Here's Journal Club 10-07-22! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!
- Most of us are familiar with the 4% rule. It’s a rule of thumb for investors to withdraw 4% of their wealth annually from their accounts during retirement. It’s also considered a safe withdrawal rate. However, this concept is highly debated. For some, it’s too conservative, while others think it’s too generous. To offer some clarity, the Physician on FIRE sheds some light on the subject in the article – The Four Backstops to the Four Percent Rule.
- Have you heard about the “Universal Basic Income (UBI)?” Well, it’s a government-funded program that offers stipends to cover one’s basic needs. Using this concept as an example, the author of Retire Before Dad encourages us to create multiple streams of our own basic income to cover some or all of our living expenses eventually. The author talks more about it and shares helpful tips in the article – Personal Basic Income: How to Create a Perpetual Paycheck.
- At some point, we’ve all heard this saying, “time is money,” and vice versa. According to the author of Get Rich Slowly, the idea of time and money are quite different. Understanding the correlation between the two and applying each of these aspects in our lives can help create a sense of balance and harmony. The author elaborates on this idea further using examples in the article – The relationship between time, money, and happiness.
- It’s fairly common for us to reflect on the choices we have made in the past and wish to have done them differently. According to the Chief Mom Officer, dwelling on such thoughts may hold us back from realizing our full potential. Instead, the author motivates us to start where we are right now and shares beneficial tips to make it happen in the article – Eight Simple Concepts To Help Change Your Life.
That's all for this week! I hope this week's journal club was helpful.
Read any interesting articles? We'd love it if you could please take a moment to share them in the comments below!
Thank you for reading and sharing,
Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.