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The rule of 4% has been proven to be reliable through a wide range of tumultuous markets including the great depression, World War II, and the high inflation in the 1970s. It can be a good place to start, to see how well positioned you are for retirement.
A Roth 401(k) may be a better option if you are currently in a low tax bracket and expect to be in a higher bracket in retirement.
The Fed hopes to cool down the economy and decrease inflation by influencing rates on mortgages, credit cards, car loans, and business loans to decrease demand and slow down the flow of money.
Successful people have an internal locus of control, which means they take personal responsibility for their success and take control of their lives.
Becoming and staying wealthy requires the right mindset and the willingness to devote time and energy to manage your finances.
A major risk to aging investors is the loss of cognitive ability which directly impacts the ability to make rational financial decisions. We are living longer and as we age the likelihood of cognitive impairment significantly increases.