Finance · FORTUNE
Fortune #21
Mixed — reflect carefully
Money set aside today may buy less years from now. Revisit long-term targets with inflation in mind.
QUOTE CARD
A quote for you
“เสรีภาพคือสิทธิในการตั้งคำถามและเปลี่ยนแปลงวิธีการทำสิ่งต่างๆ ที่เคยเป็นมา มันคือการปฏิวัติอย่างต่อเนื่องของตลาด มันคือความเข้าใจที่ช่วยให้ตระหนักถึงข้อบกพร่องและแสวงหาทางแก้ไข”
— โรนัลด์ เรแกน
ประธานาธิบดีคนที่สี่สิบของสหรัฐอเมริกา และอดีตนักแสดง
- Person
- Ronald Reagan
- Source work
- Moscow State University (31 May 1988)
- Source text
- Freedom is the right to question and change the established way of doing things. It is the continuous revolution of the marketplace. It is the understanding that allows to recognize shortcomings and seek solutions.
STORY & REFLECTION
The future price that may move
Guidance-based illustration · The future price that may move
Illustrative scene: A family sets a ten-year education goal using today's tuition. Years later, the old figure may be insufficient even if monthly saving stayed on schedule.
They revisit the likely cost periodically, consider more than one price scenario, and adjust saving or choices when a gap appears instead of waiting until the final year.
The Bank of Thailand advises matching savings to their purpose and timing, with enough liquidity for regular costs and emergencies. A savings plan needs to leave day-to-day cash workable.
A long-term target should change when new information arrives.
Reflection
Long-term goals should consider purchasing power, not only the balance.
A small action today
Add an inflation assumption to a goal several years away.
A question to reflect on
Will today’s target amount buy the same thing when the date arrives?