Chapter
The 4% Rule for Retirement
28:37 - 31:06 (02:28)
The 4% rule is a retirement planning concept that dictates that you can safely withdraw 4% of your retirement accounts annually, adjusting for inflation, without risking running out of money. This rule can help you determine how much you need to save for retirement and how much you can safely withdraw each year.
Clips
The guest discusses selling his business at the age of 41 and achieving the lifelong goal of having enough money to not work again.
28:37 - 29:19 (00:42)
Summary
The guest discusses selling his business at the age of 41 and achieving the lifelong goal of having enough money to not work again. He reflects on his changing perception of how much money was needed to achieve this goal and his skepticism of the 4% rule in personal finance.
ChapterThe 4% Rule for Retirement
EpisodeSaas Companies that Anyone Can Start with Rob Walling
PodcastMy First Million
In this episode, the 3% rule for retirement savings is discussed, which states that if you want to live off of $150k a year, you need to have $5 million in the bank.
29:19 - 30:23 (01:04)
Summary
In this episode, the 3% rule for retirement savings is discussed, which states that if you want to live off of $150k a year, you need to have $5 million in the bank. Anything north of $10 million is excess, according to the host.
ChapterThe 4% Rule for Retirement
EpisodeSaas Companies that Anyone Can Start with Rob Walling
PodcastMy First Million
The speaker explains that he sold his bootstrapped company because he was burnt out and stressed, and the prospect of having enough money to control his own destiny was the only reason he considered selling.
30:23 - 31:06 (00:42)
Summary
The speaker explains that he sold his bootstrapped company because he was burnt out and stressed, and the prospect of having enough money to control his own destiny was the only reason he considered selling.