OVERVIEW:
Erik talks about what it takes to cover expenses for the days we no longer work for money over a 20 year period. He breaks down the numbers for basic expenses.
EPISODE HIGHLIGHTS:
- Are we or our parents set up financially to cover expenses that we will have in a 20 year retirement.
- Depending where someone lives, the expenses could be more for their rent and/or mortgage.
- Looking at the numbers $1,000,000 seems like a good amount of money but a 20 year retirement requires more than that.
- As a result many people are more fearful of running out of money compared to dying.
TWEETABLE QUOTES:
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“…Want to set up our own pensions, and if we want to do that, we have to look at a lot of factors…” –Erik Smith
- “Some people spend $912 in a meal…” –Erik Smith
- “$980/month for healthcare… this does not even include Long Term Care.” –Erik Smith
RESOURCES MENTIONED:
- Schedule a time to talk with Erik.
- Find Erik on Instagram, Facebook, LinkedIn and Twitter
- “Power Of Zero” by David McKnight
