Factor growth and inflation into 'the 4 percent rule' for retirement savings

Freddy Garcia, vice president for investments at Left Brain Wealth Management, says that the classic '4 percent rule' created by financial-planning legend William Bengen needs to be adjusted in times like what we are seeing now, with rising inflation and the growth outlook for the market changing. Garcia says the rule can work as intended -- designed to determine the size a nest egg should be to last a lifetime --  but only when it is managed to reflect market conditions that can impact long-term returns.