How Much Money You Need to Retire (and Why it May be Less Than You Think)

The Personal Finance Podcast

Andrew Giancola

Business, Entrepreneurship, Investing

4.7 • 1.4K Ratings

🗓️ 7 October 2020

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Episode 22: How Much Money You Need to Retire (and Why it May be Less Than You Think) In this episode we cover: How much you need to retire How to Retire Early (FIRE) The safe withdrawal rate The 4% Rule How to make sure you have a bulletproof retirement RESOURCES: M1 Finance Best Place to Invest Personal Capital Free Wealth Management and Budget App CIT BANK (Best Savings Account) ** Some links may be an affiliate link and we earn a small commission at no extra cost to you. We only recommend products we truly believe in. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	On this episode of the Personal Finance Podcast, we're going to talk about how much money you need to retire
0:06.6	and why it may be less than you actually think. Oh, What's up everybody and welcome to the personal finance podcast I'm your host
0:30.4	Andrew founder of Dollar after Dollar.
0:33.1	And today on the podcast, we're going to be talking about how much money
0:37.9	you actually need to retire.
0:40.4	And why it may be a lot less than you actually think.
0:43.0	And I'm going to show you how to run the numbers
0:45.0	so you can figure out how much you need to retire.
0:48.0	And this will give you your exact goal of what you need
0:51.0	so that you can start pursuing financial independence.
0:54.0	Because this number is extremely important.
0:56.0	We just talked about why your savings rate can change your life,
0:59.0	and it truly can, because your savings rate is going to allow you to get to this number, whatever your retirement
1:05.4	number is, to be able to pursue financial freedom, and you can retire a lot earlier than you think.
1:11.0	You don't have to work your entire life and what I'm going to show you
1:14.6	is how much money that you can draw down each year once you hit your number and
1:19.4	how to figure that out as well and we're going to go through the process of, well, what if everything
1:24.3	crashes and the market crashes? What do I do with my money then? Can I still stay retired? And I'm
1:29.0	going to show you exactly how to go through this process. And this is another life-changing episode because understanding
1:34.6	this simple math is going to allow you to truly retire. And a lot of people are doing
1:40.1	this same process and retiring by the age of 30, by the age of 45, and then retiring much earlier than everyone else.
1:48.0	And this is truly a life hack.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Andrew Giancola, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Andrew Giancola and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.