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How to Avoid The Summer Travel Chaos & Preventing Regrets About Money

Something You Should Know

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Having Targets for Your Income and Net Worth

The 4% rule states that if you withdraw from your retirement portfolio at a 4% withdrawal rate, you will likely not run out of money for the next 30 years. Let's say you build a $1 million portfolio and you withdraw it 4%. That means it can provide $40,000 a year in income,. So you've got to decide is $40k a year of lifestyle that you want. And if it's not, then maybe you need to accumulate more capital. Maybe one million dollars by the age of 60 is not enough. Maybe you need 2 million because you want to, you want to spend $80K.

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