A cheap solution is to have a server sitting at your office/home that runs a nightly cronjob to rsync backups off your EC2 machine to local disk. Copy that data

A cheap solution is to have a server sitting at your office/home that runs a nightly cronjob to rsync backups off your EC2 machine to local disk. Copy that data to external drives and keep a copy at home. Store another encrypted copy on S3. Or use Tarsnap to handle the security for you. Every few months back it all up to some external drives and store it in a safe deposit box, or use a service like Iron Mountain.