https://www.youtube.com/watch?v=9OmuFsK59b8

cliffs
-co host says you need to take out 3% to be safe per year
-dave ramsey says it's BS and you can take out 8% forever
-boomer rage

realistically you need 2 million at least to retire and maybe not run out of money, which is what double of what dave says

thoughts?

8% is unrealistic, Dave Ramsey is a person built to appeal to emotion not logic. Some people need that but when you're running a spreadsheet have the logical person build it, not the emotional one.

Everything new I hear about this Ramsey guy points to him being a huge sack of human crap

NGL I do find that interesting srs.

I can see both sides. 3% withdrawal rate makes you feel super safe and secure, even during economic crisis'. 8% though lets you retire much sooner, keeping in mind a 12% growth 4% inflation, which may be historically accurate but isn't a guarantee.

In today's dollars, if you had a paid off house, a single person could survive off of $1.5k/mo or $18k/year. Call it $30k/yr if you wanna live it up a little and buy some gadgets here and there. If you have $1m extra then the $30k/yr (3% withdrawal rate) gets you what you need. If you have $375k extra instead, it sounds better to retire because 8% of that gets you the $30k and you're retiring $650k sooner, but all it takes is a decent number of years of economic decline, investing in terrible ideas, or emergencies in general, to phark it all up.

Kinda surprised TBH. Dave Ramsey is all about "financialPEACE". The most peaceful way to bypass hardships such as emergencies and economic declines is to have more than what's needed.

George is a cuck.

You should look at the math and simulations that went behind the 4% rule

If you withdraw at like 6%, you’ll have only like a 25% of not going broke. But in the 25% chance you don’t go broke, you’ll be rich as fuk at the end of the 30 years

That’s the dilemma. It’s the probability of going broke. And if you don’t go broke, you’ll have far more money than you’ll know what to do with

It sucks because in order to not go broke, your going to die with tons of money (which is a waste)

Basically the stock market sucks. It has a high average rate of return, but because of volatility you basically have to treat it like it returns way less, like a savings account

And Dave Ramsey is colossally ignorant on this topic and it’s shocking he has so many followers

Interesting. I save like 50% srs. 8% into 401k and Roth, and then like 40% into savings.

Ramsey’s business is doomed when he’s done, but he will be 6ft under so why would he care

His issue is he wants personalities who can draw listeners and an audience. However, to do that you need people who are legitimately charismatic and have their own ideas

But he doesn’t allow any deviation at all so his “personalities” are all dorks and dolts

best to save 10 million and just live off one month treasuries

Pay off your bills.

Save money.

There you go, just saved you a ton of time having to listen to him.