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Rob Perkins saved $300,000 over 13 years as a freelancer but kept it in a savings account earning 0.01% interest, making about $30 a year. He confused having money with having a plan. Saving is just the first step.
Rob Perkins saved $300,000 over 13 years as a freelancer but kept it in a savings account earning 0.01% interest, making about $30 a year. He confused having money with having a plan. Saving is just the first step.
Mistake 1, I confused savings with having a plan. About 13 years ago, I managed to save $300,000, and I was proud of that, and I should have been. Saving that much money while working in freelance took a lot of discipline, but there was a problem. Almost all of it was sitting in a regular savings account earning about 0.01% interest. That worked out to be roughly $30 a year, and I left it there for almost 10 years. At the time, I thought I was being responsible. Every time I looked at that balance, I felt safe. But I had confused having money in the bank with having a financial plan. The mistake was thinking that saving was the finish line. It was only the first step.
