I wrote an article for my personal finance site that basically shows that by skipping a cup of coffee each day you could wind up a millionaire at retirement. This obviously depends on a few factors (rate of return and time) but I hope you’ll find the idea interesting.
I show that by saving $5 a day or $150 a month you could have the beginning of a really a nice nest egg. If you are self employed then you really need to focus on your own retirement savings. I provide ten tips for saving a few bucks everyday. You only need to do a few little things each month to save $150.
Unfortunately, more and more companies have abandoned their pension plans in lieu of 401k type of plans (employee contribution plans). I know times are tough but if we don’t make the decsion to start saving right now we may never be able to retire.
I wanted to post it here because I think everyone should start thinking about the future and can benefit from a few tips.
Take a read through and please let me know what you think. Also, let me know any tips that you’ve used to save money.
Here’s the full article:
How Much Does That Coffee Really Cost
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