90% of People NEVER Build Wealth Because of THIS

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Running on FIRE

Running on FIRE

Күн бұрын

Пікірлер: 14
@RunningonFIRE
@RunningonFIRE 9 ай бұрын
New mic coming soon, sorry about the background noise 😭 If you don't want to deal with mic issues, check out my newsletter: running-on-fire.com
@Aerospace_Education
@Aerospace_Education 9 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 :)
@RunningonFIRE
@RunningonFIRE 9 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!
@uzah88
@uzah88 8 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.
@RunningonFIRE
@RunningonFIRE 8 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 :)
@smaanan
@smaanan 9 ай бұрын
How did you calculate the 25x annual expenses to retire? Is there some mathematical proof for this?
@RunningonFIRE
@RunningonFIRE 9 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!
@smaanan
@smaanan 9 ай бұрын
@@RunningonFIRE Thanks, I look forward to watching your next video on this.
@RunningonFIRE
@RunningonFIRE 9 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!
@Healthycow
@Healthycow 9 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.
@Healthycow
@Healthycow 9 ай бұрын
Put another way... So the government fires a round of buckshot at the bottom of your sink. Now what?
@RunningonFIRE
@RunningonFIRE 9 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
@Healthycow
@Healthycow 9 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.
@RunningonFIRE
@RunningonFIRE 9 ай бұрын
@@Healthycow I'm confused... are you recommending people not save their money? What's your advice?
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