In 100 words or less, how we calculate how much our clients need to retire!Aug 06, 2021
First, we determine how much you spend; without knowing what your ideal quality of life now looks like, it’s impossible to predict the future.
Next, how many years until you retire? What will your life cost you at that point?
𝗛𝗼𝘄 𝗺𝗮𝗻𝘆 𝘆𝗲𝗮𝗿𝘀 𝘄𝗶𝗹𝗹 𝘆𝗼𝘂 𝗹𝗶𝘃𝗲? No crystal balls here, but we usually use 95 as a 'target age' (life expectancy in Canada hovers around 83).
𝗛𝗼𝘄 𝗰𝗼𝗺𝗳𝗼𝗿𝘁𝗮𝗯𝗹𝗲 𝗮𝗿𝗲 𝘆𝗼𝘂 𝘄𝗶𝘁𝗵 𝗿𝗶𝘀𝗸?When projecting outwards 10,20, or 40 years there is little chance in having a consistent return on investment for that entire period, but we need somewhere to start.
Once you have those numbers you can start to make decisions on where to invest, how much to save monthly, etc.
Slide into our DMs if you would like to do your own projection with us. We are happy to do it with no commitment necessary to work together. For real - we are here to help and educate!
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