how the 50-30-20 budgeting rule can help you in retirement

the rule is pay yourself first

allocate 20 % of the income from salary / business towards retirement / paying down debt

then next 30 % towards wants – shopping , entertainment

the next 50 % towards essentials – housing , transportation , food , heating and cooling needs , etc

make the savings automated – most banks allow an automated transfer to another account automatically – if you don’t see the money , you don’t spend it

have an emergency fund – six months at least of expenses – in a high yield liquid account which can withdrawn anytime