Master Components of Financial Planning for Wealth Success

Saving: Building Your Financial Cushion

Saving is crucial for financial stability and wealth accumulation. It provides a safety net for emergencies and creates opportunities for investment. Experts recommend following the 50/30/20 rule, which allocates 50% of your income to necessities, 30% to discretionary expenses, and 20% to savings². By consistently saving a portion of your income, you can accumulate wealth over time and be prepared for unexpected financial challenges.