What Makes Up A Financial Plan

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.

What You Need To Know

The three concepts we discuss in Episode 62 that are in your control are:
  1. Your timeline to retirement
  2. The amount you budget for retirement
  3. The rate of speed on investment towards retirement

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.

Where to Listen:

If you would like to learn more on how to set yourself up for a financially planned retirement, you have found the perfect place to help you plan out your next steps. Tune into Episode 62 on Spotify or Apple to find out more. Or press play on the video below.