This simple chart shows what you can and can't control when planning for retirement
The 6 factors that make up a 'sound' retirement plan.
- By Catey Hill,
- MarketWatch
- – 03/14/2019
Worry most about the things you can control — but don’t ignore the rest.
That seems to be the advice from J.P. Morgan Chase, which recently released its 2019 Guide to Retirement. One of its leading charts, which it notes is a “sound plan for retirement,” is a look at the factors that those planning for retirement can — and can’t — control.
The company reveals that saving and spending are in your “total control,” while market returns and policy regarding taxation, savings and benefits are “out of your control.”
J.P. Morgan Chase’s conclusion from all this: “Make the most of the things you can control but be sure to evaluate factors that are somewhat or completely out of your control within your comprehensive retirement plan.”
So, to make the most of the things that are all or somewhat in your control — saving vs. spending and asset allocation and location, as well as longevity and employment earnings and duration — here are some simple guidelines to help you get started. Use the plus signs in the chart below to access additional information from the factors you can control.
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