Last week we spoke about the seven areas of “MANAGING THE MONEY”.
Today let’s talk about one of them, “Cash Flow”.
Here’s a simple, but powerful budget: during your working years live on 90% of your income and invest 10%, and in your retirement years live on a 5% withdrawal from your investment portfolio.
That’s it. Simple arithmetic. Just three numbers: 90, 10 and 5. This is so simple people overlook it. But you really can ignore all of the complex budgeting schemes and simply live on 90% of your income when working and 5% of your investments when retired.
We can help you customize this approach to your unique cash flow, so you have a strategy for achieving your financial independence.
This memo was prepared solely by Terry and Patty Rempel who are registered representatives of FundEX (a member of the Mutual Funds Dealers Association of Canada and the MFDA Investor Protection Corporation). The views and opinions, including any recommendations, expressed in this memo are those of Terry and Patty Rempel. Bluestone Financial is a personal trade name of Terry and Patty Rempel.
