New Article on Safe Withdrawal Rates Shows How Far We Still Have to Go

I wrote last week about a recent article in Financial Advisor magazine titled Bill Bengen Revisits the 4 Percent Rule Using Shiller’s CAPE Ratio, Michael Kitce’s Research. I like the article because it says things that could not be said in May 2002, when I first pointed out the error in the studies claiming that the safe withdrawal rate is always 4 percent.Q3 2020 hedge fund letters, conferences and moreBengen writes: “High initial withdrawal rates are consistently associated with ‘cheap” stock markets and low initial withdrawal rates are associated with ‘expensive’ stock markets. The correlat…

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HEDGE accordingly