As the year closes, it’s a good time to consider the path you’re on. Are you sure that your financial plans will be accomplished? How do you know? Are there questions you should be asking at this point in the journey?
For instance, which matters more – how much money you make, or how much money you save? Economists and financial advisors call this latter number your savings rate, and it’s a key driver of future success.
Do you know how much of your investment you’ll need each year to live in retirement? This is called your distribution rate, and it is a great indicator of whether you will remain on track.
Do You Know Your Numbers?
If you don’t, what can you do to find out? In simple terms, you may need to lighten the load or strengthen the donkey. It usually comes down to one of the two. But while solution may seem clear, changing the direction your pointed in may be hard. We can help with that, getting you forward-facing, and on track.