Good advice. We are around 80% equites right now, probably a little heavy. I have read that your age should be the same as percentage of fixed income so maybe some more GICs are in orderI just looked at your numbers and the math again,
and if your goal is simply to get to NW of $3M, assuming you can put away $100k per year (should be doable on your income, and low mortgage payments) - you get to $3M from your savings contributions alone.
Why bother with higher risk vehicles. I would weight 50-70% in fixed income, the rest in equities, and you'll get to your target at least 5 years early if we assume any reasonable real rate of return.
Thanks Sampson. Good points. Ended up losing a ton of money when the markets crashed in 08 and also owned too many underperforming funds thanks to an Advisor who was obviously chasing the highest commissions before I got rid of her and moved most of that money into ETFs.If you don't already have one, I would make a new plan to get to your $3M in 15-20 years. While it sounds like you tried this in the past and didn't get near where you thought you would, you should have gained some insight as to why your models were limited in the last plan.
Based on your current and future cash flows, and savings rates you should be able to create a couple of scenarios based of varying rates of returns, inflation, and savings rates - you could also try a Monte Carlo simulation if you are so inclined.
This should give you a basis for how much risk/reward you need to expose your assets to in order to reach the goal.