What is Your Number?

By June 30, 2011Main

By:  Rob Schulz, CFP®
June 25, 2010

A large insurance company is currently running an advertising campaign, “Do You Know Your Number?” and I like it so much I am going to steal it!

You should know your number because the first step towards a solution is identifying the problem. For most of us, retirement will by far be the largest financial expenditure of our lives. Therefore, the question is: “How much money do I need to save to be able to retire and remain retired for the rest of my life?”  The answer to the question is your number, and you need to know what it is.

Everybody’s number is different and there are many ways of calculating it. Your number is dependent upon many variables and assumptions that can significantly alter the outcome. With some of my clients I spend a great deal of time and effort carefully calculating and re-calculating their number and progress towards their goal on a quarterly basis. If you don’t know your number, you can start with a simple calculator that is available on my website.

·         Go to: www.firsttexfinancial.com
·         Next, acknowledge if you are a resident of one of the states where I am licensed
·         On the main page, scroll down to the middle-left side of the page and click on Calculators under Retirement & Inflation, then click on Cost of Retirement
·         Input your information into the calculator and it will provide you with your number and several other good things to know (there is even a nice chart you can print out if you want).

Of course, I am available to calculate these things for you personally and will gladly assist in any way I can.  Your number is the first step towards a successful end-stage transition as we like to call it. As always, let me know if I can be of service.

ROB SCHULZ, CFP®

Rob Schulz, CFP® is a Principal with First Texas Financial Services, Corp., and a Registered Representative through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC.  He is also an Investment Advisor Representative through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and FTFS are not affiliated. These are the views of Rob Schulz and not those of Cambridge, FTFS, or any of their affiliates.

Rob Schulz, CFP® is a Principal with First Texas Financial Services, Corp., and a Registered Representative through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. He is also an Investment Advisor Representative through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and FTFS are not affiliated. These are the views of Rob Schulz and not those of Cambridge, FTFS, or any of their affiliates.

By Rob Schulz