Day: June 6, 2023

Congratulations! Your hard work has paid off. You’ve finally hit that six-figure salary. You must be asking yourself, “What do I do now?” Whether you’re looking to start a family, work hard/play hard, or just want to retire as early as possible, making sure you’re saving and investing to reach your goals is going to be your first priority.  Employers offering pensions are a relic of the past, and social security may not be sufficient to satisfy your expense needs. It’s up to you to save enough.  Other professionals have advised 10% as a healthy savings goal, but if you wish to maintain your quality of life in retirement, this probably will not be enough. We advise saving 20%-30% of your gross income depending on your age and your earnings. The earlier you start, the greater the chance that 20% will be enough. However, the more you make, the higher the percentage you’ll need to save. These amounts could be adjusted further depending on your targeted retirement age. Where You Are Saving Is Just as Important as How Much You Are Saving! Navigating the complexities of a comprehensive financial strategy can be daunting. A CERTIFIED FINANCIAL PLANNER™ practitioner will be able to