40-year
40-year-old Virgin (to financial stuff)? Here’s what to do
stay woke, salaryman
stay woke, salaryman
40-year
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The retirement fund we need, I see your formula that you multiply by 25. Why 25?
It’s based on the 4% rule, which is a rough guide to estimate how much you need for retirement based on a given expenditure. It assumes a very conservative investment return of 4%, which is not difficult to achieve. So you take your annual expenditure and multiply by 25. That amount invested means that 4% investment returns will cover your projected expenditure.
Hey, just wanted to say that this post really resonates with me! Love how you broke down the journey from being a 40-year-old virgin to stepping up in the financial game. The way you emphasized the importance of building a strong foundation with savings and budgeting is so crucial, especially for us Millennials and Gen Z who are often caught up in the hustle culture.
I especially appreciated your take on investing early and diversifying assets. It’s a game-changer, man! Makes me think about how many of us are still sleeping on our finances while trying to keep up appearances on social media.
So, given the journey you described, what do you think is a realistic first step for someone who’s just starting out in this whole financial game? Like, is it better to focus on paying off debts or building an emergency fund first?
I’m really curious because everyone has a different approach, and I wanna see what’s clicking with others. Plus, this could really help those who are feeling lost in their financial journey!