Not exact matches
The less risk you're willing to
take, the lower the return you're going to earn — and the harder it will likely be for you to
achieve such long - term
goals as building a nest egg for
retirement and ensuring that nest egg will be able to support you throughout a post-career life that, as this longevity calculator shows, could last 30 or more years.
When I speak with new clients, they almost all tell me that they want me to help them
achieve their
retirement goals on reasonable terms (i.e., without
taking too much risk or sacrificing too much of their current lifestyle).
For example, it someone earned $ 100,000 every year for 30 working years, and wanted $ 50,000 per year for 30 years in
retirement (assume no inflation), what would it
take to
achieve this
goal?
That was followed by: not outliving their savings (46 %), tax efficiency of savings and investment (43 %), having a health care plan (39 %),
achieving their investment return
goals (36 %), having an estate plan (26 %), retiring earlier (22 %) and delaying
taking Social Security in
retirement (21 %).
A long - term
goal is generally one that will
take five years or more to
achieve, like building up a
retirement fund to support you and your family.
However, with its more flexible features, the TFSA can help you
achieve a variety of short - and long - term
goals, from supplementing your
retirement savings to
taking that dream vacation.
My
goal is to educate, challenge and encourage each of you to
take the steps necessary to
achieve success and financial independence on your journey toward
retirement.