Tom Hartmann writes this article for NZ Herald and suggests looking at your financial plan like you do at Google Maps. “First there’s the blue dot: where we are now. Then there’s the red pin: where we want to get to. And to connect the two, there’s the squiggly blue line: how you get there.”
“For example, let’s say we drop a red pin goal of $1,000-a-week income in retirement, in 25 years. Depending on the blue dot of where we are now (how much we’re setting aside for the long run), we can chart whether we’re on track or not. If we’re going via KiwiSaver, we can estimate whether we’ll arrive at the destination on time. Maybe we’ll need to adjust our settings or find additional ways to fund those years after we stop working.” Hartmann says and directs readers to Sorted’s Retirement Planner Calculator.