Ep.40- Are You on Track?

2023-11-13

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🚗 Are you on track for the ultimate retirement road trip? 🌐 A retirement plan can look a lot like a GPS. Let me draw you the analogy. 🗺️ Retirement Age: It's like setting your destination on a GPS. When do you want to arrive, and how much time until then? The clock is ticking – 35, 20, 10, 5 years? 📊 Budget and Income: Your cash flow statement is the blueprint. Are you utilizing all your income, or is there room for improvement? How well is your plan put together – pencil & paper or a hi...

🚗 Are you on track for the ultimate retirement road trip? 🌐

A retirement plan can look a lot like a GPS. Let me draw you the analogy.

🗺️ Retirement Age:

It's like setting your destination on a GPS. When do you want to arrive, and how much time until then? The clock is ticking – 35, 20, 10, 5 years?

📊 Budget and Income:

Your cash flow statement is the blueprint. Are you utilizing all your income, or is there room for improvement? How well is your plan put together – pencil & paper or a high-tech Excel spreadsheet?

⛽ Current Retirement Savings:

Think of it like the gas in your tank. Where are you in your journey – ahead or behind schedule? Here are some mileage checks based on age:

30: 0.5x of salary saved

40: 1.5x to 2.5x salary saved

50: 3x to 6x salary saved

60: 5.5x to 11x salary saved

📈 Evaluate Investments:

Adjust your speed based on risk/reward and expected returns. What's your financial speed limit, and is your risk tolerance aligned with that?

💼 Assess Retirement Accounts:

It's like assessing your ride – is it efficient? Are you in a sleek sports car, reliable hybrid family vehicle, or a slow-moving tank? Your retirement vehicle matters!

💰 Calculate Your Retirement Number:

This isn't just getting to your destination; it's planning to get you home. Let's ensure you have enough gas for the whole journey! The goal is to have enough retirement savings to live off the interest.

🤝 Professional Guidance:

Like having a co-pilot, a financial planner (that's me!) can guide you through the twists and turns. Consider this a pit stop for a no-cost retirement plan.

Remember, it's not just about reaching your destination; it's about enjoying the entire ride. Let's make your retirement journey smooth and memorable! 🛣️

✨ #FinanciallyOnTrack #FinancialGPS #WealthyHOMES #Ep40

Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, NY & WA. Member SIPC

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