Thursday, 18th June 2015
How much will I need in the bank to retire on?
It's a simple question to ask, but not as simple to answer.
You need to allow for inflation, changes in economic circumstances (both at a personal and societal level) and planning for the unexpected.
It adds up to an equation that most people are too scared to deal with - let alone too busy to sit down and look at the sums.
I truly believe that regardless of all the unknowns, it's a figure you need to come up with.
At the very least, it will help you work out if you have the time to save for retirement.
You can then start working towards that figure - and decide how many properties you will need to fund your twilight years.
My strategy is to continually invest in property, then sell off as our money runs out (remember I am spending the kids inheritance… lol… and I love to shop and travel!).
Until next time,
From the desk of Christine.