This is something WE ALL SHOULD BE DOING! Saving more money
“if you cannot manage $50,000/year, then you definitely cannot manage $200,000/year” – Ron Miller
Our generation is going to have a big retirement problem. There will not be any pension plans or social security when we retire. Once you have an established cash based practice that is generating profit, then it is time start thinking about investments and retirement. Ultimately you can consult with a financial advisor (watch out for the fees if you invest!) but here is a great tool that Google created using a, or what looks like an excel form, spreadsheet that can help you calculate your savings and compound interest over a certain number of years.
This is a great tool to help predict how much you need to start saving!
You can search on Google “Google Savings Calculator” or CLICK HERE
How much are you saving and investing per month?
How much do you need to save to be able to live off of the interest alone? $3 million?
Hope this helps!