Posts tagged “Retirement

The Financial Swim

Posted on September 4, 2015

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As summer comes to an end, I was asked to provide advice to departing interns. Alongside the professional development discussions, I always recommend mastering personal finances. While it may take time to gain experiences and chart an individual financial path, here are my basic ‘SWIM’ recommendations to get started. Save Aggressively Save at least half of your income. You probably can’t do this with a high debt load, so get out of debt. Why save fifty percent plus? Traditional lower savings guidelines assume you’ll have consistent salaried income over your career, and you may not. You’ll also want to avoid dependence on individual work income or social support in the long run. If financial independence is a priority, push your savings rate to 80-90%.…