The Long Game How Much Do I Need To Invest To Be On Track For My Goals?
Feb 7, 2025
Discover the complexities of preparing for a comfortable retirement and work-optional life. Learn about the 4% rule for retirement spending and the pivotal role of social security. Find out why solely depending on software for financial planning could lead you astray. Understand the importance of committing a percentage of your income to investments for long-term success, and the need for personal accountability in your financial journey.
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Financial Responsibility
- Take ownership of your finances and change spending behaviors to overcome debt.
- Cut expenses and find ways to grow income to achieve financial stability.
Retirement Planning Complexity
- Work optionality or retirement requires planning and saving to generate enough income.
- The 4% rule suggests multiplying desired annual spending by 25 to determine the needed portfolio size.
Software Limitations
- Don't solely rely on software for financial planning, as future desires and circumstances change.
- While software can offer a starting point, personal financial goals evolve over time.