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Catching Up to FI
Mr 4% is now Mr 5% | Bill Bengen | 111
Dec 15, 2024
Bill Bengen, the mastermind behind the 4% rule, shares his insights on retirement planning and market strategies. He reflects on how his research has evolved over 30 years, tackling pressing questions about risk management versus market timing. Bengen offers a sneak peek into his upcoming book, encouraging retirees to be more flexible with their spending. He emphasizes the importance of adaptability in portfolio management and shares valuable advice for late financial starters, making retirement planning less daunting and more attainable.
58:24
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Quick takeaways
- Bill Bengen's 4% rule serves as a foundational guideline for retirees, emphasizing the need to tailor withdrawal rates based on individual circumstances.
- Evolution in financial planning has shifted focus to comprehensive strategies, underscoring the benefits of fee-only advising over traditional commission-based models.
Deep dives
Bill Bengen's Journey to Financial Planning
Bill Bengen initially aspired to work in planetary exploration but shifted his focus towards financial advising after realizing the lack of opportunities in that field. He ultimately ran his family’s soft drink business for several years, which he enjoyed despite having initially vowed against it. Bengen’s timing proved beneficial in the late 2000s when he exited the stock market just before it faced significant downturns. His decision to shift careers allowed him to impact clients' lives positively through financial planning and, eventually, the development of the 4% rule.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode