The Money Muse

As we step into 2025, I find myself reflecting on both the lessons of the past year and the exciting challenges that lie ahead. This time of year is always a reminder to reassess what’s important to me, both financially and personally. While there are still some uncertainties to navigate, there are also opportunities to make progress in key areas of my life. Here’s a look at the financial goals and personal milestones I’m focusing on for 2025:

• Stay the course. While markets opened the year with a rocky start, I’m still planning to continue doing exactly what I’ve been doing to get where I am. That means, I’m going to stick with my automated investing strategy, contributing to a Roth IRA, 401(k), and a taxable brokerage account. I’ve been maxing out my Roth IRA and getting my employer match for the 401(k), so I’m already on a solid path. With a raise on the horizon, I’ll be able to increase my 401(k) contributions, and hopefully boost my brokerage investing as well. Staying consistent with my investments will keep my long-term financial goals in motion.
• Marriage. My partner and I are talking about getting married in the next year or so, and with that comes a slew of financial decisions. For our wedding, we know we want to do something small with our immediate families, , but even that will require a budget. Once we’re married, how will we combine our finances? We’ve talked about setting up a joint account where we’ll contribute a percentage of our incomes. We’re still figuring out the details, but this is something we’ll be tackling as we consider this new commitment.
• Whether to purchase a home or keep renting. My apartment is being demolished after my lease ends in October, so my partner and I are currently evaluating our options. The decision on whether to buy a home or continue renting is one that weighs heavily on us. Given the current market conditions, I’m leaning toward waiting on buying a home. If we weren’t being forced to move, I don’t think we would have made buying a house a priority this year. There’s a lot of uncertainty with high interest rates, and I’d rather hold off and make a more informed decision down the line. If rates decrease, that would be even better. For now, I’m comfortable with the idea of continuing to rent while we figure out our next steps. I’m also very thankful that I have built a secure enough safety net that this unexpected challenge will not derail me financially!
• Kid(s)? Unfortunately, the question of whether to have kids carries a heavy financial consideration, especially in the United States, where there is limited government support for new parents compared to other developed countries. For example, many European nations offer substantial parental leave, subsidized childcare, and financial support for families, which can make having children more financially feasible. In contrast, the U.S. offers limited paid parental leave and childcare assistance, which can place a significant burden on parents. My partner and I have talked about whether or not we want to have kids, and we haven’t landed on a definitive answer. For the longest time, I didn’t think I would want to have kids, but that’s changing as I get older. As I become more financially secure, the prospect of having a kid or two seems like it could be fun. However, right now, we’re enjoying our child-free lifestyle. When and if we should have kids has been on my mind lately, and I’m sure it will continue to be in the years to come.

As we move through 2025, I’m committed to maintaining financial stability while navigating the changes that come with major life decisions. Whether it’s continuing to invest consistently, planning for marriage, evaluating the home-buying market, or considering the future of our family, I feel ready to tackle whatever comes my way. My financial priorities remain clear: save, invest, and continue building a secure future, all while staying adaptable to life’s shifting circumstances. Looking ahead, I’m excited about the possibilities, but I know it’s important to stay grounded and make decisions that align with both my long-term goals and my personal values. Here’s to another year of progress!