Why You Are Probably Spending Too Little in Retirement Right Now (The 4.7% Answer)
Your retirement calculator may be holding you back from the best years of your life. Research by David Blanchett (Morningstar) and Wade Pfau shows that real retiree spending declines by up to 26% between age 65 and 84 -- and replacing the flat-spending assumption in the 4% rule raises the safe withdrawal rate to approximately 4.7%. On an $800,000 portfolio, that is $5,600 more per year in your go-go years. In this video we walk through the retirement spending smile, the three phases of retirement spending (go-go, slow-go, no-go), what the research says your withdrawal rate should actually be, and a four-step plan to adjust. Financial education, not advice -- walk your specific numbers through a fiduciary before making changes. ⏱️ CHAPTERS 00:00 What Your Retirement Calculator Is Getting Wrong 01:00 Part 1: What the Real Spending Data Shows (Blanchett's Research) 03:28 Part 2: Why the 4% Rule Underestimates Your Withdrawal Rate 06:04 Part 3: The Three Phases -- Go-Go, Slow-Go, and No-Go 09:20 Part 4: The 4.7% Number and What It Means for You 12:40 Part 5: A Four-Step Plan to Adjust Your Retirement Spending 15:08 The One Rule to Take From This Video
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