More Rules of Thumb

Something More with Chris Boyd

More Rules of Thumb – Chris Boyd and Jeff Perry go back to a recent conversation of common financial rules of thumb. They start off by defining the term “net worth”. Chris reflects on the book “The Millionaire Next Door” and Jeff mentions a financial calculation that compares one’s net worth against their income. Next the duo explains the Rule of 72 and how it is helpful when doing quick calculations of when an investment is expected to double. The often- discussed term of Financial Freedom is deliberated in the context of a formula of

one’s annual expenses. Chris closes out the segment with an explanation of the 4% withdrawal rate for retirement assets with cautions of depending solely on rules of thumb. For more information or to reach Chris Boyd or Jeff Perry, click the below link:

https://www.wealthenhancement.com/s/advisor-teams/amr