Can I retire on $300000? – Swing Trade Stocks And Forex With The Ichimoku Cloud By Udemy

What about $300 million?

I’m not talking about $30 million in total income from investments, all at once! I’m talking about $30 million in assets, mostly cash – just not in your checking or savings account.

If you want to make $30 million dollars in your lifetime, you probably need to have at least $300,000 in assets – which is easy to do once you can start getting paid for making money and start putting money away.
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The good news for you: you don’t need a $300,000 retirement account. It’s easy to get started. The bad news: there’s a catch.

The catch is that you need to get a $300,000 loan from your employer before retiring at age 65. That’s $15,000 to spend your way up to $300,000, plus interest. To use that $15,000 to get a $300,000 retirement account, you need to save $1,000 in your checking account. And that’s where the math gets a little tricky.

Let’s say you get that $15,000 loan and spend it like you’re planning to do – which would leave you with 10% interest at age 65. That’s $30,000 – with any savings and investing you might do in retirement – you’ll have about a $300,000 investment cushion. That’s less than the $300,000 you’ll need to start your retirement plan (say, $150,000), right?

The $150,000 that you save from your job, minus the interest, is enough to cover your average life expectancy until you’re about 65. But with your employer-funded savings, you’ll still need $1,200 to reach $300,000 – which means you need to start working out just $200 at the end of your life to get there.

A $300,000 retirement account only buys you so much. If your goal is more, you might want to consider getting this $200,000 loan for your life from your employer.

That might mean that you’ll need a $300,000 life insurance policy or a $300,000 RRSP instead, although those are not going to bring your net life total any closer to $300,000. (If you’re like me and live a busy life with a partner to support, you might be stuck using your private investments alone to cover these costs.)

The good news: you won

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Can I retire on $300000? – Swing Trade Stocks And Forex With The Ichimoku Cloud By Udemy
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