{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Dave Ramsey Eviscerates Co-Host George Kamel for Preaching the 4% Rule","description":"Dave Ramsey recently eviscerated his co-host George Kamel for preaching the 4% rule. According to George, withdrawing only 4% of your savings is the easiest way to guarantee your money lasts throughout retirement. George further adds that the 4% rule is a math-based approach to sustainable withdrawals in retirement. For Dave Ramsey, the 4% is senseless and only geared toward stealing people\u2019s hope for a brighter retirement. He believes an 8% withdrawal rate is more sustainable since your savings will be growing at a rate of 12%; factor in 4% for inflation, and you\u2019re left with 8%.  It\u2019s clear Dave Ramsey is oblivious to the sequence of return risk, which could force you to run out of money 15 to 20 years early if you experience a series of negative returns in the first decade of retirement.  The fact is, even if you average 12% rates of return throughout retirement, you won\u2019t be getting 12% every single year. Some years, you\u2019ll get 20%, and other years you\u2019ll get -26%.  David explains that the 4% rule gives you peace of mind that regardless of the swings in the market, you\u2019ll have a reasonably high chance of not outliving your money. Because Ramsey has millions of dollars, he has the license to utilize planning assumptions that are wildly at odds with history and academic research. If you\u2019d like a stress-free retirement, ignore Dave Ramsey\u2019s advice and embrace strategies that are built on sustainable retirement planning principles like the 4% rule.     Mentioned in this episode: David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free 3-part video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com ","author_name":"The Power Of Zero Show","author_url":"http:\/\/davidmcknight.com\/","html":"