Gen One Legacy
Gen One Legacy
Sep 11, 2020
These Two Techniques May Help You Avoid Gambling with Your Financial Future
Play • 11 min

How certain are you that you'll achieve your crucial financial goals? Even if you've had the most basic experience preparing for the long-term, you likely know that having the right financial target in mind for retirement, financial independence, or a big-ticket purchase is vital to a successful planning outcome. But did you know that basing your financial allocation decisions on a static, unchanging view of the world might leave you gambling with your financial future?

 Indeed, understanding how your financial target may rise or fall based on shifting financial and economic conditions or varying lifestyle preferences is vital to the success of achieving your long-term goals. So, how can you sift through these varying factors and identify the right savings target for you? That's where two techniques – scenario analysis and Monte Carlo simulations – play critical roles. Rather than coming up with one fixed solution, you can use these tools to choose from a host of possible outcomes, enabling you to make more informed planning decisions and likely increase your chances of success as you prepare for the future. 

For more information, read our latest report at https://fimastery.com

 Learn more about Franklin Madison Advisors by visiting: https://franklinmadisonadvisors.com/

 Be sure to follow us on Twitter: @fmadvisors and Instagram: fm_advisors

 

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