Creating a financial plan for your retirement is crucial for success. In our latest podcast episode, we break down the three core concepts you can control and how to prioritize to reach your ultimate retirement goals.
You are in the driver seat of your financial retirement plan, and you can make the decision on when you want to retire. Let’s take a moment to snapshot where we are today to see where we will be in the future.
Imagine skipping rocks at a lake. Once the rock hits the water surface, you will see the ripple effect in the waves. The initial rock hitting the water are the actions and steps you take within your control towards retirement. While the ripples in the water are the path leading up to your retirement goals.With knowing what concepts are in your control, we can work with the concepts that are out of our control. Interest rates and inflation are ever changing; rapidly changing in today’s times.
We must be prepared to work around the forecast of the ever-changing market. A part of this plan is understanding the Rule of 72 which, in short, is a rule to use to estimate the number of years it will take to double your invested money.
We dive a bit deeper in this episode on how to apply the Rule of 72 as well as give examples on how the estimate works.
