Tuck away 20% of your income
Life is uncertain. A lot of things may go around all of a sudden and you wouldn’t want to be left without funds in your time of need and no other way of income. For these tough situations, stash about 20% of your income.
Plan Out Your Monetary Goals
The most obvious and brilliant way to be safeguarded about your life after retirement is to speculate on how you’re going to allocate your resources. Whatever plans you have which requires you to spend a significant amount of money should be well-thought of before committing to it.
Be Open To Different Modes Of Income
Depending on one source of income can be a pretty risky proposition since you can’t fall back on some source of income if you only have a single mode of income.
Explore the world of investment
The stock market is a huge place where one can earn millions if properly executed. Don’t get overly joyous and splurge your life’s savings into it. Instead, start from the bottom up.
Distinguish between what is necessary and what isn’t
There is a pretty broad line between absolutely needing something and craving something. Categorize them and buy accordingly
