2 . Consider Inflation
It’s inevitable: the more time passes, the more expensive things get. So, when planning for the future, make sure not to overlook inflation and it impacts on the value of your money in the future. For example: to have what feels like $1 million today in 30 years, you need to have saved nearly $2.5 million! While that sounds downright depressing–trust me, I sympathize–the bigger point here is to make sure you don’t forget that pesky 3% annual cost of living increase (on average) when you’re calculating your retirement needs.