Measuring 2015 at the Halfway Mark
Author: Craig Featherby
We are into July – which means it is time to do our ‘self checks’ and measure ourselves against our personal goals. People, including soon-to-be retirees, often have big dreams and goals for their retirement for when they have time in their day and are no longer working.
How many of us have realistic retirement goals, should be the question. Do we have misguided thoughts on our future plans? Have we saved enough to be comfortable in order to enjoy them and follow through? Retirement is expensive. Are you on track to maintain your standard of living when you stop working?
Ignoring reality or even failing to take a hard look at whether you’ll have the savings to retire is a fair and important question. Are you on track? People often don’t think hard about their retirement plan until their late 40s or early 50s. These days, it appears, parents are supporting children into adulthood either through lack of employment for them or for personal reasons, yet not all of us can expect to receive an inheritance.
It’s important to figure out whether your retirement savings and investments are on the right trajectory – and if not, by how much they fall short. With Carrick specializing in capital wealth and wealth management our association/relationship means that we can ensure you achieve or at least are well on your way to achieving your retirement goals.
You may like to click into this retirement calculator in order to measure yourself. However, remember, there is never a wrong time to put a plan into place or check your existing policies and how they are performing. It is never too late to take action.
We often create a mindset that we need a million or more to retire but this thought can make retirement feel too distant and unachievable. Don’t be an investor that feels it is so out of reach for yourself that you never start to invest. With the right planning, you can get there. Therefore, ensure you are always checking and re-directing unused funds towards your future goals.
Another fun (or not so fun) tool one can use is to see the reality of how many salary pay cheques you can expect to receive in your life.
Remember, we are half way through the year. We need to measure ourselves constantly against what we set out to achieve, be it to lose weight, to get fitter, to save more, to play more, to enjoy life by laughing more or to plan more. What will make you happy, healthy? Are you half way to achieving your annual goals or that New Year’s resolution? You may have expensive goals in retirement such as funding education for your children or the reality of needing to fund a lavish wedding for your daughters. In this case, all these factors need to be measured and considered and you do not need to sweat this stuff alone. Allow Carrick and our Associates to assist you!
Most of all, have the determination to aim for your life goals. You truly can do it and achieve if not all, many. Take charge of your financial future.