I hope this message finds you well as we head into the last three months of a very tumultuous 2020.
For those of you who are ready to get started on a custom designed financial and investment plan, please note that our highly popular wealth building services are currently booked through the month of October. We do have the capacity to accept new clients in November and December, so please get on my schedule now (click here
) if you wish to reserve a spot for your beginning consultation. If you've already scheduled a time to talk with me, I've penciled you in to start planning when you are ready.
Why start investing now?
Many of the high earning optometrists we talk to know that they need to start a long term savings and investment program for retirement, they just don’t know How to start. Or When. You can leave the How to us. That’s what we do. As for When, time can be your investment friend or, your investment enemy as you will see in the examples below. Consider these three hypothetical examples of optometrists on different time frames who want to create a nest egg that will allow them to retire at age 65;
Invest $600,000 over ten years
Dr. Senior is 55 years old and like many high earners we work with, has delayed starting his investment program in order to pay down personal debts, build a nicer office and hire more staff. Now that retirement is looming clearly on the horizon, he is ready to go all in and invest $60,000 per year toward his future nest egg. Assuming he puts in $60,000 per year for ten years ($600,000) at a after tax return of 8%, he will have a portfolio worth $869,193.
Invest $600,000 over twenty years
Dr. Middler is 45 years old when she decides to start her investment program with $30,000 per year. Assuming she puts in $30,000 per year for twenty years ($600,000) and gets a hypothetical after tax return of 8%, she will have a portfolio worth $1,372,858.
Invest $600,000 over thirty years
Dr. Young is 35 years old when she decides to start her investment program with 20,000 per year. Assuming she puts in $20,000 per year for thirty years ($600,000) gets a hypothetical after tax return of 8%, she will have a portfolio worth $2,265,664.
Time is the most powerful force in investing. If you want to do better as an investor, the single most powerful thing you can do is INCREASE your time horizon. It makes little things grow big and big mistakes fade away. Time can’t neutralize luck and risk, but it will push your results closer to what you deserve. I look forward to hearing from you!
FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY.
The views expressed here are as of the date of publication and are subject to change. This information should not be construed as investment advice. It is presented for information purposes only and is not intended to be either a specific offer (or recommendation) Hayes Wealth Advisors to sell or provide, or a specific invitation for any investor. Information herein may have been obtained from sources believed to be reliable, Hayes Wealth Advisors is unable to warrant its accuracy.
All data, projections and opinions are as of the date of this report and subject to change.
Investing involves risk, including the possible loss of principal. Past performance is no guarantee of future results.
Hayes Wealth Advisors does not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. All recommendations must be considered in the context of an individual investor’s goals, time horizon, liquidity needs and risk tolerance. Not all recommendations will be suitable for all investors.
Investments have varying degrees of risk. Some of the risks involved with equity securities include the possibility that the value of the stocks may fluctuate in response to events specific to the companies or markets, as well as economic, political or social events in the U.S. or abroad. Bonds are subject to interest rate, inflation and credit risks. Treasury bills are less volatile than longer-term fixed income securities and are guaranteed as to timely payment of principal and interest by the U.S. government. Investments in foreign securities (including ADRs) involve special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments. These risks are magnified for investments made in emerging markets. Investments in a certain industry or sector may pose additional risk due to lack of diversification and sector concentration.