Financial expert and author Ric Edelman has stated that, in his opinion, anyone following Dave Ramsey’s 8% retirement withdrawal strategy is…doomed!
The 4% rule has been the distribution rates’ gold standard for over 30 years.
However, Suze Orman said that she wouldn’t use the 4% rule on any level.
David touches upon what he considers a “massive unintended consequence” of adopting Suze Orman’s 3% withdrawal rate in retirement.
According to David, there isn’t a winner between a 3%, a 4%, and an 8% retirement withdrawal strategy.
He gives a couple of examples that illustrate why that’s the case.
David believes that, to get the best bang for your buck with the highest success rate over a 30-year retirement, a guaranteed lifetime income annuity is – almost always – the best way to go.
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
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
