Introduction to the 4% Rule: History, Context, Problems, and Ongoing Research (Interview with Dr. Wade Pfau) RPF0073

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 1 October 2014

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

There’s a great deal of information online about the “4% Rule” for retirement income. Much of the information is excellent. Some of it is flawed. It’s very challenging to work through the data in this area of research because much of it is highly technical. But, it’s worth the effort! In celebration of the 20th anniversary […]

Transcript

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0:00.0	Have you ever heard of the 4% rule for retirement planning?
0:05.0	Have you ever wondered where that came from, what the history is,
0:09.0	and what that rule actually means?
0:12.4	Today's show is an introduction to the history and the science
0:16.8	behind the famed 4% rule. And the Welcome to the Radical Personal Finance Podcast. My name is Josh Rishitz. Today is Wednesday,
0:42.1	October the 1st, 2014.
0:44.8	Today is episode 73 of the show.
0:48.7	And we're going to be talking about the 4% rule
0:50.9	with Dr. Wade Fow, professor from the American College of Financial Services.
0:56.4	He knows his stuff and he's far more qualified to teach you than I am. If you pay pay any attention to some financial planning
1:13.2	riding so you'll often hear about this thing called the 4% rule and if you don't
1:18.4	pay any attention to that stuff awesome I'm glad you're I'm glad you're here
1:21.5	I don't want to pretend that everybody always pays attention to those
1:25.8	aspects of the other online financial media. It doesn't really matter. I'm going
1:30.4	to introduce you to it today, but through an interview with Dr. Wade
1:34.0	Fow from the American College.
1:36.7	And before we do that, I just want to give you some very quick background.
1:41.2	The 4% rule, I've often mentioned it on the show and I think it is a useful, very very useful rule, but it's not a panacea.
1:50.5	It's not a solution for every retirement planning.
1:53.0	Woe and for every retirement planning question.
1:56.0	And the reasons why it's useful and the reasons why it has problems are many and they're complicated.
2:05.6	And it's very challenging for me to present them all in an overall format.
	...

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