Personal Finance Is All About Trade Offs

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Personal Finance Is All About Trade-Offs:
"There are no solutions. There are only trade offs." That’s a quote that’s been stuck in my head recently because I think there’s a lot of truth to it. Especially in the realm of personal finance.

Investors need to balance risk with reward. Budgeters need to balance their wants and needs with the reality of their income. And those seeking financial independence need to balance their goals against the weight of financial history.

Today we examine how those trade offs can open possibilities for you that may never have been considered before.

WANT TO LEARN MORE ABOUT MONEY?

#PersonalFinance #Wealth #Money

Disclaimers: All opinions are my own, sponsors are acknowledged. Links in the description are typically affiliate links that let you help support the channel at no extra cost to you.
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When you lead off a video with a Thomas Sowell quote you know it's going to be a good one

danieldeweerd
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I'm thrilled that you have posted another video.

brucestiles
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I like the idea of the 4% rule with a 100% total market index fund, but starting with a *three* years cash buffer of your projected cash need -- the amount of cash needed after Social Security and pensions. If the market craters, you don't do your annual liquidation from equity to cash until the market has recovered. You'd have at least two years for the market to recover. Perhaps the buffer should be four years, or liquidations done on a quarterly basis, if the market cooperates. Hmm.

brucestiles
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Would you do a video on The Money Guy's Financial Order of Operations (FOO)?

trippin
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This is intro to econ, lecture one. Everywhere you look, the name of the game is opportunity cost.

me
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Great video man! Do you need an additional whiteboard video editor for your channel? I can help with that.

animationsolutions-eq
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Love this realistic scenario of having "just" $500k in retirement accounts.

wildfoodietours
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