Does Early Retirement Still Work With 2023 Inflation? Featuring Bill Bengen

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 12 April 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bill Bengen, who established the 4% safe maximum withdrawal rate (the rule on which most of financial planning relies), is a straight shooter, and his perspective on whether or not we’re currently in uncharted waters surprised me. But fear not—there’s a little-discussed element of planning for early (as well as regular!) retirement that might be our saving grace. We’ll unpack that, too. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode The 4% Rule by Bill Bengen: https://www.retailinvestor.org/pdf/Bengen1.pdf Our previous episode on the 4% Rule: https://podcast.moneywithkatie.com/the-most-dangerous-misconceptions-about-the-4-safe-withdrawal-rate/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think your point is well taken.
0:02.1	If you're an individual who has his own personal inflation rate is lower than national,
0:08.2	you probably will find that numbers I give are a little bit conservative and that you're
0:13.2	going to end up with a lot of money when you did.
0:17.0	Which is like the worst time to have a lot of money, right?
0:19.8	Yeah, let's talk to Stan.
0:28.0	Welcome back to this week's episode of The Money with Katie Show, Rich Family.
0:32.6	I'm your host, Katie Gatti Tossan, and today, I have a very special treat for you and
0:39.4	me, frankly.
0:45.9	Because when we talk about our face-melting, calendar, liberating, eventual retirements,
0:51.8	it doesn't take long to shift from dreaming of endless European river cruises to waking
0:57.2	up to the cold, hard reality of how many dollars we're going to need.
1:02.2	Whether you're going to pursue what I like to call the evolved model of retirement, wherein
1:06.1	your working life might be longer, but it's peppered with sabbaticals and periods of
1:11.1	part-time work and other departures from a traditional career, or you're going for the
1:16.7	tried and true work for 40 rage for 20 strategy, financial beam counting is an inescapable
1:23.7	part of the process.
1:25.6	The retirement math linchpin, on which all of our fantasies of Tuesday afternoon naps
1:31.5	and 2PM Virgin Margrita's rely, is the 4% rule.
1:38.3	Introduced by Mr. Bill Bengit, it is the foundational theory on which almost everything
1:48.0	pertaining to long-term financial planning is built.
1:51.9	Devotees of the five community wear t-shirts with Bill Bengit's face on them underneath
	...

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