William Bengen

speaker

108 appearances 1 recordings 1 series first heard Jul 2026 last heard 25 Jul

William Bengen’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Motley Fool Hidden Gems Investing · The Father of the 4% Rule Says Retirees Can Take Out Much More · 25 Jul 2026 podcast

I think a lot of people just do that naturally.

So I'm not going to try to fight that.

I think it makes sense if your portfolio is under stress due to inflation or bear market, that you want to take a cautious stance, cut back a little bit on spending, temporarily at least, and just wait and see how bad the situation becomes.

Sure.

The withdrawal rate is very sensitive to the planning horizon.

So if we use 30 years as kind of a midpoint standard, 4.7% is the associated withdrawal rate.

If you would, let's say, have a 10-year horizon, your withdrawal rate would probably be around an 8%, believe it or not, because you only have 10 years to deal with, and you shouldn't have a lot of stocks probably at that point.

One of the interesting features of the planning horizon is that the withdrawal rate drops as the length of the planning horizon increases, but eventually reaches a point where it doesn't decline anymore.

It kind of reaches the floor.

And for the 4.7% rule, let's say a 60-year would be 4.1%.

And it wouldn't get much slower than that for 80, 90, 100 years, as far as I can tell.

There's a certain minimum percentage of stocks you need to have in your portfolio to get the highest withdrawal rate you can.

However, if you try to raise stocks to too high a level, it may be counterproductive because during a major bear market, your portfolio could lose 50% or more.

And that's tough to come back from in any reasonable timeframe.

You know, that's the nature of the beast.

I think most people can handle at least 50.

And I'm doing research right now that indicates that it may be better to have more than 55, 40.

Maybe we should be at 65.

I read a model right now.

at 65% stocks and it's generating higher withdrawal rates than would have been under my earlier analysis.

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