Recession-proof and Inflation-proof Life
~ Saturday, October 1, 2022 Blog Post ~
My older sister and I were discussing personal finance today — saving money, specifically how much we should have saved by the time we reach a specific age — and she shared this information with me:
Source Link: https://www.ally.com/do-it-right/money/savings-by-age-how-much-to-save-in-your-20s-30s-40s-and-beyond/
I told her that I agree that it is possible to live a recession-proof and inflation-proof life. I also want to credit her for highlighting Ally Financial’s helpfulness in our personal finance lives.
Ally Financial Incorporated (NYSE: ALLY) is a leading digital financial services company.
Meanwhile, Ally Bank, the company’s direct banking subsidiary, offers an array of deposit, personal lending and mortgage products and services. It is a member of the Federal Deposit Insurance Corporation and Equal Housing Lender.
I checked out Ally Financial’s official website — https://www.ally.com — and I discovered more interesting personal finance-related articles such as the following:
- Spending more and saving less: Time for an inflation check-up
2. What’s Your Money Script?
Link: https://www.ally.com/do-it-right/money/whats-your-money-script/
3. Kick-start your savings plan this fall
Link: https://www.ally.com/do-it-right/banking/how-to-create-a-fall-savings-plan/
4. Don’t quit on investing: 3 reasons to stay the course
I’ll repost these four articles here on my blog for my perusal when I have the time.
___________________
Excerpt from “Savings by Age: How Much to Save in Your 20s, 30s, 40s, and Beyond”
MARCH 23, 2022
No matter what stage of life you’re in, one thing will always remain the same: It’s never too late — or too early — to save money.
Your age is one of many factors in your personal financial picture. Understanding how long before you expect to reach certain life stages (such as retirement) is an important part of saving money. But don’t get discouraged if you haven’t started yet, need to hit pause, or fall behind. You can always get back on track.
If you’re wondering, “How much should I have saved?” now is the time to flip your mindset. Think, “How much could I save?” Read on to see just how much your savings today can turn into down the road.
