Income Guides
Key Takeaway
Tailor your savings approach to your income type — predictable salaries allow fixed contributions, while variable income requires flexible strategies.
Salary Earners
With a predictable income, you can set fixed monthly contributions and plan around regular raises. Maximize employer retirement matches, which are essentially free money.
Freelancers
With variable income, the key is setting a minimum monthly savings floor and adding extra in good months. Build a larger emergency fund to handle income gaps without dipping into retirement savings.
Commission Earners
Commission income can be seasonal and unpredictable. Plan around your base or average income for contributions, and create rules for allocating windfall months toward retirement.
Business Owners
Business owners have unique challenges: reinvesting in the business vs personal retirement, planning for a potential business sale, and managing profit distributions. Separate personal retirement planning from business growth.
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