Lesson 30 Forecasting Your Needs
Forecasting your exact retirement needs may be impossible, but that doesn’t mean you shouldn’t plan for the lifestyle you want.
Early in Your Career
Nobody can make an accurate financial forecast over a 40-year time horizon. A tiny little change in assumptions will grow to an enormous change in outcomes. It’s delusional to think anything else.
But, if you are early in your career, don’t throw up your hands and do nothing. If you can’t set a realistic retirement income goal today, you can still plan for your retirement. Set a savings goal, invest wisely, and keep the discipline over your entire career.
Even relatively modest amounts grow to significant retirement capital over a long time horizon. ...
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