Ignore people who give financial advice based on magic numbers instead of math.What are those staring at retirement with less than 5M (Orman's magical number) upposed to do?
Make your own budget and figure out when you can retire based on that. The 4% rule is a very solid starting point. If you're retiring before you plan to start drawing social security, it is a bit more complex to figure out, but not onerously.
There was more to her statements than the headline suggests that I suppose is a partial saving grave for Orman, but my advice applies regardless of that. "Magic number" is a figure of speech related to your own budget. Nobody should be claiming a magic number of everyone.
I wish there was a decent way to legally penalize outlets like Yahoo Finance and Benzinga for misleading articles like this.
Statistics: Posted by iamlucky13 — Mon May 20, 2024 11:11 pm — Replies 13 — Views 872