In the previous lesson, I showed you a quick and dirty method for estimating the lump sum you would need in order to finance a comfortable retirement. The method we used was to determine the purchase price of an immediate fixed annuity that would provide you with the periodic payments you desire. The problem with Read more »
Lesson 4 – How Much Do You Need to Retire?
There are several factors that will determine how much in investable assets you need to be able to live off of them for life. Fancy software exists to help you with these calculations. All you need to know for planning software to work is how much you’re going to earn each year for the rest Read more »
Lesson 3 – How Much Do You Spend?
Determining your spending needs is darn near impossible because all of us “need” very little to survive. For millennia, the average person in the world lived on the equivalent of one dollar a day. Only during the industrial revolution did standards of living start rising significantly above that, and only in some countries. Even today, Read more »
Lesson 2 – Financial Independence
For many people, financial planning is synonymous with retirement planning. In my view, however, retirement itself is not necessarily a worthy goal. First and foremost, you should find work you love and not be engaged in activities that mainly inspire you to daydream about when you won’t have to be doing them. We’ll talk more Read more »
Lesson 1 – The End
Since I hope this free course will help you achieve your personal financial goals, we first have to determine what those goals are. I don’t believe in long laundry lists of specific goals: your list should be very short and each goal very important. In fact, you can do just fine with one goal: financial Read more »