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Warrior Trading // Ross Cameron // Day Trade Warrior

So the fast forward retirement 5 years from today. These are the steps that I would follow. starting with number one, keeping my burn rate as low as possible. And let me give you an example of what I mean by burn rate.

We're going to jump onto the Whiteboard here and let's assume for just a moment that you're spending $5,000 a month. That's your monthly burn rate. It's your cost of living. So what I want to do is I want to help you figure out if you're spending $5,000 a month, how much money would you need in the bank in a traditional sense in order to retire today? The way we figure this out is by using a formula.

It's called the rule of 4% and we find this number by multiplying your monthly burn rate by 300. So 3 * 5 is 15. So we've got $1.5 million.

By Stock Chat

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2 thoughts on “Accelerate retirement savings #personalfinance”
  1. Avataaar/Circle Created with python_avatars @nailcarter1523 says:

    I love this Ross

  2. Avataaar/Circle Created with python_avatars @smokingant says:

    Bur

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