A Safety First Retirement | The 4% Rule and Managing Sequence of Returns Risk with Wade Pfau
Excess Returns
Safety First Retirement Planning
This chapter focuses on the concept of safety first in retirement planning, emphasizing the importance of securing reliable income to cover essential expenses. It contrasts traditional probabilistic models with strategies like bonds, social security, and annuities, while discussing the complexities of essential versus discretionary spending. The narrative also highlights the effectiveness of risk pooling through annuities and the role of adaptive asset allocation in enhancing financial security during retirement.
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