Bill Bengen: Revisiting Safe Withdrawal Rates

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 14 December 2021

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

The creator of the 4% guideline discusses the implications of higher inflation and elevated equity valuations for new retirees.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York, purchase New York.
0:26.6	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.6	Hi, and welcome to the Longview. I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.
0:39.3	And I'm Jeff Patak, Chief Ratings Officer for Morning Star Research Services.
0:43.2	Our guest on the podcast today is William Bangan. Bill has been a prolific researcher of retirement
0:48.8	planning matters over his career, and he pioneered the exploration of safe withdrawal rates
0:53.8	with his groundbreaking
0:55.0	1994 research that gave birth to what's now called the 4% rule.
0:59.9	Bill is the former owner of Bangin Financial Services, an independent registered investment advisor
1:05.2	that he launched in 1989, after his family sold the soda bottling business that he had helped
1:10.5	manage.
1:11.5	He received his bachelor's of science degree in aeronautics and astronautics from MIT.
1:17.1	Bill retired from his financial planning practice in 2013, but continues to conduct research
1:22.3	on retirement planning and withdrawal rates.
1:24.9	We're excited to have him here today.
1:27.1	Bill, welcome to the Longview.
1:29.3	Thanks for inviting me. Glad to be here. Well, we're happy to have you here. You pioneered the
1:34.5	research and safe withdrawal rates starting back in 1994, and you and others have revisited the topic
	...

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