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13 episodes with trinity study
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4 episodes with trinity study
2 episodes with trinity study
2 episodes with trinity study
You may have heard that your retirement portfolio should be 25 times your spending or your income for you to retire. This is actually derived from The 4% Rule, which is the commonly held belief that you an safely withdrawal 4% from your retirement portfolio invested in stock and bonds and not run out of money before you die. In this episode, I look at the original published research where the 4% rule originated, which has been nicknamed the Trinity Study. I also talk about the paper published by William Bengen, who inspire the authors of the Trinity Study. The key take home points are:1. If you withdrawal 4% of your retirement portfolio in your first year of retirement, and then withdraw that amount adjusted for inflation in each subsequent year, then there is a 95% chance your portfolio will last at least 30 years. This assumes a portfolio that is invested at least 50% in an S&P 500 Index fund with the rest invested in long-term high-grade corporate bonds. 2. Have at least 50% of your stock and bond portfolio invested in stocks. A portfolio of 75% stocks and 25% bonds results in more upside with no significant downside compared to investing 50% stocks and 50% bonds. A portfolio of 100% stocks does have the possibility of significant downsides compared to a 75/25 stock/bond portfolio. The original papers:Cooley, Phillip L., Carl M. Hubbard, and Daniel T. Walz. (1998). "Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable." AAII Journal, 20(1), 10-14.https://www.aaii.com/journal/199802/feature.pdf Bengen, William P. (1994). "Determining Withdrawal Rates Using Historical Data." Journal of Financial Planning, 7(4), 17-26. Please subscribe and leave a review on your favorite Podcasting platform. If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook You can learn more about Elisa at her website or follow her on social media.Website: https://ww.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/ElisaChiang Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast is for informational and entertainment only and should not be considered professional investment, legal, or tax advice. Dr Elisa Chiang is not a certified financial planner, attorney, or accountant. The views expressed are the personal opinion of Elisa Chiang and her guests and should not be taken as advice specific to you, the listener of the podcast. Personal finance is personal and your personal financial decision need to be made based on your personal financial situation and risk tolerance after having completed your own due diligence.
We received this piece entitled “Millennials want to retire by 60. Good luck with that.” from Michael, a listener of this podcast who wanted to know our thoughts. This piece, published in USA Today, reflects the click-bait content that is out there to scare people while not providing guidance on how to make changes. In this episode, Michelle and I go through this piece and point out the flaws in the article. We also talk about how to think about whether we can retire or not using well-studied research like the Trinity Study and data about our individual spending and saving patterns. We target this piece, not because it is unique, but because so much information is out there that is meant to inflame without benefitting the reader. Have you seen a piece, TikTok, Youtube video, Instagram post, etc. that has done this? Post in the comments below so we can all evaluate it together. Show Notes:USA TODAY: Millennials want to retire by 60. Good luck with that.The Trinity Study on Withdrawal Rates: Retirement Savings: Choosing a Withdrawal Rate That Is SustainableOur episode about the 4% rule for calculating your retirement numberThe Shockingly Simple Math Behind Early Retirement by Mr. Money Mustache includes a savings rate chart.Community TimeAirHelp: Partner For This EpisodeCheck out our partner for this episode, AirHelp. AirHelp is a part of the Association of Passenger Rights Advocates (APRA) whose mission is to promote and protect passengers' rights. Click this link if you've had a cancelled or delayed flight as well as support our podcast: AirHelp Affiliate LinkFind more show notes and interact with the Build A Wealthy Spirit community at buildawealthyspirit.com!
In this week's episode, Patrick Donley (@JPatrickDonley) sits down with Steve Adcock to learn about how he quit his job at 35 after achieving financial independence to pursue a life of adventure. You'll also learn about the primary habits of millionaires, what kind of investment strategy he recommends, how he handled a $200,000 drop in his portfolio during the pandemic, what his lifestyle is like now in “retirement”, and much more! Steve Adcock runs Millionaire Habits, a resource dedicated to making you smarter about money. Every week, he publishes content designed to help you take full control over your life and achieve everything you've ever dreamed of. Steve travelled 3 years in an Airstream and now lives off the grid in the Arizona desert. He's been featured in publications like CNBC, Forbes, Business Insider, and MarketWatch. IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro 02:32 - What were some of the early money mistakes Steve made. 06:04 - What the impetus was for writing Millionaire Habits. 08:09 - What is the Trinity Study and why it's important to understand the 4% rule. 11:50 - What kind of investment strategy Steve recommends. 14:19 - How the traditional indicators of success can become a trap. 17:31 - Why Steve and his wife decided to sell everything to live in an Airstream full-time. 23:19 - What it was like moving off-the-grid. 26:03 - How much Steve had saved before leaving his W-2 job. 35:19 - What the advantages to marrying later in life are and why picking the right partner is so important. 41:33 - How Steve handled a $200,000 drop in his portfolio during the pandemic. 45:10 - How Steve and his wife handle health insurance. 52:19 - What books influenced Steve in his own quest for financial independence. 55:58 - What Steve's thoughts are on buying vs. renting. 58:03 - Why early retirement can be associated with an early death. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out: The Millionaire Next Door by Dr. Thomas Stanley. Check out: The Psychology of Money by Morgan Housel. Visit: Millionaires Habits by Steve Adcock. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Toyota DeleteMe Fundrise Linkedin Marketing Solutions NerdWallet TurboTax NetSuite Connect with Patrick: Twitter Connect with Steve: Website | Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices
Listen as Tim & Tyler discuss the most common question their clients ask, how much should I take out each year in retirement? Explore the merits of the 4% Rule, the Trinity Study & sequence of returns risk while smiling along with Tim & Tyler.
Listen as Tim & Tyler discuss the most common question their clients ask, how much should I take out each year in retirement? Explore the merits of the 4% Rule, the Trinity Study & sequence of returns risk while smiling along with Tim & Tyler.
Pastor Steve Cooley, Simply Trinity Study (Part 5)
SHOW NOTES: - All the info you need to START is on our website! Seriously, go there. - Join our PATREON community for bonus perks! - Get your TBR merch - Show credits FROM TODAY'S PODCAST: - Mark 8:33 - Trinity Study! SOCIALS: The Bible Recap: Instagram | Facebook | Twitter D-Group: Instagram | Facebook | Twitter TLC: Instagram | Facebook | Twitter D-GROUP: The Bible Recap is brought to you by D-Group - an international network of discipleship and accountability groups that meet weekly in homes and churches: Find or start one near you today!
SHOW NOTES: - All the info you need to START is on our website! Seriously, go there. - Join our PATREON community for bonus perks! - Get your TBR merch - Show credits FROM TODAY'S PODCAST: - Mark 8:33 - Trinity Study! SOCIALS: The Bible Recap: Instagram | Facebook | Twitter D-Group: Instagram | Facebook | Twitter TLC: Instagram | Facebook | Twitter D-GROUP: The Bible Recap is brought to you by D-Group - an international network of discipleship and accountability groups that meet weekly in homes and churches: Find or start one near you today!
Intro Edward Chancellor Devil Take the Hindmost (https://www.edwardchancellor.com/) Mercea Popeski's best quotes (https://twitter.com/pete_rizzo_/status/1409128764903206912) courtesy of Pete Rizzo And his "former lover's" blog (https://t.co/KIflJGCVYb) News Swan aquires the company (https://archive.ph/vKD8k) behind Specter wallet (https://archive.ph/M2MWL) Tornado Cash Developer Alexey Pertsev still being held 7 weeks without charge (https://www.theblock.co/post/174016/arrested-tornado-cash-developer-alexey-pertsev-appeal-rejected) and Dutch authorities are selling his car? When Taproot? (https://whentaproot.org/) tracks taproot integration in projects and provides education to developers, bitcoin upgrades can take time to become widespread (https://buybitcoinworldwide.com/stats/segwit-adoption/) Economics A modern look at the Trinity Study (https://web.archive.org/web/20110806210437/http://www.aaii.com/journal/article/retirement-savings-choosing-a-withdrawal-rate-that-is-sustainable?utm_source=sitesearch&utm_medium=click) and what it says about human's search for monetary stability (https://web.archive.org/web/20110708072619/http://wpfau.blogspot.com/2010/10/trinity-study-retirement-withdrawal.html) The Trinity Study tried to debunk a 10% withdrawl rate, not support a 4% rate The Blues and the Greens (https://www.lesswrong.com/posts/6hfGNLf4Hg5DXqJCF/a-fable-of-science-and-politics), one of Paul's favorite allegories Some detail and texture of the early 20th century gold standard (https://m.youtube.com/watch?v=_Gqn4WWvvNM) The Apple Card is worse than subprime (https://www.cnbc.com/2022/09/12/goldmans-gs-apple-card-business-has-a-surprising-subprime-problem.html), turns out making phones doesn't make you a good CC issuer? A primer on bond investing (https://www.lynalden.com/bond-investing/) from Lyn Alden as a way to think about the Privacy ErgoBTC contributes to privacy guru Michael Bazzell's pro-privacy magazine (https://www.nobsbitcoin.com/unredacted-4/) Speaking of Michael Bazzell, his guide on a DIY credit freeze (https://inteltechniques.com/freeze.html) is a must do for all people in the USA Software Updates Fountain podcast app now supports a queue (https://archive.ph/KbiNt) and carplay - Chris seemed to think that was important Bitcoin Education Lopp on encrypted cloud backups (https://blog.lopp.net/how-to-securely-back-up-data-to-cloud-storage/) ZeroSync - an instant blockchain syncronization proof (https://github.com/lucidLuckylee/zerosync/tree/main/docs) might allow nodes to instantly sync to the bitcoin mainchain Uses bitcoin's assumeValid (https://bitcoincore.org/en/2017/03/08/release-0.14.0/#assumed-valid-blocks) flag and implements utreexo (https://dci.mit.edu/utreexo) In Bitcoin Optech #219 (https://bitcoinops.org/en/newsletters/2022/09/28/) Anthony Towns describes a bitcoin fork for testing soft fork proposals on Signet, useful for Drivechains? Paul discusses alternative drivechain activation methods (https://bitcoinops.org/en/newsletters/2022/09/21/) Feedback Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started) Boosts Lopp's bitcoin resources (https://www.lopp.net/bitcoin-information.html) for learning about all aspects of bitcoin Paul's drive chain (https://www.drivechain.info/) resources Run a drive chain here (https://www.drivechain.info/releases/index.html) Corrections None today! Value for Value Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/) Recomended Podcasting2.0 apps: Fountain (https://www.fountain.fm/) podcast app (Android) Podverse (https://podverse.fm/) (Cross platform and self hostable) Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple)+ Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/) Sponsors and Acknowledgements The Adopting Bitcoin Conference (https://adoptingbitcoin.org/2022/) Novem ber 15, 16 & 17, 2022 in El Salvador, use promo code BITCOINDAD for a 21% di scount Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
Financieel vrij ben je makkelijker dan je denkt. Je geld kan nooit meer op. Je vrienden hebben het ook nog over de Trinity Study, aka de Safe Withdrawal Rate (SWR), aka de 4% regel, aka Hoeveel geld heb je nodig om van te kunnen leven. Spoiler: 25x wat je uitgeeft per jaar, en je kunt dat zo goed als onbeperkt blijven opnemen, behalve als de inflatie blijvend hoog is (ca 8% jaarlijks). Nou goed luister maar, want het gaat snel. Vergeet je liefde niet te doneren en je vragen te sturen aan info@geldvrienden.nl Links Artikel Nothingness of Money Trinity Study Trinity Study updated Skere Student artikel over het busje ombouwen Artikel over Bob, de slechtste market timer ooit Video over diezelfde Bob Check ons uit op Podimo Deel je liefde door (geld)vriend van de show te worden
Our guest on the podcast today is author and blogger JL Collins. He blogs about financial and other matters at JLCollinsnh.com. Collins' first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life was published in 2016 and has been an international best-seller. His latest book is How I Lost Money in Real Estate Before It Was Fashionable. That one came out in 2021.BackgroundBioJLCollinsnh.com The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free LifeHow I Lost Money in Real Estate Before It Was Fashionable: A Cautionary TaleInvesting"Stocks--Part XV: Target Retirement Funds, the Simplest Path to Wealth of All," by JL Collins, jlcollinsnh.com, Dec. 18, 2012.“Stocks—Part XIII: The 4% Rule, Withdrawal Rates and How Much Can I Spend Anyway?" by JL Collins, jlcollinsnh.com, Dec. 7, 2012."The Alfred Hitchcock Path to FI," by JL Collins, jlcollinsnh.com, May 5, 2021."The Trinity Study and Portfolio Success Rates," by Wade Pfau, Forbes, Jan. 16, 2018."Stocks—Part XXVII: Why I Don't Like Dollar Cost Averaging," by JL Collins, jlcollinsnh.com, Nov. 12, 2014.Real Estate"Truly Passive Real Estate Investing," by JL Collins, jlcollinsnh.com, Nov. 28, 2018."Why Your House Is a Terrible Investment," by JL Collins, jlcollinsnh.com, May 29, 2013.OtherThe Psychology of Money, by Morgan Housel Why Does the Stock Market Go Up? Everything You Should Have Been Taught About Investing in School, But Weren't, by Brian FeroldiQuit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, by Kristy Shen and Bryce LeungRich & Regular blogCashing Out: Win the Wealth Game by Walking Away, by Julien and KierstenTaking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan GrumetEarn & Invest podcast
Can full-time physicians invest in real estate? You may think high-income earners don't have the luxury of time to invest in real estate deals, but Sam Giordano discovered a process that makes it possible. By discovering how real estate syndications work, Sam was able to invest in real estate and share his experience with his colleagues. He is now educating both medical cohorts and residents to start investing passively in various properties, allowing them to make the choice of going on with their day jobs or retiring comfortably at a relatively young age. [00:01 - 03:10] Opening Segment Samuel Giordano is a full-time physician Here's how he learned real estate The importance of real estate syndications for high-income earners like him [03:11 - 13:29] The True Meaning of Financial Independence Sam shared the story when he realized he needed another income stream How PassiveAdvantage.com was born according to Sam Sam breaks down what financial independence means for him [13:30 - 21:53] How to Handle Debts The Right Way Sam prioritizes teaching resident physicians about debt He shares the reason here Physicians are often misinformed about debt and Sam wants to correct it Listen to his explanation Sam offers an interesting thought about mortgage payments you don't want to miss [21:54 - 24:56] Closing Segment A tool or resource you can't live without passiveadvantage.com A real estate mistake you want our listeners to avoid Consolidating student loans abruptly and without any plans Your way to make the world a better place Educating both physicians and passive investors Reach out to Samuel See links below Final words Tweetable Quotes “When you combine the syndication investing with the traditional investing, it's just so powerful at how quickly you can [achieve financial independence].” - Samuel Giordano “I think it's important to take your education very seriously. Focus on it, spend the appropriate time, and then be detailed at what you do with that.” - Samuel Giordano “The ability to be a detailed person in terms of what I need to do to educate myself has allowed me to get where I am...” - Samuel Giordano ----------------------------------------------------------------------------- Email samuel_giordano@hotmail.com or sam@passiveadvantage.com to connect with Samuel or follow him on LinkedIn. Is real estate syndication too complex for you? Learn how to simplify it by visiting Passive Advantage. Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: Samuel Giordano 00:00 The ability to be a detailed person in terms of what I need to do to educate myself has allowed me to get where I am everywhere in terms of everything. Whether it's in my medical profession and my real estate investing world, I think it's important to take your education very seriously focus on it, spend the appropriate time, and then be detailed that what you do with that. And that's probably something that personally I don't I'm not sure if that's sort of allowed in terms of the way the answer, but personally, it's most important to me from that standpoint. Intro 00:29 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we will teach you how to scale your real estate investing business into something big. Sam Wilson 00:41 Samuel Giordano was a physician based out of New Jersey. Sam, welcome to the show. Samuel Giordano 00:46 Thanks for having me, Sam. I appreciate it. This is the first time I've ever had an interview with another Sam. So right away, we have something in common. So that's great. Thank you for having me. Sam Wilson 00:55 Absolutely. Man, this is fun. Thanks for coming on. I know it's early for you. It's certainly earlier even for me. And you know, that's maybe that's one of things we can talk about today is just kind of what it takes to get things done in the real estate space, especially when you're a full-time practicing physician. I know I've had a few others come on and it's, you know, 5 am for them, and they're just finishing up the shift. But you know, before we get into all that. The same three questions I ask every guest who comes on the show, in 90 seconds or less, can you tell us where did you start? Where are you now? And how did you get there? Samuel Giordano 01:21 Yeah, no, thanks for the opportunity. And thanks for having me on Sam. I'd really gotten a lot of valuable information from previous guests and I, hopefully, I can provide some of that myself and thanks for having me. Yeah, so my name is Sam Giordano as you said, I'm a practicing gastroenterologist in New Jersey, I've been practicing about 10 years now. And, you know, had gone through the traditional personal finance sort of continuums that one does, as a new newly graduating physician about 10 years ago, trying to pay off student loans, you know, contribute to my children's 529. And then once you get enough capital, then you maybe have the opportunity to max out your retirement accounts, and then invest in sort of taxable brokerage accounts. But up until that point, most of my investing had been through the equities or the stock market, sort of the traditional path. And then I would say about three or four years ago, I was sort of enlightened to some opportunities in real estate and how it can benefit high-income professionals from a tax standpoint. So I started to do some due diligence on the different methods, you know, whether it be investing through real estate, turnkey opportunities, active involvement in real estate, and I very quickly realized, you know, I didn't want to be getting the nighttime calls about you know, leaky faucets and broken toilets and things like that, just because I'm a full-time physician, my wife's a full-time physician. And so we were made aware of investing in real estate syndications, like I said, about four years ago, and it just opened up this sort of rabbit hole for me to where I'm trying to dove right in, spent the full year kind of investigating things. And now since then, I've now gone, I've now been in over 12 deals over the last four years. So it's been a part of my investment thesis now. And I tried to allocate a certain amount of my investable assets to it, and it's definitely made a difference in my life, and I think it could make a difference in others as well. Sam Wilson 03:11 Yeah, absolutely. And it's amazing. And this goes for, and I've said this on the show many times, but this goes for military professionals. This goes for high-income earners, and really across the board, but especially I see in those two groups a lack of financial education. In the physician space, you know, you get out and it's like, wow, these are really smart people. You guys are way smarter than I sucked at school. Oh, and it's like, oh, wait, there was never this, like just the basic knowledge on how to invest across, you know, non-traditional assets. It's like, wow, why is this so not taught in school? Samuel Giordano 03:45 You're absolutely right. It's a big issue. And I work at a hospital that has about 700 physicians, we train residents, we train fellows. So I, even prior to investing in syndications, I do some education with the fellows that I train, instead of doing my traditional gastroenterology lectures, they buy on-demand, they basically want me to do some of the personal finance stuff. So I try to make a difference in that. But you're right, there's definitely a lack of opportunities for them to learn personal finance. So we try to bring it in because it's not like it takes that much knowledge or information to make a huge difference from that standpoint. So we try to make a difference in that as well. But you're right. There's a lack of that, no doubt. Sam Wilson 04:25 Yeah. What was the scenario when you use the words enlightened and made aware? What was that scenario about four years ago when someone kind of brought this idea across your desk? Samuel Giordano 04:35 Yes, so you know, I really around 2017, when with the tax cuts and JOBS Act was enacted as somebody who lives in New Jersey, you know, I really got hit pretty hard as a two-position family with the tax implications when I couldn't deduct my state and local income taxes anymore. And so we had been sort of a traditional expectation of what our taxes would be on an annual basis and then that following year, I probably should have thought about some tax planning. But that following year, I was like holy cow, I can't believe we have this huge tax bill that we got to kind of write a check for. And even my wife and I are both W2 employees, and even though we're happy in our jobs, and we didn't want to really diversify out of that sort of W2 situation, I wanted to look for ways that I can sort of at least come up with a second sort of income stream that's more tax-advantaged. And that's when I started to come up on the real estate investing. And so a friend of mine had invested in real estate syndications and was trying to, you know, give me some information on the tax advantages. And even though you know, if you're not a real estate professional, you may not be able to offset your actual income, but you can definitely offset some of the cash flow from the syndications. And then there's sort of methods that you can do to sort of pass a pairing sort of effect that you can then invest in subsequent syndications when the syndication is concluding that year and try to offset some of the any of the capital gains and some of the depreciation recapture. So it just opened my eyes, I did it, I read as many books as I could, as many podcasts as I could, and then I got comfortable with finally investing. And then since then, you know, it's been great. So I think hearing about the opportunity to invest in the TAT in the real estate syndications. And then learning about the tax advantages was just like, I guess it opened a whole new world for me. Sam Wilson 06:23 That's absolutely fantastic. I love the, you know, the kind of on-ramp, if you will for you. I mean, it took an entire year, educating yourself and saying, and for those of you who are raising money, myself included, that's something we just need to keep in mind is that it takes time to educate our investors. I'm comfortable with this idea. I mean, I know it took my own family allowed, like, Okay, watch me watch me, watch me. Okay, cool. Yeah, what you're doing there, tell me about what you guys are doing on that front on PassiveAdvantage.com. Samuel Giordano 06:50 Yes. So basically, as I said, I work at a hospital that has over 700 physicians and I had, you know, being someone who's involved in the teaching of the personal finance and start, when I started to get into the real estate, it started to come up in more casual conversations in particular, over the last couple of years, like for the first couple years of my investing, I was kind of doing it just for myself. And then for the last couple years with the impact of COVID, on physician burnout, and more physicians kind of thinking about cutting down, either cutting out altogether and retiring or just cutting back to maybe a four day work week or a three day work week, real estate started to come up and more and more of the casual conversations I had with these physicians. And I would have, I would point them to certain podcasts or books that I liked, maybe some real estate forums, but it kept having the same conversation over and over with them. And then eventually, you know, I brought up sort of a tool that I've put together at the time for myself when a real estate syndication comes through my email, what I use to kind of look and see if there's any obvious red flag or risk points in the deal that if none of it, if it checks all the boxes the appropriate way, then I move on to a further deep dive into that deal. And so a number of people wanted to have access with that which I have no problem sharing. But the difficulty is, you know if I'm going to share it with other people, I wanted to make sure it was tidied up and you know, dot dot and I's and cross the T's. So then I partnered with my current partner who is sort of an Excel spreadsheet whiz and someone who vets deals for syndicators or pre-vets deals. And we sort of combined to form a deal syndication vetting sheet that allows you to kind of see some of the risk points and then that product then parlayed into a business that we have, which we call it with our website's name, passiveadvantage.com, where our focus is in is educating investors and helping people be aware of some of the things to look for and some of the risk points when looking at real estate syndications. Sam Wilson 08:47 That's really cool. So just so I understand a little bit more clearly, like you kind of have a secondary spreadsheet. I know for me when I invest as a passive investor, because I do that as well, obviously, yeah, there's just too many good opportunities. And I want to participate with my friends as well in those deals, but where you know, you have a secondary Excel sheet that you guys have created that then because I always get their Excel sheet because I want to see their underwriting. But then you'll go and plug it into your own proprietary Excel sheet and then kind of spit out a whole different set of numbers. Is that what I mean? Samuel Giordano 09:15 That's right, and the way that sheet is organized in that, it's basically it's organized for ease of use. So you input some of the data on one particular page, we call it the key metrics page, and then it sort of pre-populates into the rest of the sheet. So and then when we do look at specific deal metrics, a lot of it is drop-down based, so you don't have to go in and worry that a formula is not working or this isn't working. And then when a metric is outside of the range of normal, then it either highlights the cell red or green or yellow depending on what the desirability of that particular metric is, for example, like an exit cap or rank growth rate or something like that. It may then highlight that this should be something you may want to ask the sponsor about. So yeah, so we use the metrics that we get from the investment summary or any materials we get from the sponsor, and then input that into our sheet and kind of go from there. Sam Wilson 10:10 That's fantastic. What a heck of a resource for passive investors. That's really cool that you guys are sharing that with your group there. Talk to me about financial independence. I mean, I'm gonna make an argument here and see if you can support or, you know, what's the other word I'm looking for there? Anyway, find the holes, deny, yeah. I say, “Hey, man, this isn't right.” Because I also have a passive investor and a lot of deals. But it's not enough, especially on a cash flow basis to really offset my, you know, working my call this my working income, right? Sure, for me going out and actively doing deals. And I would say the same for you. Even with 12 investments, it's not going to really change or offset your income. So what does that look like for you, when you use that word, financial independence? Obviously, you know, a lot of these deals, you get a big payday upon disposition? You know, in the interim, it's not an independence game, per se, as a passive investor, am I wrong? Samuel Giordano 11:04 No, that's 100%, right. So when you look at financial independence, in the traditional sense, a lot of the personal finance blogs, look at what's called The Trinity Study, where they look at, you have to save X amount. And if you use sort of the 4% rule, meaning that you know, if your goal is to have, say, $100,000 in passive income, when you retire, you then have to save 25 times that to get to a 4% withdrawal rate. So then you would need to save 2.5 million to get to that point before you can retire on 100,000 annually, roughly, if you want to assume that that retirement will last a period of like 30 years based on that Trinity Study. So that's sort of the holy grail of how financial independence or retirement appropriateness is looked at in the personal finance world. So the advantage of incorporating the real estate syndication is that, instead of using that 4% rule, if you have, I mean, just assuming what sort of syndications on average is good from a cash flow standpoint, these days, when you take into consideration, both the cash flow and the disposition amount, say you conservatively do that as 8% so now you have maybe half of your investable assets in syndications that are garnering an average of 8% whereas you still do the traditional stuff where you can maybe assume that it's a 4% withdrawal rate if you want to take money out of the stock market. So then all of a sudden, that timeline to get to that 2.5 million, now, you could maybe when you do the combination approach get to that same place with 1.5 million, roughly. So it sort of truncates the timeframe to financial independence. And so if someone's goal is 10,000 a month passive income, then if we have a calculator within our sheet that sort of opens people's eyes to this ability to attain financial independence to where one example that we default to in that particular seed is that if somebody invested 100,000 annually, so you know, two depending on the, 50,000, minimum or 25, or you know whether it's two to four deals on an annual basis, and assuming reinvestment of any of the proceeds assuming an 8% return, assuming a 2% inflation rate, if you needed to reach that 120,000 a year or 10,000 a month of passive income through syndications only with that 100,000 A year investment, you could get there in seven to eight years. So instead of spending it and that's not even taking into consideration the stock market, so instead of spending your 25-year career on saving 2.5 million or you know something in that, or even 15 years, you can get there in seven, eight years on syndications alone, but you have to invest 100 grand a year, right. So to me, when you combine the syndication investing with the traditional investing, it's just so powerful at how quickly you can do that even if somebody doesn't want to retire, even if they want to cut down the four days a week, you may not need that full 10,000, you may only need 4,000 a month to sort of offset that one day or 5,000 a month or something like that. So yeah, I think that the cool thing about syndications is it really gets to sort of truncate down that process that it would take you to get there. Sam Wilson 14:14 Yeah, and that's a really valid point. And I love that two-prong approach. Yeah, because there I mean, the returns that we typically project and see in real estate syndications. I mean, I couldn't sell an 8% return to investors over the life of the deal if I tried I mean, cuz that's just, I want to invest in that. Like I don't want 8% I want 12 to 15 like that's, right need to be in order for me to put money in. So you know, and not just obviously accelerated even further, not that you're always gonna get that but that at least, you know, the types of opportunities we look at. So to even further your point, it's like eight percent's really low in a real estate deal. Samuel Giordano 14:47 And that's just being conservative, but you're right, you say a deal does perform like what we're looking at in the traditional IRR is lately like in that 12 to 14 or 14 to 16 then all of a sudden that seven years goes down to six years or five years. So you can be amazing. And you never you want to take conservative assumptions when you do these kinds of planning. But yeah, if things sort of continue as they were, then you can even truncate that even more. Sam Wilson 15:11 That's fantastic. I love that. When you talk to the people that are coming on when you, I think you said residents or people coming in, and they kind of give them because I know that you are asked to speak about financial topics, what are some of the things initially because you can't just fire host, people with hey, real estate IRR? Is all this stuff? Like? What are some of the more basic things you start with? Samuel Giordano 15:30 Yeah, so basically, the way that I sort of outline is it the physician world, like the big thing for physicians, in particular in training is like the student loan burden. So it used to be when I came out, it used to be $100,000, in student loans with a lot. But now unfortunately, in talking to a lot of residents and fellows, it's not uncommon for them to have 250 to 400,000 in student loans coming out, especially if it's like a two-physician couple. So this kind of burden is almost like a second mortgage payment. So when I teach personal finance to these residents and fellows, I always start with the debt piece. So I go over debt in more detail and what the plan is to attack the debt, you know, in terms of whether it's credit card debt, whether it's just student loan debt, whether it's other debt that they have, personal debt, and how to attack the debt piece first. And then I sort of go into the insurance metrics and you know, things you want to cover yourself from, insurance cover for catastrophe, whether it's life insurance, disability insurance, umbrella insurance at some point in time. So those are sort of the foundations of getting you got to get through that first. And then we sort of transition into what do I want to invest and I, even though I believe in real estate, I usually do start with, you know, equities investing and stock investing. And I would say the point of physicians about, I would say at least five to seven years out is when they would start to think about these alternatives that we're talking about. So it's not someone that is probably going to invest in this kind of thing right off the bat, they kind of have to get that foundation, build it up, have some disposable assets, then they can transition once that's all set in place to these more sort of alternative investments. Sam Wilson 17:12 How do you feel when talking about the debt piece? I don't know what student loans are, interest, you know, what they're charged on interest now, but it's got to be sub 3%? No? Samuel Giordano 17:23 For some of them, believe it or not, there's some that are still in that five to 6% range. So the tricky part is in the physician world, there's something called like Public Service, Loan Forgiveness, or PSLF is a federal program that allows you if you work in an underserved community, or you work for a 501(c), charitable organization, which a lot of hospitals are, for a period of 10 years in total, those full amount of loans can be forgiven if you're paying what's called an income-based repayment plan. So if you're paying a certain percentage based on what your income is, then that can be forgiven. So in someone like me, for example, if I'm a gastroenterologist that requires four years of med school, three years of residency in Internal Medicine, assuming the four years of college, then four years of med school, three years of residency, three years of fellowship, so we're, just the medical training is 10 years, if you start that public service, loan forgiveness, or the Income-Based Repayment in the three of residency and the three of fellowship, you only need to work as an attending or a full-fledged physician for four more years to get those loans forgiven. So what people often don't know is if they consolidate those federal loans to a private loan, they disqualify themselves for being eligible for that. For some of these people, or they may have a 6% loan, but they consolidate into something lower, but they could and they're like, oh, great, I got a 3% loan now, but then they could have gotten forgiven if they worked three or four years. And they didn't even realize that. So there's a lot of misinformation out there. And we're, physicians don't aren't aware of all the implications, depending on the type of loans you have. Sam Wilson 18:58 Right. That's intriguing. And guess the follow-up question to that would be if inflation is you know what it is now at six 7%-ish? Yeah. Do you change any of that if someone has a 3% loan and say, hey, you know what, maybe we won't pay that debt down as fast? Or is it one of those things where you just find getting that out of the way is just helpful to do? Samuel Giordano 19:18 Yeah, so if they qualify for that Public Service, Loan Forgiveness, then I would still stick with the income based repayment plan and then you where you can maybe get it forgiven completely. Because say, you start with 300 grand and you're paying the income base, because the residents and fellows only make about 50 or 60 grand a year. So you know, maybe paying like 500 a month, then you may as well do that for the six years but you, net of what you're bringing down on that 300 grand, you may still owe 270 grand but when taken into consideration the interest rate. So if you can then forgive that over four years, it's still I think, a smart move to do that. But in someone who doesn't qualify for that PSLF and just has a fairly low-interest rate and they're just going to be paying it, then if you think you can manage that delta between the 3%, and what you can make on your investments, whether it's through equities or real estate, or whatever else it is, then yeah, I wouldn't rush into paying those off unless from a mentality standpoint, or there's some mental benefit to paying it off. But financially, if you can make that delta and the difference between the 3% of whatever you can make in investments, then there's no reason to pay that off any quicker. I agree with you. Sam Wilson 20:27 Right, yeah, that's interesting. It is. I mean, for me, personally, I don't have any debt on my primary residence. And it doesn't make financial sense, right? Like, rates are so low, but it's a nice little warm blanket that I put on him like, oh, I don't owe anybody anything for my house. So yeah, I don't like Yeah. And that's a personal decision more than it is a business one. But I just wondered how you coach people on that, you know, when they come in, like, Okay, here's my debt piece, because that's what you start with, you know, what that looks like. So thanks for breaking that down. Say, um, this has been a ton of fun. Thanks for taking the time to come on the show today. It's only got one more thing here you'd love to share with us before we jump to the Final Four. Samuel Giordano 21:01 Yes. So what I was saying is, you see a big a wide variety of people's views on that mortgage component, like what you said, it feels good just to be able to know like, I have a place to live, I'm not, I don't have to worry about mortgage payments. And the other thing, depending on the size of your mortgage, it can free up a good amount of cash flow, which then you can earmark for other things. And you don't have to worry about that. But then you get the opposite end of the spectrum where you hear and you know, a lot of people in the real estate community, not to say it's the wrong thing. But it's just interesting. The difference is where some people say, take out a home equity line and you know, on your house, if the where the interest rates are and then use the Home Equity Line to invest in syndications, which, you know, it's I'm not quite to the point where my home is paid off, but I definitely have some equity. And I've thought about it, but I'm not at the mental space where I can just take some of that money and you know, take it out of my house to put it in some syndication. So it's an interesting spectrum. Sam Wilson 21:54 It is. And there's again, it's more of a personal just comfort decision more than it is just a strictly numbers, dollars and cents decision. So yeah, resting was just curious what you had on that, say on the final question to this, what is one tool or resource you find you can't live without. Samuel Giordano 22:10 So I would say my tool in the passiveadvantage.com site is one that I couldn't live without, but I think separate from that, you know, I would say that the ability to be a detailed person in terms of what I need to do to educate myself has allowed me to get where I am everywhere in terms of everything, whether it's in my medical profession and my real estate investing world, I think it's important to take your education very seriously, focus on it, spend the appropriate time, and then be detailed at what you do with that. And that's probably something that personally I don't, I'm not sure if that's sort of allowed in terms of the way the answer but personally, it's most important to me from that standpoint. Sam Wilson 22:49 I love it. Question number two, what is one mistake you can help us avoid and how would you avoid it? Samuel Giordano 22:54 Yeah, so I think, you know, getting back to the student loans, I would say, if you are a physician, listen to this podcast there you have student loans, even if you're not a physician, look into the PSLF program and make sure that you're not consolidating your loans before two that would disqualify you from starting with that. Because if you can wipe off three 400,000 in loans, it's a big mistake I've seen a couple of fellows make before I've had the ability to educate them. It's something worth looking into if you have a lot of student loans, and you may be working for a nonprofit down the road. Sam Wilson 23:26 Right, man, that's fantastic. Question number three, when it comes to investing in the world, what's one thing you're doing right now to make the world a better place? Samuel Giordano 23:33 You know, I think the biggest thing and it comes back to the point one is educating, I think I'm a big believer in like, we get what we give, and whether it's through charitable donations, which my wife and I do through our donor-advised fund, or whether it's through educating others. I think it's my passion to help people whether it's, you know, some of our fellows and residents that we do on a personal level in the personal finance space are just helping guide them and their life decisions, or whether it's helping other passive investors invest in real estate syndications, maybe alert them to some common risk points or deal points. I think giving back to education is one of the biggest things that I try to impart as a way to help. Sam Wilson 24:09 That's fantastic, Sam, if listeners want to get in touch with you or learn more about you, what is the best way to do that? Samuel Giordano 24:14 So you can reach me through our website at www.passiveadvantage.com or you can email me personally at Sam@passiveadvantage.com and I'm happy to help any way I can. Sam Wilson 24:25 Man, thanks for your time today. Appreciate you coming on the show. Samuel Giordano 24:29 Oh, it's my pleasure, Sam. Thanks so much for having me. It's been a great time. Sam Wilson 24:32 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners, as well as rank higher on those directories. So I appreciate you listening. Thanks so much and hope to catch you on the next episode.
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Stock Stories | Case Studies and Mental Models for Individual Investors
We did it....and I want to help you do it too.Email or DM me:Instagram: @stockstoryteller | Twitter: @stckstryteller | Email: alex@stockstoriespodcast.com.The original Trinity StudyThe updated Trinity Study (by Wade Pfau)
As you know, we started this podcast to “Scale up our knowledge, so we don't scale up our systems”. Many of you requested to have another episode about finances, and I couldn't think of a better person to have on the show than my company's CFO, Mike Iverson. Mike is a CPA and owns Trillium Financial. I think Mike's superpower is his ability to take a very complex subject, such as ‘how much money I need to retire, and he can explain that to anyone in a language that they understand. He effortlessly gives people the tools and handles they need to be able to run their personal and business finances. The biggest gift Mike has given me over the years is the gift of clarity. He can look at spreadsheets and glean so much wisdom from the numbers, and then he teaches me what he sees. Because of his knowledge and expertise, I can make wise business moves. Today he is going to touch on so many topics that will help all of us scale up our knowledge, but all of them have one thing in common: finance. Bottom line: If you make money and want to know the best things you can do for your future with your money, Mike Iverson has the perfect financial plan for you. Your roadside friend, as you travel from client to client. -Trace Timestamps: Introducing my company's CFO, Mike Iverson [8:23] What is your outlook for post-pandemic? [15:01] What do people need to know about retirement? [18:10] The perfect retirement formula [28:07] How do you save for retirement? [33:02] The importance of a “financial checkup” [36:35] Changing your thinking from ‘budget restrictions' to ‘achieving your passions' [40:35] Lightning round questions [42:04] James' Challenge: Find and share parts per million (ppm) analogies (e.g., 1 minute in 2 years) [56:47] Quotes: “Always think: how can I set aside money for my future.” -Mike Iverson “I learned that successful people didn't need to know everything, they needed to know someone who knew more about the topics that they were facing.” - Trace Blackmore “Life is too hard to do alone, that's why I started The Rising Tide Mastermind, so you don't have to suffer making mistakes doing everything yourself.” - Trace Blackmore “We've got quite the journey ahead.” -Mike Iverson “When it comes to finances, it's 80% behavior and 20% math.” -Mike Iverson “I geek out on personal finance.” -Mike Iverson “I encourage all my business owners to invest long-term using compound interest.” -Mike Iverson “Compound interest: There are those who understand it, and those who pay it.” - Albert Einstein “Stay with it. Stay in it. And you will see your investments grow.” -Mike Iverson “Start investing. Take some action.” -Mike Iverson “There's no time like the present. It is never too late to start investing.” -Mike Iverson “I have an insatiable desire to learn.” -Mike Iverson Connect with Mike: Phone: 404-353-2148 e-mail mike@trilliumfinancial.com website www.trilliumfinancial.com Links Mentioned: Marty Stephens' episode 205 Mike Iverson's episode 11 The Trinity Study The Rising Tide Mastermind Submit a Show Idea John Lee Dumas' “Entrepenuers on Fire” Podcast Events: AWT Annual Convention September 21 through 25 StormCon (in person WI) September 13 through 15 Business Webinar with Michael Warady - @11am October 29 The Hang Networking Event- @6pm November 11 Books Mentioned: Procrastinate on Purpose by Rory Vaden Simple Path To Wealth by JL Collins Richest Man In Babylon by George Clason Money: Master The Game by Tony Robbins Total Money Makeover by Dave Ramsey Click on the image below to get 15% off of your Rocketbook order
I will go over the 4% Rule and how you can make sure it works 100% of the time at retirement. P.S. 2000 grand is a lot, I meant to say 200K in that last bit. “The 4% Rule” is from the Trinity Study if you wanted to research it more!
To avoid running out of money in retirement, you have to be realistic about how much you save and spend. And if you aren't realistic with your money, the entire plan could fall apart. Retirement is about knowing how much you need, not how much you make right now. And most people spend their entire lives building a plan around the wrong number. In this episode, I discuss how to build your retirement plan around income (instead of bad habits). Show Highlights Include: Retirement Planning lessons from the story of Atlantis (and how to avoid “the fall” of your own portfolio). (1:30) The Mountain Climber's guide to building a successful plan and reaching your retirement goals. (5:44) How to ensure your income for life through one mathematical equation. (10:02) Using the ‘Trinity Study's ‘golden number' to protect your portfolio from inflation and unstable environments (while improving your plan as you age). (15:55) The worst financial mistakes most Americans make in your retirement years (and how to prevent building bad habits right now). (20:57) To schedule your complimentary retirement track review, head to https://onecapitalmanagement.com. You can also call us at 805-410-5454 or text the word ‘TRACK' and we'll reach out to you.
Episode 11: What can 4% do for you? | The 4% rule On this show the guys discuss the 4% rule and what it means as it relates to your retirement planning. Websites mentioned on the podcast: From Fox Business: 5 Student Loan Refinancing mistakes to avoid Main Topic - 4% Rule Introduction to the 4% rule: So you have worked hard, saved a bunch of money for retirement. How can you figure out who much you can spend without spending down all your money? Obviously don't want to spend too little - you earned it after all You don't want to spend too much as you don't want to deplete it all. This where the 4 percent rule comes in….. What is the 4% rule and why is it important? The 4% rule is a rule of thumb for retirement spending. If you spend only 4% of what you have in investment accounts, annually, when you start out in retirement, you will likely never run out of money. Add up all of your investment accounts and withdraw 4% in your first year of retirement. You're able to adjust for inflation each year. This rule was created by someone by the name of William Bill Bengen. Made popular by the Trinity Study from 1998 Bengen wanted to know how much you could safely withdraw in retirement without ever running out of money. His final conclusion: you can safely withdraw 4% of your money in year one and increase by the rate of inflation every year. Assumptions under the 4% rule: It assumes you spend exactly 4% in year one and adjust for inflation in future years, so every year you spend more and more. If you overspend or underspend it can change the likelihood that you run out of money or never run out of money. Inflation found here: https://www.usinflationcalculator.com/inflation/current-inflation-rates/ It applies to a 50/50 portfolio. 50% bonds, 50% stocks. As you adjust your stock to bond ratio - it can adjust the likelihood that your money will last longer. Example Reverse engineering the 4% rule: Let's say you're not in retirement, but you want to use the 4% rule to figure out what your retirement number is. Let's say you expect you want to be able to Spend and Give $125,000 annually in retirement. You expect social security to provide $3,000 per month in retirement. How much do you need to save in investment accounts to be able to fund your retirement lifestyle? Annualize the social security and subtract it out of your annual spend. =36,000 per year is being provided by social security, so you will only need 89,000 annually. Take your 89,000 / .04 = 2,225,000 Now, how can you tell if you're on track to have 2,225,000? Use a compound interest calculator. Plug in your current investment account balance, annual contribution (plus 3% increase year over year), expected interest rate (we recommend 8.5%), and hit the calculate button. It will show you how much you're on track to have when you're looking to retire. We encourage you to play around with the compound interest calculator to see if you're on track!
Shawn DiMartile is a multifamily real estate investor, managing partner of an apartment investing firm, https://www.pac3capital.com/ (Pac 3 Capital,) and host of https://www.multifamilytakeoff.com/ (The Multifamily Takeoff Podcast), a podcast about all aspects of apartment investing. He came to the realization that the traditional path of working in a 9 to 5 as an aircraft controller, being and saving in a 401(k) until 65 was not the road to the wealth he wanted to follow. After reading books and listening to tons of podcasts about real estate and various asset classes, he came to realize that multifamily real estate has the power to build wealth and provide financial freedom. In 2019, while still working his full-time W-2 job as an air traffic controller, he partnered with two colleagues to acquire their first multifamily acquisition, a 32-unit in Indianapolis. KEY POINTS Selecting the right market to invest in. How to build credibility without any experience. How to raise money for your very first deal. Why a 401k isn't the right way to save for retirement. Good Debt vs. Bad Debt. Why habits are SO important. LIGHTNING QUESTIONS 1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Experience hurdle and overcome it by preempt and hammering at weaknesses. 2. Do you have a personal habit that contributes to your success? Writing a blog or article, reading and learning more every day to get better in his business. 3. Do you have an online resource that you find valuable? https://www.biggerpockets.com/ (BiggerPockets) https://joefairless.com/ (Joe Fairless) 4. What book would you recommend to the listeners and why? https://www.amazon.com/Pitch-Anything-Innovative-Presenting-Persuading-ebook/dp/B004H4XL7E (Pitch Anything) book by Oren Klaff 5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be? Go buy a real estate asset right now. RESOURCES Visithttp://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 ( Audible) for a free trial and free audiobook download! https://www.forbes.com/sites/wadepfau/2018/01/16/the-trinity-study-and-portfolio-success-rates-updated-to-2018/ (The Trinity Study) https://www.pac3capital.com/ (Pac 3 Capital) https://www.multifamilytakeoff.com/ (The Multifamily Takeoff Podcast) https://www.linkedin.com/in/shawn-dimartile-52a0211a5/ (Shawn's LinkedIn)
In this episode, Rich and Tony chat with finance YouTuber, Philippe Stemberger, about the FIRE movement. Topics covered are as followed: What is FIRE? Is it for everyone and/or who is it for? Do you have to be a high income earner? Where to invest and how to save? Resources to learn more Finance Tip of the week (how to lower your phone bill) Links mentioned in show: Philippe Stemberger's YouTube Channel: https://www.youtube.com/user/ThePiskou/featured Trinity Study: https://www.forbes.com/sites/wadepfau/2018/01/16/the-trinity-study-and-portfolio-success-rates-updated-to-2018/#7fb4fdf66860 https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ https://www.biggerpockets.com/store/set-for-life-paperback-ultimate https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926/ref=as_li_ss_tl?_encoding=UTF8&qid=1565368333&sr=8-3&linkCode=sl1&tag=biggerpocke0a-20&linkId=67d5f76d9a563b40456057f4bbdbf032&language=en_US https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1630762504/ref=as_li_ss_tl?_encoding=UTF8&qid=1565368265&sr=8-2&linkCode=sl1&tag=biggerpocke0a-20&linkId=b3c395c6a4f5cabb1f452fb1e91c7a62&language=en_US https://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0143115766/ref=as_li_ss_tl?keywords=Your+money+your+life&qid=1565365919&s=gateway&sr=8-2&linkCode=sl1&tag=biggerpocke0a-20&linkId=13eefdf661c0127b85a8448083bc373d&language=en_US https://www.choosefi.com https://affordanything.com https://www.mrmoneymustache.com https://www.biggerpockets.com/moneyshow
Financiële eindbazen die vervroegd met pensioen willen, gebruiken de Safe Withdrawal Rate (SWR). De wattes? Ja daar hebben wij het in deze aflevering over. Je geldvrienden praten over hoe je van je vermogen kan leven, zonder dat het opraakt. Er passeren veel afkortingen de revue, maar we proberen het simpel te houden. Want zo zijn je vrienden. Als het goed is weet jij nu ook hoe je van je vermogen kan gaan leven zonder dat je het slachtoffer wordt van het inflatiemonster. Shownotes William Bengen en de 4% regel Trinity Study (origineel) Trinity Study update Boekentip: 'Ons feilbare denken (Thinking, fast and slow) van Daniel Kahneman' Geldvriend in een dag sweatshop, meld je aan via jeroen@yesman.nu of thijs@koffiethijs.nl Disclaimer: Je bent zelf verantwoordelijk voor je eigen keuzes. De Geldvrienden proberen je alleen te helpen aan een betere mindset over geld. Dit is dus op geen enkele wijze op te vatten als advies. Mocht je gaan beleggen dan horen daar risico's bij en je draagt daar zelf verantwoordelijkheid voor, als een grote jongen of meid. Ook al doe je dat op basis van informatie van onze website en media. Wij zijn niet je adviseur. We doen dit uit pure passie.
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
As of October 2019, our Short Questions, Short Answers (SQSA) Series has come to an end. All 76 eBible.com questions and answers, most with audio and video, can be accessed from my website page here: http://www.tetzetorah.com/qa-with-ebible Once a week, Tetze Torah Ministries conducts Live Internet Studies various biblical topics and questions. The ongoing live Internet shows are then turned into short, info-graphic YouTube videos, longer, complete iTunes podcasts, as well as audio files on our website. We will also post links to the recordings in the Weekly Messianic Newsletter. Information about subscribing to my Weekly Messianic Newsletter: http://www.tetzetorah.com/newsletter Learn more about our Live Internet Studies: http://www.tetzetorah.com/live-internet-studies Tetze Torah Ministries is a collection of Torah-based, Yeshua-focused written, audio, and video bible teachings by Torah Teacher Ariel ben-Lyman HaNaviy
Hello! In today's episode Alvar will talk with the ‘Poor Swiss’ from the Poor Swiss blog, who recently has published an article in which he re-read the Trinity Study with a few twists in order to use it all the way up to 2018 instead of 1995. Also, he looked at if the four percent safe withdrawal rate is still holding up for 50 years instead of the 32 Trinity Study is using, as in general retirement can now last longer and it would be extremely nice if our money can keep up for this period as well. So sit back relax and enjoy the show!We also talk about:Inflation and interest ratesCurrency riskStock/bonds ratioJL Collins’s structuresTracking expensesStock markets
Today we have Kristy and Bryce on the show who are Canada's youngest retirees. Kristy retired at 31 while Bryce was 32, and today I pick their brains on how they pulled it off, how they invest, and how they structured their investment portfolio to ensure that they never run out of money. Kristy and Bryce also just launched a book on how they retired early, and in it they share a repeatable step-by-step plan on how anybody can retire early. It's a very practical book, I really enjoyed it, and wish it was around when I started my FIRE (financial independence, retire early) journey. Their book is called Quit like a Millionaire and I have some copies to give away to you as well. If you want to sign up for free to be entered into the giveaway, just click here and enter your name and email so I know how to reach you if you win. Questions Asked: Tell us your story and how were you able to retire in your early 30s? Tell us about your book. What's it about, who is it for, and how do we Canadians benefit from reading it? What analysis did you guys do to determine if you have enough to retire and won't run out of money? Let's talk about the Trinity Study/4% rule. First, for anybody that hasn't heard of it yet, can you explain what it is? What was your thought process around the 4% rule right before you quit your jobs to give you the courage to do so? (i.e. There are certain caveats, objections, etc. How did you deal with them mentally?) Now that you've been retired for several years, have your thoughts on the 4% rule changed in any way? I recall you guys writing about how you also use the FireCalc or FireSim calculators (which I'm also a big fan of). Can you explain to the listeners what those are and how you used them? These tools let you adjust certain variables. Are there any adjustments that you made that you think would be useful for Canadians to know about when they run their own calculations? (to get more realistic/accurate results) In your retirement, you use what you call “The Yield Shield” strategy. Can you explain what that is to everyone? I got the impression that a lot of the others in the FIRE community who have pulled off an early retirement don't focus on the yield the way that you guys do. The most common strategy seems to be to not focus on yield, and instead just withdraw 3.5-4% of their portfolio per year, by selling off investments when needed, as that's what the Trinity Study proved to be sustainable (If I'm not mistaken, I believe Jim Collins, MMM and Justin do it this way for example). What made you decide to create this Yield Shield strategy instead of just going for the simpler 3.5-4% withdraw rate and not worrying about the yield? To pull off the Yield Shield, you guys chose to invest in a few ETFs that aren't as commonly talked about in the FIRE community. I'd love to get your take on why you chose those specific ETF and their weights: Let's start with REITs. Why was your reasoning for adding these into your portfolio (5% weight)? What made you choose the ETF: XRE to get this coverage? What made you decide to add a Canadian Preferred Shares ETF into your portfolio (20% weight)? What made you choose the ETF: CPD to get this coverage? What about choosing corporate bonds (10% weight) with XCB? Lastly, what made you choose the Canadian Select Dividend (5% weight) with XDV? How did you change your portfolio from pre-retirement to retirement (if at all)? When did you start making that transition? (i.e. The day you retired, a year before, etc.) Let's say we had a 40% downturn, something like another 2008. What would you do in that situation? Would you still withdraw some of your principal because the 4% rule factors that in? (Your yield would also likely decrease in this scenario so how would you address that?) What changes would you make (if any) within your investments? Your blog Millennial Revolution is easily one of my favorite blogs. How is your book different than the blog, where can everyone go to pick it up, and where can we all learn more from you guys? Links and Resources Mentioned: Quit Like a Millionaire Book Link Book Giveaway Top ETF Guide for Canadians (sign up for free at buildwealthcanada.ca/eq and send any email from EQ to bonus@buildwealthcanada.ca) Michael Kitces and Mad Fientist Podcast Episode on 4% Rule Our Favourite Retirement Calculators: FireCalc FireSIM Yield Shield Article
Jimmy and Roya are joined by Travis Hornsby, founder of student loan planner, to discuss the best ways to pay off your debt and retire young.SOURCESScribe Tips: https://reviewob.com/scribes-in-the-exam-room-patient-experience-efficiency-enhancer/ Student Loan Planner, Travis Hornsby: https://www.studentloanplanner.comAverage Retirement Savings by Age: https://www.investopedia.com/articles/personal-finance/011216/average-retirement-savings-age-2016.aspEarly Retirement: http://money.com/money/3045776/early-retire-55-how-much-need/Early Retirement Calculator: https://millennialmoney.com/early-retirement-calculator/The Trinity Study: https://www.forbes.com/sites/wadepfau/2018/01/16/the-trinity-study-and-portfolio-success-rates-updated-to-2018/#6ccd72366860Reddit Financial Independence: https://www.reddit.com/r/financialindependence/Retire by 50 https://www.fool.com/retirement/2019/05/01/3-places-to-put-your-retirement-savings-if-you-don.aspx
Today we share another community member success story. Jeff, grew up extremely poor. It was not uncommon during his childhood for his family to worry about where they would be living, figuring out how to heat the house as well as meeting other essential needs. HUMBLE BEGINNINGS Jeff's parents, who were factory workers, never had expectations for Jeff to attend college, there was an assumption he would enter factory work as well after high school. However, it became clear very early to Jeff that the job was not for him. He was miserable. But he was also inquisitive and his search for information was the start of a journey that changed his family tree. Jeff saw another gentleman at the plant who had a better paying, more skilled position that didn't involve standing at a machine for seven hours a day. He inquired about how he could do that job and learned that the community college had certificate programs that partnered with his employer for an apprenticeship. Unfortunately for him, there were not any open positions. Jeff did not let that stop him. He went ahead and began the certificate program and waited for his opportunity for an apprenticeship to open. Because of his drive and dedication, it was not long before Jeff landed the job. After he completed his apprenticeship, he made more money and had opportunities for advancement. He has been working in the field as an industrial mechanic ever since. A LESSON IN INTEREST Jeff and his wife worked hard and eventually bought a home but at the time still knew very little about finances. After paying on his mortgage sometime, he looked at his balance and was extremely confused. There had to be a mistake. He knew he had paid much more than what was reflected as his balance. Interest was the culprit. Frustrated by his lack of knowledge he began to learn about interest and how it was calculated. While on a business trip, Jeff noticed a book at the airport. The title intrigued him, Life Without Debt. He dove into the book, reading it in four days. THE SPARK The experience with his mortgage combined with finding this book changed everything for Jeff and his family. They dedicated themselves to frugal living, living within their means, and emulating people who lived on very little. They purchased investment properties which enable them to purchase their forever home with a substantial down-payment. By living on less, saving more and increasing their income, Jeff and his wife are now "lean-FI." They have done so without every earning more than six-figures and with only one full-time income. For those new to the FIRE community, there are a few stages used to describe where one is with respect to FI (Financial Independence) - all of which are based upon the Trinity Study. You can read more about that HERE. At it's most basic - it simply means you have saved twenty-five times your expected annual expenses at retirement. Example: If you believed you could live on $40,000.00 a year at retirement, you would need $1,000,000.00 saved to be financially independent. 40,000 x 25 = 1,000,000 FINANCIAL INDEPENDENCE IS FOR EVERYONE We hope that you are encouraged today by Jeff's story. Our goal here is to educate others and show them that by making a few critical changes in your life with respect to your money, you CAN achieve Financial Independence. If you need help or are just beginning your journey, we offer a FREE 7-Step Money Challenge that will help you build a solid foundation as you begin your journey. JEFF ON THE FINAL QUESTIONS The one lesson about Jeff learned about money as a child that he has carried over into his FIRE journey is that money cannot make you happy, but a lack of it can sure make you miserable. The one lesson he would like to pass to his children is to begin early. Live like a broke college student for as long as you can, don't let life-style creep happen. FAVORITE READ Life Without Debt by Bob Hammond WHERE CAN YOU FIND JEFF If you have questions for Jeff, you can reach him at FIGUY9112gmail.com
Why hasn’t the FIRE movement taken off? And what's the point of Best Of Lists? [25:45] This week, Joey, Aaron, and special guest host Kelly talk about retiring early, time as a resource, healthy skepticism, total stock market funds, Beychella, and hispanic literature. They don't talk about Schrödinger's Yanni. Or is it Schrödinger's Laurel? referencesThe Financial Independence, Retire Early (FIRE) subreddit.We only scratched the surface of understanding the FIRE movement: the 1998 Trinity Study that kindled the craze, the 1994 Bengen article that inspired Trinity, and an essential primer on the 4% spending rule from VTSAX's own parent, Vanguard.Aaron's go-to budgeting tool, YNAB.A few best-of lists we like: the best innovations, the best photos, and the best of everything.
032 | In today's podcast we discuss the Milestones of FI with Joel from FI 180; this is a new look at the path to FI and the milestones along the way. In Today’s Podcast we cover: The ‘Milestones of FI’ with Joel from FI 180 We welcome Joel as our first repeat guest on Choose FI The Milestones of FI as a ‘master’s degree’ journey after Dave Ramsey’s baby steps Joel plans to be fully FI in January 2018 Joel is completely debt free and is shooting for $25,000 per year in other spending FI creates a “magic money making machine” that spits out yearly ‘checks’ (the 4% rule) FI is the ultimate luxury purchase to save for this ‘magic money making machine’ The Dave Ramsey Baby Steps explained To get started on the Milestones of FI: Debt Free and/or $1 of positive net worth First FI Milestone: $100,000 net worth when you first start getting calls from Personal Capital to setup a phone consultation 2nd FI Milestone: ‘FU Money’ set; 2-3 years of yearly expenses saved up 1st and 2nd milestone can be similar depending on your yearly spending The 3rd milestone is ‘Half FI’ which puts you halfway to FI in total spending, but actually more than that in terms of time on your FI path The path to FI is not linear and Joel explains Milestone #4 is ‘Lean FI’ which means you have enough money to stop working forever if you cut out the discretionary aspects of your budget (about 30% of Joel’s budget) Lean FI is an ‘emergency fund that would last forever’ as it covers your housing, food and other essentials Lean FI is perfect for people with a side hustle to do it with no risk The ‘crossover point’ could be another Milestone of FI. This is where your portfolio increase is more than the income you’re earning from your job The next milestone is ‘Flex FI’: This is a ‘5% rule’ or 20x your annual spending in your total net worth Flex FI is only viable for people who can build flexibility into their lives from year to year depending on the market returns, etc. FI is not one milestone but a smooth continuum towards this goal Flex FI has an 82% chance of success according to the Trinity Study (75% stocks, 25% bonds) Financial Independence is the 7th 25x your annual spending. All the work you do after you reach FI is completely optional. Now you can do what you want with your time. When you reach FI you can pick and choose what you want to do at work and in life The 8th milestone is ‘Fat FI’: This is 30x your annual spending which is the “closest thing to a sure thing” you can get in life Where is Brad in milestone continuum? Where is Jonathan? What does Alexis and Joel’s milestone celebration look like? Links from the show: The Milestones of FI at FI180.com Mad Fientist’s FI Laboratory cFireSim Early Retirement Now Fiery Millennials Personal Capital (affiliate link) Slowly Sipping Coffee
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