Have you wondered if you (or someone you love) could fund all your money goals without running out of money? When money is flowing into your bank account on a consistent basis, it is easy to take it for granted. However, what happens when the paychecks stop coming? Will social security, pensions and your savings allow to continue? Worse yet, what if you can’t fund the child’s education because your lifestyle spending didn’t account for it. Instead of feelings of regret, why not get an assessment today?
Can you fund all your money goals without running out of money?
Addressing this question properly, starts with what are your expectations for your life today? What are your expectations for retirement? Travel, visit grandkids, starting a new career, working your with through your bucket list, going to the mall to browse (my mom). Each of those comes with a different price tag. By the way, how many cars will you need? How often will you need new ones?
How do you answer these money goal questions?
What are your money goals?
- Which money goals are actually financial needs?
- Which money goals could be categorized as a want or even a wish?
- What are your expectations for retirement?
- How much will they cost?
- How much have you saved for each of your money goals?
What are your concerns?
- Running out of money
- Suffering investment losses
- Living too long
- Being bored
Answers to these questions will allow us to calculate a probability of funding all of your goals. The probability is based on varying market returns against your savings. It assumes that you will save as agreed and not be hit with an unforeseen issue. Many unforeseen issues are better categorized as undesirable. Some of these can be hedged with some risk management strategy.
Your $795 money goal assessment
Using our technology, we can project your probability of funding all of your goals. The scores go from 0 to 99%. A good target is 75%. That means that you have a good balance between your current lifestyle and your future money goals. Below 60%, you have too much risk for you your age and not enough protection against future shocks.
If you are not in the Confidence Zone we can discuss ways we can help you. Many of our clients use us on an ongoing basis. Others prefer to check-in on occasion and implement things on their own. Often couples find themselves disagreeing on all things financial. This is a great way to focus on defining actions to take in pursuit of agreed upon money goals.
Contact us to learn more. A short 30 minute assessment call will help determine if our guided or advisor led path is right for you.