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
And so I actually prefer that to the 80%, to the rule of 1,000, just because it's a much quicker number to calculate in your head.
Now, you also get a question, Elizabeth, which one should each person be doing?
Well, very few people are good at tracking their expenses.
I don't know about you two, but most people are pretty bad at knowing what they spent.
I think there are studies out there that say like 95% of people underestimate how much they spend.
So when you say, today I spend $1,000 a month and in retirement, I only need 800.
There's a huge risk there that you have got the $1,000 completely wrong.
So when you do the inverse rules, when you're looking at your asset base and you're giving yourself a budget to work within, that's actually a much safer way to work when looking at your retirement, because it gives you the constraint that says, hey, once you've spent that budget, you're out, no more spending, which is a much safer way of going than like, yeah, I've only spent 300 bucks this month.
Meanwhile, the credit card bill says you spent 2000.
Yeah.
As I said, I mean, I think I mentioned it just now, but I actually don't use these a lot.
So the 4% is like a nice back pocket thing to have.
I rely much more heavily on the actual statistical processing of where people are at.
And that is using a Monte Carlo analysis that's running thousands of simulations of what the future could look like.
Because we want to have the variability of each of these factors considered in the plan to make you feel good.
When we oversimplify things, we often kill the complexity from the equation.
And that's sometimes to our detriment because it's a complex thing.
And we need to work within these boundaries.
100%.
Yeah.
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