The Financial Planning Process: Your Route to Financial Independence!
The financial planning process is all about “planning” for your retirement far in advance of your arrival there.
You need to think of retirement as a destination. I like to call it “The Promised Land!”
6 steps to map out your retirement plan
Decide what you want your retirement to look like and by when (location, activities, etc).
Figure out how much money it’s going to take to have that vision (from step 1) become a reality.
Consider what kind of investment performance you can rely on to supercharge your savings effort, which will in turn fund your retirement days.
Determine how much money you need to be saving along the way, to put into your “supercharger-machine,” to accumulate that nest egg.
Start tracking your finances so you can establish a total required ongoing income to survive the trip to retirement. Then keep “tracking” them so you stay “on track.”
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