Safe Withdrawal Rates for Retirement

Rules of thumb can oftentimes be helpful when trying to complete a task. However, there are some tasks—such as retirement planning—where rules of thumb won't yield the best possible results. That's because retirement planning needs to be unique to each person. An example of one of those retirement planning rules of thumb is the 4% rule for a safe withdrawal rate. The term safe withdrawal rate refers to how much retirees can take out of their retirement accounts on an annual basis without potentially outliving their money. Dean Barber and Bud Kasper, CFP®, AIF® are going to help us review a 2023 Morningstar study about safe withdrawal rates and provide more background on the 4% rule.

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Morningstar State of Retirement: 2023: https://www.morningstar.com/lp/the-state-of-retirement-income

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