Making Money
Will you run out of money in retirement?
May 5, 2025
In this engaging discussion, financial planner George Agan from Flying Colours Advice shares his expertise on retirement planning. He highlights critical risks that often go unnoticed, such as market crashes and inflation impacts. George challenges the much-referenced 4% rule, stressing the need for tailored strategies. He unveils adaptive financial techniques for sustained security, explores unique spending patterns in retirement, and emphasizes the importance of diversifying assets. A must-listen for anyone looking to secure their financial future!
01:11:49
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Quick takeaways
- The 4% rule and 3-7 rule highlight that personal circumstances should influence retirement withdrawal strategies rather than relying solely on averages.
- Proactive management of retirement finances, including regular plan adjustments, is crucial for adapting to changing life circumstances and financial demands.
Deep dives
Understanding Retirement Savings Rules
The 4% rule and the 3-7 rule serve as foundational guidelines for retirement financial planning. The 4% rule suggests that individuals can withdraw 4% of their retirement savings annually without running out of money, meaning a £1 million pot allows for £40,000 a year. The 3-7 rule adjusts this by accounting for taxes, suggesting a monthly draw of £3,000 would necessitate a larger pot of £1,125,000. Both rules highlight the importance of considering unique personal circumstances rather than relying solely on broad statistical averages.
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