Is 4% Too Conservative? How Much You Can Really Spend in Retirement - 604

Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC How much can you actually spend in retirement without running out of money? That’s today on Your Money, Your Wealth® podcast 604 with Joe Anderson, CFP® and Big Al Clopine, CPA. Longtime listener E-Dog built a fifty-year backtest spreadsheet to call out Big Al and prove the famous four percent rule is way too cautious. Hot stuff “Donna Summer” wonders if her biggest problem with her $13 million dollar portfolio is going to be the distributions she’ll be required to take from it and how to manage them. “Hansel and Gretel” in Minnesota are trying to figure out now what a lot of good savers never do: how to permit themselves to spend their $4.3 million dollar portfolio? James in Texas needs a spitball on how much to convert to Roth before Social Security and Medicare kick in, and Mark needs a spitball on whether he should save for retirement to his pre-tax 401(k) or his post-tax Roth. Free Financial Resources in This Episode: https://bit.ly/ymyw-604 (full show notes & episode transcript) Withdrawal Strategy Guide - free download: https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep604-description-whitepaper Financial Blueprint - free, self-guided: https://purefinancial.com/financialblueprint/?utm_source=captivate&utm_medium=podcast&utm_campaign=financial-blueprint&utm_content=ymyw-pod-ep604-description-blueprint Retirement Panic? Here’s Your 7-Step Escape Plan - YMYW TV: https://purefinancial.com/ymyw/episodes/retirement-panic-button/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep604-description-tv-s11e04 REQUEST your Retirement Spitball Analysis: https://bit.ly/YMYWaskC DOWNLOAD more free guides: https://bit.ly/YMYWguidesC READ financial blogs: https://bit.ly/YMYWblogC WATCH educational videos: https://bit.ly/YMYWvidsC SUBSCRIBE to the YMYW Newsletter: https://bit.ly/YMYWnewsletterC Connect With Us: Subscribe on YouTube and join the conversation in the comments: https://bit.ly/YMYW-YT Subscribe or follow YMYW in your favorite podcast app: https://lnk.to/ymyw Leave your honest reviews and ratings in Apple Podcasts: https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254 Chapters: 00:00 - Intro: This Week on the YMYW Podcast 01:05 - Is 4% Too Conservative? A Listener’s 50-Year Backtest (E-Dog) 17:10 - Roth Conversion to the Top of 24% Tax Bracket, or Protect My ACA Subsidy? (James, TX) 27:53 - Will RMDs Be My Biggest Problem on a $13M Portfolio? (Donna Summer, CA) 36:47 - $4.35M and Scared to Spend It. What’s Our YOLO Number? (Hansel & Gretel, MN) 44:30 - In My Late 30s With $750K Income: Save to Roth or Pretax 401(k)? (Mark) 49:40 - Outro: Next Week on the YMYW Podcast 51:05 - The Derails: Donna Summer, Hansel & Gretel, Joe's six fridges, and TV