Creating a financial plan to see you through 25 years of unemployment, called retirement, is like descending through a heavy cloud cover to land your airplane. The secret is to dial in your power settings and make small adjustments along the way. - The Coffeehouse Investor's Ground Rules, Chapter 6.
Four years ago, I suspect no one predicted:
- A global pandemic caused by COVID-19.
- Skyrocketing interest rates.
- A maddening bear market involving both stocks and bonds.
- The demise of the Pac-12 conference.
If predicting the next 4 years is futile, how likely are we to predict global markets and portfolios over the next 25?
Fortunately, for Coffeehouse Investors, there is no need to predict the future to create a successful financial plan that will see you through your retirement years.
I say this from my personal experience of connecting with Coffeehouse Investors of all ages over the past 25 years who have been diligently dialing in their power settings of . . .
- Saving while working.
- Spending (real and expected) in retirement.
- Understanding spending increases during retirement, otherwise known as a personal inflation rate.
- Expected growth rate of one’s portfolio.
. . . and making small adjustments along the way.
It all starts with creating your financial plan.
Charles Schwab reveals, in research carried out by Strategic Business Insights, that having a financial plan can lead to 2.7x higher net worth on average at retirement.
How are you coming along with yours?
Make a Plan
For the past 25 years, I've built financial plans for clients to help them reach retirement goals. If you have $1 million or more of investible assets and are in or close to retirement, let's connect and start building your financial plan.