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@Aerospace_Education9 ай бұрын
The sink analogy is a good one. Although if you have kids your drain is going to start getting some holes in it :)
@RunningonFIRE9 ай бұрын
Kids are definitely a major threat to my current plans 😂 The same principles apply, and financial freedom/early retirement is still possible, but it's definitely a little harder!
@uzah888 ай бұрын
Just found your channel. I think you do a great job explaining in very practical ways for the 99.9% of people who need this advice. Thanks.
@RunningonFIRE8 ай бұрын
Thanks so much! That's really helpful to hear: so much financial advice I've seen is not geared towards regular people. Just hoping to help :)
@smaanan9 ай бұрын
How did you calculate the 25x annual expenses to retire? Is there some mathematical proof for this?
@RunningonFIRE9 ай бұрын
I actually have a video coming out in a few weeks on this with a lot more detail! It comes from the Trinity Study. This blog post shows how different withdrawal rates have done in the past: thepoorswiss.com/updated-trinity-study/ There's definitely no proof; it deprived on how the stock market performs. But, at least historically, 4% has usually been safe. Hope this helps, and keep your eye out for my video on it!
@smaanan9 ай бұрын
@@RunningonFIRE Thanks, I look forward to watching your next video on this.
@RunningonFIRE9 ай бұрын
The video I promise at the end is coming soon but isn't quite posted yet. I'll link it when it drops!
@Healthycow9 ай бұрын
Your savings analogy infuriates me with the inflation rate as high as it is. How well did the top savers of the Weimar Republic do? Food for thought.
@Healthycow9 ай бұрын
Put another way... So the government fires a round of buckshot at the bottom of your sink. Now what?
@RunningonFIRE9 ай бұрын
Dang, infuriates? Strong feelings lol I didn't talk about investing in this video, which is the best way to deal with inflation. Stay tuned for a video in the next few weeks about safe withdrawal rates! No matter how high inflation is, saving more money doesn't hurt :) inflation was even higher two years ago but I still managed to grow my nest egg
@Healthycow9 ай бұрын
@@RunningonFIRE I live in Canada where the price of food has tripled in 3 years. Savers are suckers. And following your advice will leave people broken.
@RunningonFIRE9 ай бұрын
@@Healthycow I'm confused... are you recommending people not save their money? What's your advice?