The 4% rule is the foundation of so much of what we do as financial advisors, as retirees,

to see how much can we actually spend in retirement without running too high a risk of running out of money.

But the 4% rule in many ways is outdated.

And today I'm talking to the author himself, where he says that the actual rate that you can pull from your portfolio is closer to 4.7% or higher based on a few conditions.

That's what we're talking about in today's episode. Today, my guest is Bill Bangan. He is a

former aeronautical engineer from MIT. He's a former financial advisor. He is the original

author of the 4% rural white paper, and he is out with new research, showing us how you can

live a richer retirement

if you tweak a few key things with your portfolio and with the way you determine withdrawal

rates. Enjoy today's conversation with Bill Bangen. Bill, thank you so much for being on the show.

Really appreciate you making time and excited to learn a lot from you today.

Well, thanks for the invitation. I'm looking forward to it.

One of the things that you're, of course, very well known for is this whole 4% rule. I think some

people take for granted as just a rule of thumb that's existed forever, but it hasn't. That was based

upon a lot of research that you've done that you did back in 1994. You have a new book,

new research that I'm really excited to talk to you about because it's going to really enhance

the way people can think about their retirement and what their retirements can look like.

But before we jump in there, I'm curious to hear from you prior to this seminal research

that you released back in 1994. How are people approaching retirement

planning in terms of figuring how much they could pull from their portfolio?

You know, it was an issue that wasn't addressed in the literature at all. I know because I

searched for it from magazines and professional journals and then I'm talking to some of my local

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