The goal is to make full use of your money during your retirement. Make sure it lasts as long as you do but make sure you don’t have too much left when you die either!
Planning isn’t compulsory – it just makes spending & investment decisions easier
Can we retire early? How much can we afford to spend? Can we give some money to the kids now? I’m sure we have enough to travel more, but I can’t convince her (or him)!
Checking your figures annually will keep you in control. Most people have a time frame of decades and it’s impossible to plan spending or investments that far ahead. So it’s essential to review and adjust annually.