Good planning depends on two things:
- To have a goal
- To establish a path to reach that goal.
Financial Planning is no different.
Once you zero down on your goals, you need to know what would it take to reach that goal and build an action plan.
One of such goals that everyone plans for is Retirement, or a more modern phrase, Financial Freedom.
Call it by any name (not quoting Shakespeare here), the purpose is the same – to know, how can you retire / achieve financial freedom as soon as possible.
Let’s use our retirement planning calculator to figure this out.
The Retirement Planning Calculator
Few months ago, I had shared with you an Excel-based retirement planning calculator. To say the least, it was a little simplistic. It only told you a constant amount that you need to invest every month.