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Course 102: Determining Your Goals and What They'll Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Years in Retirement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Next, project how long you'll need to be paying for your goal. Say for a moment that your goal isn't retirement, but sending your child through college. Will that expense stretch out over four years? Or is postgraduate study in the little one's future, too? Or maybe your goal is saving for a home and paying off a mortgage. The easy part is figuring out what you'd like to put down. But do you plan to use your investments to help pay your mortgage? If so, the goal for this pool of money may extend over 20 or 30 years, depending on the terms of your mortgage. Next: The Quiz >> |
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Learn how to invest like a pro with Morningstar’s Investment Workbooks (John Wiley & Sons, 2004, 2005), available at online bookstores. | ||
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