retirement
Although everyone faces different life challenges that are unique to you, these 5 retirement planning tactics can be universally applied to anyone’s personal FIRE plan.
If you have a short time horizon, there is less time for your investment to grow. Plus, if there is a downturn in the stock market, your investment has less time to recover. Therefore, short time horizons are generally better suited to conservative investments.
Budgeting is a key part of managing your financial health. It helps you see where your money is going and where savings can be made. To achieve your FIRE goals, it is vital to have a detailed budget.
I realized that it is necessary to ensure all essential documents are always up to date and kept in a secure place. The benefit of this is that should the worst happen, then an authorized party can easily deal with your affairs.
A professional can help you turn your dreams into a reality. Plus, you save time as you aren’t having to teach yourself everything about investments and financial planning.
When setting your goals decide what you want to achieve and a date you would like to achieve them by. Keep in mind that things can happen fast so be prepared to make changes if you need to.