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"And that is why I am promoting my new book - Hookers, Blow and Viagra - And How to Get There."
Notice how the article fails to mention what the % in the rule should be.The article seems to give a range and some examples of what rates would be successful. Often, those rates are higher than 4%. Many retirement planning tools out there on the internet are similar in that they give a range of possible outcomes or likelihood of a "successful" outcome.
Or you are kidnapped by the local Antifa or BLM chapter and held for ransome? What if a CHAZ area springs up around your home or if the local government union decides a 20% property tax is more reasonable?
... or like Schwab did, just make up a charge and steal money from people's retirement accounts.
Misc says... or like Schwab did, just make up a charge and steal money from people's retirement accounts.
Got a link?
Yes, that is a biggie. In VA, and in other states, financial institutions must take action on accounts with one year dormant activity.
Always vote your proxy.
It’s been more than 25 years since Bill Bengen, a financial adviser in southern California, created the so-called “4% rule.”
That’s the principle that if you want to make sure your retirement savings last at least as long as you do, you should budget to spend no more than 4% of the balance in the first year—and then just adjust the amount each year in line with inflation.
Bengen called his rule “Safemax”—the maximum amount you could withdraw each year and still say “safe.”
Since his article appeared in the Journal of Financial Planning in 1994, the 4% rule has suffered the fate usually reserved for religious doctrines—alternately cited as revealed truth, such as here and here, denounced as heresy, or subject to various forms of reformation, such as here and here.
But still it has persisted, and spread, as a pretty useful rule of thumb. If you want to make sure you don’t outlive your savings, goes modern financial advice, budget on withdrawing no more than about 4% of your portfolio in your first year of retirement, and then only adjust upward in line with inflation.
Well, now comes news that Bengen—who has sold his financial planning practice, and moved to Arizona—has updated his numbers.
Not only is he no longer sticking to 4%, he says that that number was always treated too simplistically.
"I came up with this 4% idea to promote my financial planning business, and it worked. Now that i am in the 1%, I can level with people.", said Bengen.
"The reality is, that we are all gong to die at some point. No one gets out alive." "And that is why I am promoting my new book - Hookers, Blow and Viagra - And How to Get There."
With several high profile endorsements, including the Biden family, CNN and the Clinton Foundation, Bengen is optimistic about book sales and his upcoming Netflix special. "Look, we are trending even with Cuties, and except for a little T&A by Hillary Clinton, there is little nudity."
https://www.marketwatch.com/story/the-inventor-of-the-4-rule-just-changed-it-11603380557?siteid=yhoof2