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560. How to Retire w/ Christine benz
Earn & Invest
Stacking Conservative Assumptions in Retirement Planning
Many individuals in retirement planning adopt a strategy of stacking conservative assumptions, believing that it helps them make safer decisions. This includes lowering the expected safe withdrawal rate, adjusting historical investment return figures downwards, and delaying retirement age, which collectively limits potential retirement funds. Instead, it's suggested to apply general principles, like using the established 4% withdrawal rule or a 9% return estimate, while incorporating conservative adjustments only in the final planning stages. Additionally, there's a prevalent skepticism regarding the reliability of Social Security, leading to conservative assumptions that it may not be available in the future. Despite these concerns, Social Security can play a vital role in enhancing retirement security. Expert insights indicate that while some changes might occur within the program, there’s a strong foundation for expecting benefits, which should not be dismissed by those planning for early retirement.
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