Mar 18, 2024
More Rules of Thumb – Chris Boyd and Jeff Perry go back to a
recent
conversation of common financial rules of thumb. They start off by
defining the
term “net worth”. Chris reflects on the book “The Millionaire Next
Door” and Jeff
mentions a financial calculation that compares one’s net worth
against their
income. Next the duo explains the Rule of 72 and how it is helpful
when doing
quick calculations of when an investment is expected to double. The
often-
discussed term of Financial Freedom is deliberated in the context
of a formula of
one’s annual expenses. Chris closes out the segment with an
explanation of the 4%
withdrawal rate for retirement assets with cautions of depending
solely on rules of
thumb.
For more information or to reach Chris Boyd or Jeff Perry, click
the below link:
https://www.wealthenhancement.com/s/advisor-teams/amr