Financial goals are objectives or milestones that you want your money to cover at a specific time. Whether it’s building an emergency fund, becoming debt-free, or going on a fabulous vacation, your financial goal needs to be clear.
Five easy steps to Setting Your Financial Goals
As a PEPP member, it just makes sense that you tap into this invaluable resource.
The schedule of upcoming workshops is always available on the PEPP website. If you’d like to review the workshop outline and register, you can do it at through our learning events page.
You can only read so many books, watch so many reruns and plant so many gardens when you’re retired. Frequent globetrotting likely isn’t affordable, either.
So, how will you spend the next 15, 20 or 25 years (or more) of the next stage of your life?
When you own a registered account such as your pension plan, one of the things you will need to do is name a beneficiary. Completing the Designation of Beneficiary form allows you to state where your assets will go after your death. You can choose specific individuals or charities. Each option has many important benefits, as we explain below. We’ll also discuss considerations to think about when choosing beneficiaries. It may not be as straightforward as you think!
Timing, they say, is everything. Except when it comes to retirement.
There is no perfect age to retire because there are so many factors unique to each situation.
What is common for most retirees is a few lifestyle changes and adjustments – the biggest of which may be transitioning to more of a defined fixed income.
Confined to a dollar limit each month can be challenging, especially after decades of relatively unharnessed spending habits.
A few tips when transitioning to a fixed income:
Are you ready for retirement? Let’s find out.
Calculating your net worth will bring your financial picture into focus and provide you with a better understanding of what you’ll need to do to best prepare for retirement.
In conjunction with the CREATE workshop, take a shot at the Retirement Planning Worksheet. Finally, a math quiz you can ace.
It’s an easy-to-use worksheet that calculates your monthly cash flow and expenses to determine your net worth.