👋 Hey there and welcome to the WalletBurst newsletter for the month of November 2023.
- 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%!
Surest path to wealth creation tweet by Kevin Dahlstrom on X.
- “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.”
- 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.
New on WalletBurst.com
Nothing new this month…
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Have a great day,