Retirement Rules Of Thumb You Should Ignore
Do phrases like “buy low and sell high,” and “pay yourself first,” sound familiar?
Rules of thumb in finances are exceptionally common. Navigating your financial affairs without some helpful and easy-to-remember phrases, would be impossible for many of us to do.
However, not all rules of thumb are correct!
So this week on the One Minute Retirement Tip podcast, I’ll talk about a handful of retirement rules of thumb. This is especially important for those of you who are close to retirement, and might be better off ignoring these rules… or adjusting them to better suit your individual situation.
✅ False: Save 10% Of Your Income For Retirement
✅ False: Keep 100 (or 120) Minus Your Age In Stocks
✅ False: Withdraw 4% of Your Portfolio For Income In Retirement
✅ False: Spend No More Than 1/3 Of Your Income On Housing
✅ False: Always Pay Cash For Cars
To learn more, be sure to listen to this week’s intro episode and subscribe to the One Minute Retirement Tip wherever you listen to podcasts. Episodes 981-987