This morning we realized we’ve never shared the most important thing we’ve ever learned about money. I was 17 when I first heard about compound interest from Dave Ramsey and it’s the reason we care about personal finance today.
In the video we explain why it’s so important for young people to learn about the magic (and danger) of compound interest. Even 5 or 10 years can mean a difference of millions of dollars.
Please share this story with anyone who you think might need to hear it 🙂
Dave Ramsey Article: http://goo.gl/00EKYf
The question we get asked most often is ‘how do I get income from my retirement accounts into my checking account when I retire’? Most people understand the 4% rule, but few ask how investments pay the bills.
The reason is likely because phrases like withdrawal and drawdown strategy are not very sexy. Well, this isn’t going to be sexy. But it will be short and to the point.
The second most popular question is, ‘what about penalties if I retire before 59.5’? That will have to wait until next week!
When people ask “how much I need to retire comfortably”, most of the time they imagine traveling the world, staying in fancy hotels and golfing at the most luxurious resorts.
The question we’re asking is, are you willing to trade your freedom for that level of comfort?
Rather than save 1-5 million dollars for a “comfortable retirement” we are shooting for financial freedom. From there we can decide what truly makes us happy instead of trading the next 50 years for a a little luxury.