The 26-word Retirement Plan
The 26 word Retirement Plan of most people is the following :
I want to have no Liability, sufficient Liquidity, enough to maintain my Lifestyle for as Long as I live and Leave money behind for my children.
The key is to figure out how much is sufficient liquidity, how much is enough for you to maintain (or enhance) your lifestyle for the rest of your life and how much do you want to leave behind.
This is where the Art and Science of Retirement Planning both come in.
Earl Nightingale said, “As in all successful ventures, the foundation of a good retirement is Planning”.