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Money Rehab with Nicole Lapin
“How Much Should I Be Saving For Retirement?”
Sep 25, 2024
This podcast discusses balancing current desires with future financial needs, emphasizing the importance of saving for retirement over children's education. It explores retirement planning options, IRA offers, and strategies for diversifying retirement savings. The chapter also covers financial aspects such as debt management, the 4% rule, and the rule of 72 for investment growth. Overall, the podcast provides valuable insights into prioritizing retirement savings and making informed financial decisions.
23:13
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Quick takeaways
- Consider diversifying retirement savings with pensions, 401ks, and IRAs to ensure stable income.
- Calculate retirement savings based on desired lifestyle, using 4% rule and rule of 72 for financial goals.
Deep dives
Retirement savings options
There are various retirement savings options available, such as 401k, Roth IRA, and pensions. Pensions guarantee a stable income in retirement, while 401ks and IRAs are linked to the market. It is important to diversify retirement savings and consider factors like employer matching and tax implications.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode