A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More - Hardcover

by William P. Bengen (Author)

Know exactly how much you can safely spend each year after you retire without outliving your nest egg

In A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More, entrepreneur, researcher, and financial planner, William P. Bengen, delivers a straightforward, soup-to-nuts guide for maximizing your withdrawals from your investment accounts during your retirement. The author explains how you can draw heavily on your retirement accounts without spending yourself into premature poverty.

This book is a comprehensive roadmap to constructing your personal retirement withdrawal plan. You'll learn how to compute a low-risk maximum withdrawal rate so that you can enjoy your retirement savings to the utmost. You'll also discover guidance on why and how to adjust your withdrawals during retirement to help make sure that your accounts last your entire life.

You'll also find:

• The eight elements of a comprehensive personal retirement withdrawal plan
• Techniques for selecting your withdrawal rate based on the eight elements, inflation, and stock market valuation
• A template for your withdrawal plan that will help you recognize if you're overspending (or underspending!) and exactly how to address that issue

Perfect for well-informed laypeople entering, nearing, or in retirement, A Richer Retirement is a can't-miss retirement playbook for everyone who wants to make the most of their retirement savings without outliving their nest egg. It's also an essential read for financial professionals who serve clients in or close to retirement.

Front Jacket

In A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More, William P. Bengen, an entrepreneur, researcher, and financial planner delivers an easy-to-understand, soup-to-nuts guide for maximizing your withdrawals from your investment accounts during your retirement. Bengen explains how you can draw heavily on your retirement accounts without incurring undue risk or spending yourself into premature poverty.

This book is a detailed roadmap to creating your personal retirement withdrawal plan. You'll learn how to compute a maximum withdrawal rate compatible with your family's risk tolerance, allowing you to enjoy your retirement savings as much as possible. You'll also discover guidance on when, why, and how to adjust your withdrawals during retirement to make sure that your savings last your entire life.

A Richer Retirement explains the eight elements of a comprehensive, low-risk personal retirement withdrawal plan, as well as specific techniques for selecting your withdrawal rate based on those elements, inflation, and stock market valuations. The author also includes five withdrawal plan case studies that will help you recognize if you're over- or under-spending and how to properly adjust the pace of your withdrawals.

Bengen walks you through concepts like "SAFEMAX" -- a historically "safe" withdrawal rate -- and the materiality of the risk of running out of money in retirement.

Perfect for anyone entering, nearing, or already in retirement, A Richer Retirement is a must-read playbook for those who want to make the most of their savings and retirement accounts without outliving their nest egg. It's also an essential resource for financial professionals and planners who serve clients preparing for or in retirement.

Back Jacket

Praise for A RICHER RETIREMENT

"Bill Bengen has delivered a tour de force of retirement planning. Although written for retail clients, financial advisors and other professionals will benefit from his analysis of the most difficult problem facing retirement planners: how to make one's 'nest egg' last a lifetime. Bengen has quantified the elements and risks underlying how much retirees can spend over a 30-year (or sometimes longer) retirement horizon."
--ROBERT HUEBSCHER, Founder of Advisor Perspectives, and former Vice Chairman, VettaFi and the Toronto Stock Exchange

"No other researcher has explored so deeply how to navigate the complexities of safely taking income out of a retirement portfolio or explained it so clearly that even a novice investor can understand the how and why."
--BOB VERES, Owner, Inside Information

"How much retirees can reasonably spend in retirement is the hardest problem in financial planning, and no one has studied it for as long and with as much rigor as William Bengen. A Richer Retirement builds upon his seminal research with the goal of helping retirees maximize their incomes and live their best lives. Chock-full of data and astute observations, it's a tremendous resource for both retirees and their financial advisors."
--CHRISTINE BENZ, Director of Personal Finance and Retirement Planning, Morningstar

"Bill Bengen introduced the field of retirement income planning to financial professionals and academics. This book provides a deeper dive into the factors that influence how much a retiree can safely withdraw from investments to create a lifestyle. How should a retiree deal with investment risk, inflation, the high price of stocks, and longer lifespans? In a style that is both comprehensive and a delight to read, Bill demystifies investing and spending for today's retiree."
--MICHAEL FINKE, Professor and Expert in Retirement Investing, Income Planning, and Life Satisfaction

"For the past thirty years, William Bengen's sustainable spending research has served as the heart and soul of the 'Total Return' retirement income style. A Richer Retirement documents all he has learned and pushes the analysis forward with new techniques for maximizing the spending power of your retirement investments."
--WADE PFAU, PhD, CFA, RICP, Author of Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success

"Bengen delivers a well-researched, rigorous, and readable book that clearly presents the methodology and assumptions required to develop a safe withdrawal rate while providing valuable insights into the risks of withdrawal strategies in retirement. Importantly he shows how to manage the strategy throughout retirement."
--LARRY SWEDROE, Author of 18 books on investing, including Enrich Your Future

Author Biography

WILLIAM P. BENGEN is a financial researcher and former Certified Financial Planner licensee. He's an expert in the sustainability of withdrawals from stock and bond portfolios and is frequently quoted in major financial publications. He's a recipient of the NAPFA's Robert J. Underwood Distinguished Service Award.