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

Nothing new this month…

End Note

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Have a great day,

Andrew ✌️