8 critical questions you need to answer today
Are your financial goals clear?
Saying "I want a lot of money in retirement" isn't a clear goal. Goals should be measurable. An example might be, I want to retire at 66. I hope that in addition to my Social Security income, I will be able to pull $40,000 from my collective investment portfolio. It is my hope that I can pass a legacy of at least $250,000 to my children. I want to stay in my home until I die, and I want to be certain that my assets will provide each of my grandchildren with a $10,000 each to support their education costs. Focusing on "A Number" is a delicate and fragile approach to achieving a successful retirement.