Ep 52: Are These Financial Rules Legit?

We all hear various financial rules from time to time, but are they legit? Or are they full of it? Which of these are good rules of thumb and which are better to ignore? On today’s podcast we discuss seven financial rules to see what’s what and help you better plan for retirement.

 

Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-52-are-these-financial-rules-legit-or-full-of-bull/ 

 

Watch the video podcast: https://youtu.be/Sb6dpmV2r90 

 

What we discuss on this episode:

0:32 - Are these rules legit or full of it?

0:45 - Is the 10 percent rule legit?

1:37 - Is the 4 percent rule based on reality?

3:09 - What is the 25x rule?

4:50 - Do you only need 80 percent of your income in retirement?

5:43 - What’s the math behind the rule of 72?

6:48 - What does the rule of 2.67 mean?

9:06 - How does the rule of 100 relate to your age?