2 ms·
Based on the given info, here is the advice I have: 0. Debt is a killer. Pay yours off. 1. Live below your means 2. Look up the 4% rule - can you live happil
by aparsons 6y ago
Based on the given info, here is the advice I have:
0. Debt is a killer. Pay yours off.
1. Live below your means
2. Look up the 4% rule - can you live happily on 4% ($40k) per year? If not, you may need to save some more.
3. Implement a strategy to leverage the 4% rule. I usually try to avoid investment fees and invest directly in exchange traded funds. To learn more about ETF investing, read The Simple Path to Wealth.
4. Try to get a part-time, less stressful job. That way there is more room for error in your calculations. If you employ DRIP investing, your savings compound even effortlessly this way as you don’t withdraw as much.