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!