Should you build up your savings first? Pay off debt? We'll help you figure it out.

Save for retirement

Haven't started saving for retirement through your employer or on your own? Get started on this goal first. Remember, you can't take out a loan to fund your retirement.

Pay off debt

Next, pay off any consumer debt you might have. This type of debt, like credit card balances or car loans, is usually short term and not tax-deductible. It typically carries a high interest rate as well.

Start an emergency fund

Once you're saving for retirement and you've paid off your high-interest debt, you should put aside money to build an emergency fund to cover at least 3 to 6 months' worth of living expenses. You don't want to be caught off guard when something unexpected happens.

Save for college

If you've got kids or other children in your life and you're planning to support them in continuing their education, this should be next on your list.

Get more from Vanguard

Call 800-962-5028 to speak with an investment professional.

✓ Custom Financial plan

✓ Ongoing portfolio management

✓ Investment coaching

✓ Real-time goal tracking

✓ All at a low cost

Get more from Vanguard

Call 800-962-5028 to speak with an investment professional.

✓ Custom Financial plan

✓ Ongoing portfolio management

✓ Investment coaching

✓ Real-time goal tracking

✓ All at a low cost

Saving for retirement or college?

See guidance that can help you make a plan, solidify your strategy, and choose your investments.

Already know what you want?

From mutual funds and ETFs to stocks and bonds, find all the investments you're looking for, all in one place.

Vanguard Personal Advisor Services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Compandy, a federally chartered, limited purpose trust company.