Financial Planning 101: The Difference Between Hoping So and Knowing So
What does it take to be confident in your retirement income planning? Will your nest egg last? Is it enough? What about an unforeseen event popping up? Will you have enough for the extra things, such as grandkids, travel and relaxation?
It is all about ‘Hope So’ vs ‘Know So’. Here is the difference between the two:
- Hope So: You have no true plan for retirement. You are hoping that things go your way and you are at the mercy of others. You have no control over what happens and you have no guarantees. You are hopeful, but not truly confident.
- Know So: You have a guaranteed plan for retirement. You are in control. You have an income that lasts as long as you do. You have a plan that is in writing that is contractually guaranteed. You have the peace of mind of knowing that your retirement income will always be there for you – no matter what.