It’s almost impossible to know what kind of golfer you are if you do not keep score and you don’t count every shot. It’s also much easier to think you’re much better off financially if you’re not really keeping score.
Do you know where you are financially? Do you know the answers to the following 4 questions? Would you like to know?
1. What rate of return do you have to earn on your savings and investment dollars to be able to retire at your current standard of living and have your money last through your life expectancy?
2. How much do you need to save on a monthly or annual basis to be able to retire at your current standard of living and your money last till life expectancy?
3. Doing what you are currently doing, how long will you have to work to be able to retire and live your current lifestyle till life expectancy?
4. If you don’t do anything different than you are doing today, how much will you have to reduce your standard of living at retirement for your money to last to your life expectancy?