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it takes the same high success rate to have 4% of 300k last 30 years as it does 3 million .... all the same rules about allocation applies... mistakes are just as damaging to the sustainability
The "rule" is useful as a starting point, to be modified depending on your personal situation (do you have marginally enough or a lot more than enough?) and risk tolerance (would you be inclined to dump all your stocks in a downturn?).
Some have argued for lower stocks upon retirement but increasing stocks when well into retirement.
Then you'll need to consult one and not make guesses or overly rely on broad generalizations spouted everywhere with no understanding of the underpinnings and whether they apply to your specific situation.
I have a CFP at fidelity. I've got a plan that we worked out. I just went last night too see what somebody else said (and get a free dinner).
You guys that manage your own money, do you also handle your own medical, legal, and taxes too?
I've got a guy for each one of those, just like I've got a guy to manage my finances.
I have a CFP at fidelity. I've got a plan that we worked out. I just went last night too see what somebody else said (and get a free dinner).
You guys that manage your own money, do you also handle your own medical, legal, and taxes too?
I've got a guy for each one of those, just like I've got a guy to manage my finances.
Been handling my own money for 30 years ....money mgmt is not hard if you take the time to learn.....no different then developing the skills to drive car cook do you need a professional driver ? Do you need a chef ?
What is hard and complex is good tax planning and can require a pro....
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