Please stay tuned for important disclosure information at the conclusion of this episode.

Hi and welcome to the Longview. I'm Amy Arnott, portfolio strategist for Morning Star.

And I'm Christine Bands, Director of Personal Finance and Retirement Planning for Morning Star.

Our guest on the podcast today is William Bangen. Bill has been a prolific researcher of

retirement planning matters over his career, and he pioneered the exploration of safe withdrawal

rates with his groundbreaking 1994 research that gave birth to what's now called the 4% rule.

His new book, A Richer Retirement, Supercharging the 4% Rule to Spend More

and Enjoy More, was published in August 2025. Bill is the former owner of Banking Financial

Services and Independent Register Investment Advisor that he launched in 1989 after his family

sold the soda bottling business that he had helped manage.

He received his Bachelor of Science degree in Aeronautics and Astronautics from MIT.

Bill retired from his financial planning practice in 2013, but continues to conduct research

on retirement planning and withdrawal rates.

Bill, welcome to the Longview.

Glad to be here.

Well, thank you so much for joining us.

So the last book, conserving client portfolios during retirement came out in 2006,

and you write that a richer retirement,

which was published in August 2025, is more than just an update to that book.

What did you want to accomplish with this book?

Basically, my purpose was to provide a complete overview of my methodology for determining safe withdrawal rates and written for the non-professional.

The first book was written for professionals.

...