Savings! How much is enough?

[maki2]

you can get free financial planning at any credit union. the best approach is to set it up as a lifelong plan. Remember that young people today will not be able to collect social security at age 62 or even at age 65. It is going to be 70 years old. So you have to keep that in mind and get the money earned and socked away during your prime earning years so you are taking advantage of accumulated interest.
Also ageism is alive and well. Many people in their late 40s are finding it difficult to change careers and get paid as much as they were getting in their previous job.

While you are young and employed with a good salary part of the financial plan will be to put some money into more risky but higher return investments which might mean investing in yourself by stating your own business where you don't have to worry about hating your boss or your job. Plus make it one where you can work while on the road. Then you don't have to worry so much about if you run out of savings in an emergency. But you might want to have some insurance that pays an income if you are injured and can't work for a while.

(This post was last modified: 09-28-2019, 05:40 PM by maki2.)