I always like to have a plan and the start of the year is as good a time as any to put one together. As the phrase goes, “if you don’t know where you are going you are not likely to get there”.
Setting an objective is the easy bit but it does have to be realistic. No use setting a target of converting $10,000 into a million by the year end, nice if it happened but it’s close to expecting to win TattsLotto. Our objective for some time now has been to pay our pension whilst keeping our capital intact. At our age we can probably afford to ignore an allowance for inflation and maybe even run our capital down a little but running down capital doesn’t feel comfortable so we stick with a stable capital base.
The how to get there is much more of...Continue Reading