Can you please help me understand this equation 12 divided by .04 = 300? I am hoping to understand what financial gurus say that to know your retirement you take your monthly expenses x 300 because you can only take 4% of your retirement account to safely live off your retirement money. I cannot conceptualize dividing a number with a percentage.
Can you please help me understand this equation 12 divided by .04 = 300? I am hoping to understand what financial gurus say that to know your retirement you take your monthly expenses x 300 because you can only take 4% of your retirement account to safely live off your retirement money. I cannot conceptualize dividing a number with a percentage.
Chapter17: Retirement And Estate Planning
Section: Chapter Questions
Problem 1LTAI
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Can you please help me understand this equation 12 divided by .04 = 300? I am hoping to understand what financial gurus say that to know your retirement you take your monthly expenses x 300 because you can only take 4% of your retirement account to safely live off your retirement money. I cannot conceptualize dividing a number with a percentage.
Please answer fast i give you upvote.
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