Putting your investing on autopilot is often a useful strategy when you are accumulating assets, but as you approach retirement, your portfolio could likely benefit from regular monitoring and these adjustments.
The Rule of 25 is far from perfect, but it can be a good way to get a rough figure on the size of the nest egg you will need for retirement.
These items may not be appealing but can be beneficial when incorporated into your retirement plan. Even if you decide against using these strategies it would be prudent to explore their potential benefits.
We have no idea what your future in retirement will hold or what the economy will look like but the core principles and saving, investing, and prudent preparedness will remain the same.
You can make creating a financial plan an event, something that you do once, where you place the resulting binder on a shelf to remind you of its completion. Or you could make financial planning a practice where you regularly review your plan and make informed decisions and adjustments as life plays out.
In training and investing, we are dealing with limited resources and have to find balance and make compromises as a means of achieving our set objective.
Risk presents itself in many forms and changes with time horizons. Balancing the type of risks you face is an art rather than a science.
If 2020 taught us anything, it’s that we humans are adaptive creatures and can adjust to things that before never thought could happen.
Uncertainty of the future will always be present and optimism may become scarce. Prepare for these times, but have faith that a better future will prevail.
What is RPE? When I exercise, I track the number of reps, weight used and judge the difficulty of each set by estimating my rate of perceived excretion (RPE). Rate of Perceived Exertion is a way to measure the intensity of an exercise. It is based on a 1-10 scale, with 1 being a very lightContinue reading “How to use RPE in Retirement Planning”