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When I am 37 years old, I check my investments and discover that I now have a portfolio of approximately $128,000. During the preceding 7 years I have fathered three children (two boys and a girl) and they are now at an age where the private schools they attend are costing me an arm and a leg, the house my spouse and I purchased is quite extravagant, and the two cars, insurance, and other of life's amenities are all crowding in on the investment picture. For the next seven years I decide to forgo the monthly investments, but decide not to change the initial investment strategy.
The next 7 years pass by and I am now 44 with gray showing in my hair and small wrinkles appearing about my eyes. I check my investments and discover that the 10% rate of return has held true and because of that my investment portfolio is now at a quarter of a million dollars.
I seriously considering running off to the Bahamas for the rest of my life, but decide instead to stick it out. At this time in my life my career has rocketed forward and I am now earning well into 6 figures. I sit down with my accountant and decide to purchase a million dollar life insurance policy with the family trust as the beneficiary. He informs me that I'm not getting any younger...
I acquiesce. My portfolio is now going to grow at an average rate of approximately 8% but to help it along, I will reinstate the monthly contributions and decide to add $1,000 per month to my portfolio. I am receiving a number of stock options each year in company stock and those will be my retirement nest egg. This portion of my plan should hold true for the next nine years.
I am now 53 years of age and my investment portfolio has grown to just over $700,000. I have stock options that are work over $100,000 and my life insurance is worth $1 million. Since the insurance was a twenty year term life policy I take $200,000 from my portfolio and invest it in whole life insurance of $2 million dollars. I scale back my portfolio so that the asset allocation is at a 50/50 fixed income/equity ratio. I plan on retiring in 12 years and wish to have at least a million dollars in my portfolio.
I'm 65 and retired. My life has reached its apex and the money that I have set aside during the last 42 years has served me well. I have well over a million dollars in my portfolio that I can now withdraw from, I have a paid up $2 million life policy, my house is paid for,…
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