Creating necessary objects for investment Goals
What if you don’t know how much you need for retirement or a wedding? Well, for starters, you could use Google. Of course, depending on where you live or where you plan to retire, some of the information you find could be quite misleading. Then, you’d have to make some assumptions about inflation for Goals that are decades into the future. Quickly, this can become overwhelming in complexity for the average investor. Let’s look at one possible approach to assist. In the following screenshot, we’re looking at an example of using a questionnaire to gather retirement Goal inputs.
Figure 6.2 – Example from Bambu’s Goal Helper API
From the screenshot, you’ll see several complementary methods of estimating Goals. Let’s break them down:
- We use proxy questions to estimate the target Goal amount when the target amount itself isn’t simple to decide...
