2020: Why is it So Hard to Retire? By Chris Odegard

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🗓️ 5 September 2022

⏱️ 13 minutes

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Summary

Chris Odegard of The Prolific Investor talks about why it's so hard to retire Episode 2020: Why is it So Hard to Retire? By Chris Odegard Chris writes an alternative investment blog called The Prolific Investor. Chris wants you to challenge conventional wisdom when it comes to investing, personal finance, and money; so you can make work a choice instead of a necessity. The original post is located here: https://theprolificinvestor.net/41-why-is-it-so-hard-to-retire/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 2020.
0:04.2	Why is it so hard to retire by Chris OdaGuard of the prolificinvestor.net?
0:10.6	And I'm your host and personal finance enthusiast, Diana Mariam.
0:14.4	Let's jump right into today's post to start the week as we optimize your life.
0:24.4	Why is it so hard to retire by Chris OdaGuard of the prolificinvestor.net?
0:31.6	If you've read any of my writings, you know I come down hard on conventional investing
0:36.8	wisdom as inferior at best and a downright failure for most people at worst.
0:43.4	But before I continue my rant on this flawed philosophy, I need to discuss two of its
0:49.0	popular principles.
0:51.0	Number one, building a balanced portfolio of stocks, bonds, and mutual funds through
0:56.2	401Ks and IRAs.
0:58.8	And number two, the 4% rule.
1:02.0	The first principle is to contribute the maximum amount to your employer's 401K and invest
1:07.6	it in a diversified portfolio of stocks, bonds, and mutual funds.
1:12.3	Then, when you decide to stop working, you regularly sell off your portfolio shares
1:17.7	to produce the cash flow to pay your bills.
1:20.7	This is where the second principle comes in.
1:23.4	The second principle is the 4% rule.
1:26.4	The 4% rule was developed in 1994 to provide an easy way for retirees to determine how much
1:33.6	they should withdraw annually from their portfolios.
1:37.5	Regardless of how you feel about conventional investing wisdom, let's apply the 4% rule
1:43.5	and see what it tells us.
	...

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