You’ve most likely heard plenty of “rules” you’re supposed to follow to retire successfully. Some of these rules are stated so confidently, you’d be crazy not to immediately accept them as fact.

But we don’t mind the threat of being called crazy, so Nancy and Sean will dive into some of the most popular retirement “rules of thumb” to see if they truly lead us down the path of good financial guidance or run a chance of leading us astray.

You’ll always want to consult with your financial advisor for each of these rules because your situation might be different than someone else and you want the best plan for your future.

Here are some of the things you’ll learn on this episode:

• How the rule of 100 is used to determine risk but not always perfect for each situation. (7:28)
• The rule of 72 is a great way to determine how long it will take your money to double based on the rate of return you’re generating. (12:31)
• Why dollars and percentages aren’t the same and example of how to view this. (14:02)
• How to apply the rule of 5 about bear markets to investing. (15:45)
• The rule of 10 tells us to have 10x our salary saved by the age of 67 but is this appropriate? (17:06)

 

MORE INFORMATION:  https://www.flemingfinancialservices.com/podcast