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Monday, October 08, 2007

Millionaires in the Making - Justin and Emily Bergman

The CNNMoney.com article discusses the finances of a couple in their 20s, Justin (a Navy officer) and Emily Bergman. With a combined salary of $70,000, they have managed to accumulate:

Thrift Saving Plan: $9,300
Roth IRA: $4,500
529 plan: $8,500 combined
Mutual fund: $15,200
Emergency Fund: $2,300

The couple is currently renting their house in Connecticut, where Justin is stationed with the Navy. They have paid off all their credit card bills, and are now saving to pay off their car loans, invest in 529 plans for their daughters and plan to buy their own house. Justin attributes his saving habits to his grandparents.

"They weren’t always into buying flashy things, and I learned from them that you don’t always have to have the best of the best," he said.

As per a financial planner, "The Bergmans are on the right track to reach millionaire status by the time they retire".

For complete article, see:

CNNMoney.com: Millionaires in the Making: Justin and Emily Bergman

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Labels: invest

posted by Ruby @ 7:51 AM

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