This is probably the most popular question I get I get asked. When do I have enough? when is my savings enough? And the truth is that it's an extremely difficult question because it really depends on factors that are unknown and out of mine and yours control. Inflation is a fact of life, the evidence that inflation will continue is overwhelming, so in a sense we can say this is the known. Inflation is a factor we know will come into play, what we don't know is the rate of inflation. So that makes our challenge a little harder.
None the less there are strategies we can put in place that account for the unknown rate of inflation, we can invest in a particular way that means our return on investments will actually account for the rate of inflation. So even though its an unknown we can still strategize for it.
A simple concept to solve what may have seemed an impossible task at the start of the last paragraph, and that is why I have started this blog. Over my series of educational blog post I will explain in detail where you can place your investments so you can ensure that you have enough.
But James, when is enough enough? That is not a simple answer and will depend on where you want to live when you retire, whether you want to travel and what your current assets are right now in relation to your age.
Follow along and you will learn more about these core concepts.