Retirement income myths are debunked and the flaws in the 4% rule are exposed in this episode. Experts discuss sequence of return risk, investing in bonds for retirees, and the evolving risk profiles of stocks. The significance of variable spending rates and the fallacies behind aggressive withdrawal suggestions are uncovered. A safety-first approach in retirement finance is advocated, along with the importance of seeking second opinions and having a trustworthy advisor.

Michael Finke, Chair of economic security research at the American College of Financial Services, dives into the intricacies of behavioral finance in retirement planning. He discusses how fear during market downturns can lead to impulsive decisions and the importance of proactive advising. Finke reveals the necessity for personalized investment strategies and elaborates on mean reversion's role in market dynamics. Additionally, he explores how tracking savings can positively and negatively influence financial habits, emphasizing a balanced approach to managing personal finances.

Robert Brokamp interviews Michael Finke, discussing withdrawal rates for retirement. Netflix's $5 billion deal with the WWE, Proctor & Gamble's Gillette write down, and Schwab's deposit flight are also discussed. The impact of interest rates on Charles Schwab and customer investment decisions is explored. The correlation between health and wealth, predicting financial outcomes, and factors to consider for retirement savings are mentioned.