TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti
We Study Billionaires - The Investor’s Podcast Network
Navigating Variable Income Strategies
This chapter discusses financial management strategies for individuals with variable income, focusing on the importance of distinguishing between fixed expenses and discretionary spending. It also emphasizes the need for a personalized emergency fund to accommodate individual circumstances and prevent debt during unexpected financial challenges.
IN THIS EPISODE, YOU'LL LEARN:
- 14:38 - How to calculate your retirement needs.
- 20:32 - How to determine how much cash you should reserve.
- 39:46 - How to think through investment account types like 401ks, IRA’s, Roths, etc.
- 51:17 - The ideal allocation of index funds.
- 1:00:34 - When to consider alternative investments like real estate or small businesses.
- 1:04:23 - Time and Energy trade-offs while determining your approach.
- 1:08:59 - How to incorporate philanthropy.
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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- Portfolio Visualizer Backtest.
- Katie Gatti Twitter.
- Trey Lockerbie Twitter.
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