Hi Pablo – I’d have you each start contributing to a retirement plan to the greatest degree you’re able. I’d concentrate on getting out of debt, which may be a long-term project with student loans. I’d also get working on setting up an emergency savings account, at least until you have enough in it to cover at least three month’s living expenses. Once you have those three working, you should contribute any extra money toward saving for a house, or building up additional investments (including a traditional or Roth IRA). You’ll have to be patient, but as the years pass, your situation will gradually improve, especially once you get out of debt, and have more money for everything else.

Hope that advice helps!

Great article. My wife and I are both in our late 20’s both in the financial industry trying to create a net-worth of our own. I wanted to ask you if you have any suggestions for signs of financial stability more centered in our age. I know most of these apply to everybody, but for younger demographics that are still paying school loans and haven’t being able to buy a home yet, this could seem a bit harder to do.

I look forward for your response

Hi John – You’re suggestion makes a lot of sense, at least the part about not dating to save money. If you’re struggling financially, dating is another expense. But it’s been a long time since I was in the dating scene, so I don’t know the rules about who pays anymore.