This segment of the Four C’s focuses on Comfort.
Basically, what is your view of a satisfying retirement – what’s your vision of success?
- Life Style Goals
- Live comfortably – However you define it
- Free of financial concerns
- 35% of pre-retirees are not prepared for retirement
- 50% are not comfortable with their retirement plans
- delaying retirement is not a valid back-up plan
- 47% retire earlier than planned
- Stock Market Fluctuations
- How important is the Safety of your investment versus the Return on your investment
- 76% of pre-retirees prefer a nominal guarantee
- How important is the Safety of your investment versus the Return on your investment
- Expense Pyramid
- Identify which category your expenses fall into
- NEEDS – Basic livings expense
- WANTS – Travel, entertainment, etc.
- WISHES – Legacy goals
- Clearly understanding which category each expense fits into will allow you to manage and monitor your various income sources
- Depending on your situation, you may want to consider an income / investment strategy that is appropriate for each expense category.
- Identify which category your expenses fall into
The next installment will discuss the last two C’s.