I like to do my final review at the end of each year as to how financially I performed relative to the goals I set for myself the year before, and thus, set new goals for the next 12 months. This has worked great during the accumulation years as I was stashing away dough and was generating income with the overall goal of growing my net worth year after year. There was a definite sense of measurable accomplishment, especially when I met/surpassed the goal posts set. Now, as I transition over to the withdrawal side, I am stuck scratching my head wondering what goal setting should look like for my finances and what I really should be measuring?
- Making sure my WR is less than __%?
- Making sure my expenses do not exceed budget?
- See my net worth still grow by some %?
While working and saving, it has always felt like I had allot more control of my measured success (i.e. work harder and make more $$ to help hit goals).
No longer having my super powers puts me at the will of Mr. Market and my planned spend/WR, so not sure how much control I have on my "financial goals" for the next 12 months... and should I even have any at this point since I hit the desired FI number?
How do you measure a successful 12 month run in retirement year after year?
- Making sure my WR is less than __%?
- Making sure my expenses do not exceed budget?
- See my net worth still grow by some %?
While working and saving, it has always felt like I had allot more control of my measured success (i.e. work harder and make more $$ to help hit goals).
No longer having my super powers puts me at the will of Mr. Market and my planned spend/WR, so not sure how much control I have on my "financial goals" for the next 12 months... and should I even have any at this point since I hit the desired FI number?
How do you measure a successful 12 month run in retirement year after year?