James Bashall
speaker
199 appearances
1 recordings
1 series
first heard Jan 2026
last heard 29 Jan
James Bashall’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.
Appearances
You know, inflation-adjusted spending, which is in year one, you're going to spend X and we're going to increase that with inflation every single year.
An alternative is what they call a spending smile, where you spend more today, it then dips.
The older you get, your health starts to deteriorate, you're taking fewer trips, you start doing more stuff at home.
And then it goes up again at the end because to the point of that Fidelity study, your health care costs go up.
Healthcare costs are going to be more towards the tail end.
So through running multiple iterations through planning software, we're able to see, do you have enough to cover the uncertainty of what that shape is actually going to look like?
And that often is a better solution than trying to be too granular, which is a little bit of a guessing game that isn't going to make you feel confident in your retirement.
So the rule of 1,000 is now converting the thought process from what as a percentage of your current expenditure can you spend in retirement to now what assets do you need to support your expenditure.
And the rule of 1,000 is basically saying, well, for every $1,000 in monthly income you want, you should have about $240,000 saved today.
The way they populated that is they say, well, there's probably a 5% withdrawal rate with a 5% growth rate, which means your assets are remaining net flat year on year, but you're funding that $1,000 of expenditure.
And what's important there is the conversion from spending to an asset base.
And I mentioned it previously when we were talking about that 80% rule, which is sometimes it's easier to actually look at, well, what can you afford rather than what do you want?
Because spending is a bit of, you know, how much can I spend rather than if I gave an item to budget, you'd spend the item to budget.
So let's actually constrain it.
And we often say within our practice, the beauty of life happens within constraints.
So if I give you that constraint of, great, the rule of 1000 says you can spend $10,000 per month.
Go live your best life.
that's sometimes a better way of framing it for someone than saying, well, like, let's bottom up, calculate how much you want to spend.
And well, do I want the pair of shoes or not?
And like, does that add on to the 10,000 or not?
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