Setting financial goals can help you establish good money habits. While short-term goals can get you started, long-term goals lead to wealth.

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Having a good grasp of your finances gets more important as you get older and move closer to retirement. Even if you plan to work forever, it’s possible that you may no longer be able to work due to a physical or medical condition. That’s why it is good to stockpile money and make smart decisions now instead of playing catch-up a few years later.

These are some of the financial goals you should achieve before you turn 60.

1. Have no credit card debt

2. Pay off your mortgage

3. Make sure you never spend more than you earn each month

4. Pay off any personal loans and auto loans

5. Put yourself in a position where you no longer need to take out debt

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6. Your net worth should be at least 25 times your annual salary

7. Invest at least 10% of your paycheck and gradually increase this number

8. Invest in a diversified portfolio that includes stocks in various sectors. A few ETFs are sufficient.

9. Invest enough money in your children’s 529 to cover college tuition. You can start with $100 per month.

10. Have one investment that you have held for at least one decade to avoid emotional investing.

11. Invest in career skills that allow you to double your income over time

12. Start a small business or a side hustle and commit to it for at least one year

13. Learn negotiating skills and ask for a raise at least three times before you turn 60

14. Continue applying for new jobs so you can job hop if needed and create more leverage in negotiations

15. Create a retirement plan so you know when to retire or switch to part-time work

16. Have an emergency fund that can cover at least one year of living expenses

17. Diversify your investments across multiple sectors

18. Gradually move some capital out of high-risk assets and put them into stable, low-risk assets

19. Invest in assets that generate cash flow

20. Don’t log into your stock portfolio for one week and monitor how you feel about your investments

21. Renovate your home