When you hit your financial independence number, it’s important to realize that how you generate your income is just as important as how much you withdraw each year.
Diversification is key. I would never recommend relying on one income stream. A balanced approach might look like using dividend-paying stocks while strategically selling equities.
A common mistake that can seriously hurt your wealth is panic selling when the market drops. It's important to stick to your investment plan.
Taxes play a big role in how long your $5 million lasts. Dividend income may be taxed at a higher rate than capital gains.
#retirement-planning #financial-independence #investment-strategies #diversification #tax-efficiency
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