Episode 257 - The Impact of the Amount of Wealth on Financial Success
Beer & Money
English - July 08, 2024 12:42 - 19 minutes - 15 MB - ★★★★★ - 12 ratingsInvesting Business Management assets quantified beerandmoney debt finance finances financialplanning investments lifeinsurance money Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Ryan Burklo and Alex Collins discuss the five factors that impact financial success. They focus on the first factor, which is the amount of wealth. While many people believe that the size of their assets is the most important factor, the hosts argue that it is actually one of the smallest factors when it comes to the efficiency of assets. They provide an example to illustrate this point, showing that the rate of return and distribution method have a greater impact on income in retirement. The hosts emphasize the importance of considering all five factors and creating financial balance. If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net
Takeaways
The amount of wealth is just one of the five factors that impact financial success.
The rate of return and distribution method have a greater impact on income in retirement.
Creating financial balance is important, considering all five factors and finding appropriate amounts for each.
Legacy and the fear of running out of money are important considerations in retirement planning.
Chapters
00:00 Introduction and Beer Talk
03:01 The Impact of the Amount of Wealth
07:31 Rate of Return and Income in Retirement
10:48 Guaranteed Distribution in Retirement
13:55 The Importance of the Other Four Factors
16:03 Conclusion