Suze Orman Says 3%, Bill Bengen Says 4.7%--Who’s Right on Sustainable Withdrawal Rates?

1 rich Libsyn https://www.libsyn.com 90 600 Suze Orman Says 3%, Bill Bengen Says 4.7%--Who’s Right on Sustainable Withdrawal Rates? David McKnight compares the approach of some of the biggest names in personal finance: Suze Orman, and William “Bill” Bengen (the man who invented the 4% Rule). In a recent interview covered by MSN, Suze Orman declared flat out that the 4% Rule is dead since markets are volatile, interest rates fluctuate, and people are living longer. David shares the “origin story” of how the 4% Rule came to be – and its creator Bill Bengen. Interviewed by MSN, Bengen updated his research and concluded that, based on current data, a 4.7% withdrawal rate is now sustainable. David compares Orman’s views on the 4% Rule with those of Bengen. As explained by David, when you purchase a guaranteed lifetime income annuity, you’re transferring a portion of your retirement savings to an insurance company in exchange for a guaranteed paycheck for life. Remember: not all annuities are created equal – that’s why you need to understand fees, credit ratings, inflation writers and surrender periods. &nbsp; &nbsp; Mentioned in this episode: David’s new book, available now for pre-order: The Secret Order of Millionaires David’s national bestselling book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter&nbsp; @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Suze Orman William Bengen The Power Of Zero Show http://davidmcknight.com/ <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/38775845/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/87A93A/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/item/38775845