
14. Save As Much As You Can
Once your startup is operating normally and generating revenue, you’ll have to make a plan to maximize savings without compromising on personal expenses or living costs. Simply put, you’ll have to prepare a strategy that will enable you to apportion adequate funds for savings and expenses out of your earnings. You don’t want to cut corners when it comes to your mortgage, rent, and groceries.
You don’t have to give up on the elementary pleasures of life. On the other hand, you cannot afford to ignore the indispensability of saving as much as possible to realize your goal. With regards to savings, plan on investing in a retirement scheme {401 (b), 403(k) or Roth IRA}.

Simultaneously, put aside a substantial sum in a savings account for contingency or emergency expenses. And if you want to have absolute peace of mind about the above savings accounts, automate the accounts. Once the two versions are automated, you’ll not have to worry about withdrawing a portion of the salary to contribute to the savings accounts as it’ll happen automatically.
Your cumulated earnings will determine how much you would want to put away in the retirement and emergency funds’ accounts. By rule, aim to deposit a sum in the retirement account double what you’d contribute towards the emergency account.