• Planning for Large Costs in Retirement | Beyond the 4% Rule

  • Jun 11 2024
  • Duración: 23 m
  • Podcast

Planning for Large Costs in Retirement | Beyond the 4% Rule

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  • Resumen

  • Listener Sherry asks a good question: How do large, one-off expenses (like a new roof, new car, etc.) fit in the 4% Rule?

    James explains the concept of the 4% Rule and its limitations while demonstrating how it can be an effective guideline in planning and forecasting retirement success.

    He addresses the importance of anticipating one-off expenses and, depending on your portfolio withdrawal rate, using sinking funds to get a reality check on where you stand.


    Questions answered:
    Are one-off expenses covered in the 4% Rule?
    Who should be concerned with creating sinking funds for one-off expenses?


    Timestamps:
    0:00 - Sherry’s question
    3:19 - Shortcomings of the 4% Rule
    5:30 - Look at income and outcome
    6:58 - Portfolio withdrawal rate
    10:51 - Example of no margin
    13:02 - Sinking funds
    16:57 - New reality check
    18:49 - Consider the duration of expenses
    20:17 - The wrap-up

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