Stormy Weather Fund
Many times we hear we should save a certain percentage of our income and that can get tricky or confusing if we don’t have a fixed income because we earn commissions or royalties or have seasonal swings in income. Another way to look at it is to choose a dollar amount and it may fluctuate month to month or even week to week but you have an annual target in mind and work towards that goal.
My retirement is easy to just pick a percentage because the company takes care of it. Outside of retirement, I save an additional amount based on commissions and they are always different so I try to save as much as possible of that income into a brokerage account and then invest it into an S&P500 index ETF.
When striving to build your own business, insure that your business doesn’t depend on the local economy. One that can thrive from international sales growth and success.
Jerry Lang