How Much Can You Really Spend in Retirement? - 172

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 6 June 2018

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wade Pfau on the 4% rule for retirement withdrawals. How a risk-filled burrito can earn up to 11%. Joe & Big Al take on Dave Ramsey’s advice to pay debt before saving for retirement and they debate real estate vs. bonds. IRA planning for the rest of 2018 to save on taxes - tell the grandparents to use RMDs for QCDs. Work remotely? Consider a move to Vermont. Lifestyles of the middle class in a new segment, "Where Does Big Al’s Wife Anne’s Family Live?" Transcript & show notes: http://bit.ly/YMYW-172

Transcript

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0:00.0	The 4% rule actually is the strategy that creates the most sequence risk, because you never
0:05.2	adjust your spending based on how your portfolio is doing. Being flexible helps a lot. If you can just
0:10.9	reduce your spending a little bit when markets aren't doing as well as you hoped, that helps
0:15.5	you avoid selling assets at a loss, and that helps manage sequence risk. And that allows you to use
0:20.3	a higher spending rate
0:21.4	at the beginning of retirement than otherwise. So with some degree of flexibility there, whether it's
0:26.0	just changing your spending level or having some sort of buffer asset to draw from, yeah,
0:30.8	you can be more comfortable. Today on Your Money, Your Wealth, we continue our interview from a few
0:35.4	weeks ago with retirement researcher Dr. Wade Fowl.
0:38.6	This time exploring the 4% rule for retirement withdrawals. Just how much can you really spend in
0:43.5	retirement? Plus, how a risk-filled burrito can earn you up to 11% on your money. Joe and Big Al
0:48.6	take on Dave Ramsey's advice to pay off debt before saving for retirement, and they loudly debate
0:53.7	the merits of real
0:54.5	estate versus bonds in a portfolio. Also, IRA planning for the rest of 2018 that can save you big
0:59.9	with the IRS, in taxes, that is, and you got to tell mom and dad or grandma and grandpa about using
1:05.0	their RMDs for some QCDs, trust me on this. Finally, if you're able to work remotely, you might
1:10.0	want to move to Vermont, and lifestyles of the middle class in a brand new segment called Where Does Big Al's Wife Anne's family live? Now here are Joe Anderson CFP and Big Al Cloakline CPA. Hey, do you ever get Kiplinger? Kipplinger? Kipplinger. We always say Kipplinger. You're just correct. Kipplinger. I still like Kipplinger. Kiplinger. Kipplinger. We always say Kiplinger. We're just correct.
1:28.3	Kipplinger.
1:29.3	I still like Kiplinger.
1:30.3	I still like Kiplinger.
1:31.3	I think that sounds better.
1:33.3	I do too.
	...

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