The Money Mustache Community
Around the Internet => Antimustachian Wall of Shame and Comedy => Topic started by: ender on August 17, 2020, 11:29:50 AM
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https://www.financialsamurai.com/proper-safe-withdrawal-rate/
This guy does such a major disservice to the FIRE community. Saying we need a 0.5% withdrawal rate?
I can't believe he actually writes this stuff lol.
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In his defense, 0.5% is without question a SWR with a heavy emphasis on the S!
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Just saw this, “just multiply your retirement spending by 200”
So save 50% of your income for 100 years, got it.
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I'm not reading it.
Assume this guy gets like 10 cents for every minute of your life you waste on his drivel. And he knows it. And that's why he does it.
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Pfffft ... a 0.5% SWR based on investing everything in 10-year treasuries is nothing. You should see the SWR you need when you follow my advice of investing everything in Beanie Babies.
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@ender , yes please remove the link to the blog - let's stop supporting this troll with our clicks! I think we can all agree that if you want to retire on $40k a year, you don't need $8 million. His assumption is you are a) only getting .5% on your nest egg and b) you want to preserve your nest egg and leave it entirely intact. Basic math shows I could live on $40k a year for 200 years (less taking inflation into account, but still) on an $8 million nest egg. Dude's a troll - his rhetoric is growing increasingly desperate as he tries to drive traffic to his blog. Ignore him and he'll eventually go away (yeah right).
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Yeah, I can't read any of his drivel anymore. He's made it plain that he's going for super-fat-FIRE, writes as if that's how others should do it, and runs his blog for maximum income. He's not relevant to 99% of the mustachian crowd.
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Just had my phone push this article to me via MarketWatch and, well, the clickbait worked. Atleast somewhat... I read about the article on Marketwatch instead of reading the article itself on his site.
Anyway, I then came to see what my Mustachian crowd was saying and I'm glad to see y'all did not disappoint. Stay strong !
Peace
Sent from my iPhone using Tapatalk
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7 Minute Abs at its worst. Get attention and clicks by saying ever more insane claims. 4% is so yesterday, 3.5% doesn't have a nice ring to it, 1% is too obviously a round number, 0.5% it is!
We all know that life comes with zero guarantees (well, except death). In the event of a nuclear holocaust centered on your house the 4% rules will clearly fail after all. Maybe 0.5% will save you from modest hyper-inflation, though so will having some foreign assets in your portfolio. Probably a probably a better hedge than 200x spending as a target.
Folks like this dunderhead and Suzi Orman set retirement targets so insanely high is that at some point such insane numbers become a disincentive. Nobody making a lofty quarter-mil a year after taxes is going to be living a 40k a year lifestyle for nearly two decades to retire early with $8M in the bank. Telling folks that is what they need to do just turns them off to any notion of ever wanting to find a way to retire early. The vast majority retire on little more than social security and whatever inheritance falls in their lap (and lottery tickets, never forget lottery tickets).
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Fuck this guy
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If you’ve followed FS long enough, you know he wrote this way with intention. Clickbait and to rile up. He’s always been an asshat.
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If you’ve followed FS long enough, you know he wrote this way with intention. Clickbait and to rile up. He’s always been an asshat.
He admitted recently in one of his posts/articles that one of his main focuses in life was squeezing every cent he could out of his site to fund his "FIRE" lifestyle which he also details to be ever-growing in size and expense.
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If you’ve followed FS long enough, you know he wrote this way with intention. Clickbait and to rile up. He’s always been an asshat.
He admitted recently in one of his posts/articles that one of his main focuses in life was squeezing every cent he could out of his site to fund his "FIRE" lifestyle which he also details to be ever-growing in size and expense.
Maybe he should rename the sit to Financial Sumo to be more honest.
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I used to subscribe just to see the crazy high end expectations and different perspective he has, but he's just given so much terrible advice it's not worth it anymore.
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"Do What I Say, don't say what I really do", or something like that.
People of such attitude... I have unlimited nasty words to describe. I'll just leave it at "Knob Gobbler".
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I know I'm conservative, and a worrier....but even I know that 0.5% is a ridiculous SWR. If I was planning a lean FIRE with little fluff in the budget, I would be very uncomfortable with a 4% withdrawal rate. But we have lots 'fluff', leaning towards a mid-range retirement (and fat by some folks standards on here)....I know that in down years we just don't travel, or put off replacing a car for a year or two....that's what let's me sleep at night