Monthly Newsletter: November 2023

👋 Hey there and welcome to the WalletBurst newsletter for the month of November 2023.


🤔 How Safe is an 8% Withdrawal Rate? by Nick Maggiulli from OfDollarsAndData

  • Dave Ramsey went viral recently when he responded to a caller on his show by saying that an 8% withdrawal rate was safe to use for retirement planning. He went on to say that the 3-4% SWR that is typically used by the FIRE community was ridiculous.
  • Nick looked at all the 30-year periods from 1935 to 2022 and found that if you used an 8% withdrawal rate, the probability that you would run out of money after 30 years is 42%.
  • However if you used a 4% withdrawal rate, the probability that you would run out of money after 30 years is 0%!
Chart of years survived for 100% growth stock portfolio by start year using an 8% withdrawal rate

Surest path to wealth creation tweet by Kevin Dahlstrom on X.


📈 How to Become a Millionaire by Ben Carlson from a Wealth of Common Sense

  • “For most people, your best bet is making more money over time, saving a decent chunk of that income, investing wisely and getting out your own way.”
  • “Slow wealth is stickier because it doesn’t hit you all at once. You become accustomed to it in bits and pieces as opposed to experiencing a one-time jump that shocks the system. People appreciate slow wealth more than fast wealth.”

🎧 Coast FIRE Before 35 Years Old – Marriage Kids and Money (MKM) podcast

  • Two guests, Anders Skagersberg and Josh Miller, share how they reached Coast FIRE in their early to mid 30’s with normal careers.
  • They break down how they are using Coast FIRE to downshift their work lives, spend more time with family, and live a more stress-free life.

My monthly spending report

This month I spent about $2,800 total, living in the SF bay area. I spent less on travel and shopping this month than normal, but more on food. 

Get my Personal Budget Template for free here


New on WalletBurst.com

Nothing new this month…

End Note

Thanks for reading! If you’re enjoying my newsletter, I’d love it if you shared it with a friend or two. You can send them here to sign up.

And if you have any feedback on my site or come across any interesting personal finance content, send it my way to andrew@walletburst.com. I love to hear from my readers/users!

Have a great day,

Andrew ✌️

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