Yesterday 8:27 am
Blackvegetable » Yesterday, 2:55 pm » wrote: ↑ No...
Because savings only matter if they compound.
Your advisor will talk to you about Relative return.
But it is Absolute return that compounds.
You make me laugh with your statements BV."Savings Rate" is not that plastic piggy bank sitting on your dresser, it's your regular deposits into your IRA or 401k. They start compounding immediately.
My Advisor is not dumb enough to point out how crappy he did compared to index benchmarks. (Relative return)
He doesn't because we didn't hire him to beat the benchmarks. His target is 5-8% growth per year. He has hit that even with 2022 in the mix. Doesn't sound like much but it's pushed us very close to a 7 figure account. Possible this year, maybe next year, maybe the following year. It will happen!
You might want to go back for recertification, brush up a bit.