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Your Financial Plan Should Start with the End in Mind


Roadtrip

You can think about retirement and your life, for that matter, as a roadtrip! If you take a roadtrip, you don’t simply hop in the car and just start driving - you need to know where you’re headed so that you can make the right decisions - left, right, hit the gas or the brakes!

You want to plug in the final destination and then plan your route accordingly.

When it comes to achieving your financial goals in life, we at Compass Financial can’t know if you’ll be able to achieve them without first defining what those goals are and understand where we are helping get you to.

So if we know we are starting here, then we have to define where we want to end. Then using a little ‘reverse-engineering,’ we figure out what steps need to happen back to front and that becomes your financial roadmap.


Financial Path


Mathematically, we are going to reverse engineer how to achieve your goals from your starting point.

Sometimes this process reveals that there are deficiencies or big strides that need to be taken to over the next 5, 10 or 20 years with your contributions in order for your financial plan to work.

It also allows us to see that if you’re not currently on track to hit your goal, then we either need to readjust our goal or readjust our savings strategies.

Either way, it’s an exercise and activity that allows people to know whether or not their goals are possible and if so, how to achieve them.

This idea of reverse engineering your financial plan gives people the confidence they are moving in the right direction or if they are planning in advance, gives them the time they need to make necessary adjustments.

Ready to enjoy the ride? Find some time on our calendar below to map out your future 😎



Your Compass Financial Team

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