What is your retirement goal?
What is your retirement goal?
So now you should appreciate why it's important to have a goal. The next question is "What is your retirement goal?" This Step takes you through the things you need to think about to be able to answer this question.
You need to think about:
- Where does your money come from at the moment?
- Where will your money come from in the future?
- What is an appropriate goal for you?
- How much money will you need?
- How much will you want?
- When do you want to retire?
Some people prefer to think about these things in terms of their joint finances with a spouse or partner; whilst others prefer to think only in terms of their own finances. To be honest, so long as you do the same thing all the way through these materials it doesn't actually matter very much. It might help to make a note of which way you've decided to work things out (just pick whichever will be easiest for your circumstances) so that you do the same thing all the way through.