Traditional financial planning would say you need to accumulate 20 times your current income, or $5 million in critical mass, to generate $250,000 of… - Tony Robbins
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Traditional financial planning would say you need to accumulate 20 times your current income, or $5 million in critical mass, to generate $250,000 of pretax income (assuming a 5% withdrawal rate). But if you aren’t required to pay tax, and the actual income you need is $125,000 without taxes, you really need to accumulate only 20 times $125,000, or a total critical mass of just $2.5 million within this structure. That means you get to your goal 50% faster or you get twice the spendable income if you reach your original goal of critical mass in the same time.
The law of familiarity says that if we are around anything (or anyone) long enough, we tend to take things just a little bit for granted.
by the way, you’ll never hear them referred to as “brokers.” They are called registered representatives, financial advisors, wealth advisors, vice president of this, that, or the other thing.
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