58. “If we want to retire, we’d have to live on $36k”
Money For Couples with Ramit Sethi
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What Does a Million Dollars Mean?
Many people in their fifties and sixties realize that the money they've saved is not enough. The four % rule tells you how much income you can eventually get from your investments. If you live from 65 to 95, you could safely take four percent of that amount every year for 30 years. This is a lot of money that they're spending on their children. It's just a number, and it doesn't feel like enough.
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