The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with.
Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.
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The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with.
Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.
In this live Q&A session, Wade Pfau, Alex Murguia, and Bill Bengen discuss the intricacies of safe withdrawal rates in retirement, focusing on the relevance of the 4% rule, the impact of inflation, and the importance of investment strategies. They explore various topics including the significance of account types, the risks associated with stock picking, and the necessity of adjusting withdrawal rates based on market conditions and personal circumstances. The conversation emphasizes the need for a tailored approach to retirement planning, considering factors like tax efficiency and rebalancing strategies.
Takeaways
Inflation is a significant risk in retirement planning.
The 4% rule is not a fixed rule and can vary.
Longer planning horizons require lower withdrawal rates.
Account types affect the net amount available for withdrawal.
Stock picking can be risky and is not recommended for most.
Market conditions can influence safe withdrawal rates.
Adjusting withdrawal rates in response to inflation is crucial.
Understanding current vs. synthetic withdrawal rates is important.
Annual reviews of withdrawal plans can help manage risks.
Tax efficiency should be considered in withdrawal strategies.
Chapters
00:00 Introduction to Safe Withdrawal Rates
05:30 Understanding Account Types and Withdrawals
09:25 Small Caps and Future Performance
15:10 Annual Review of Withdrawal Plans
19:36 Immediate Actions in High Inflation
21:22 Customizing Withdrawal Strategies
22:55 Tax Considerations in Withdrawals
23:44 Withdrawal Strategies from a Multi-Fund Portfolio
26:45 Replacing Micro Caps in Portfolios
Links
Get Bill Bengen’s New Book – A Richer Retirement
Want to dive deeper into the research behind the 4% rule and how retirement income planning has evolved?
Bill Bengen’s new book, A Richer Retirement, is now available—visit bengenfs.com to learn more and get your copy.
🎉 We’re About to Hit 200 Episodes! 🎉
Can you believe it? Retire With Style is closing in on our 200th episode, and we want you to be part of the celebration!
Whether you’ve been with Wade and Alex since episode one or just joined the party, this milestone wouldn’t be possible without listeners like you. Help us mark the occasion by sending in a short video or voice note to share your favorite moment, biggest takeaway, or just some kind words for the guys.
We’re also running a special giveaway to thank our community — and yes, there will be prizes.
👉 Be a part of Episode 200 by visiting https://retirewithstyle.com/join-episode-200 to join the celebration!
Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!
The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/
This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips
Retire With Style
The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with.
Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.
