Michael Finke

Look, this is the third year that you've tried to spend 7% from your portfolio.

And we agreed that Michael Finke and Wade Pfau were onto something when they suggested 2.7 to 3.5%.

and you've doubled their recommended withdrawal rate for the last four years you probably need to take a time out

right

The checks come as long as we're breathing, right? So we can spend those, and then we don't have to tap into our investments, because savers don't like to go into their investments to fund their lifestyle.

But they will, and there's a white paper that just came out from Dr. David Blanchett and Dr. Michael Finke, Guaranteed Lifetime Income, a License to Spend.

And it talks about how these paychecks and playchecks give retirees a psychological license to spend their money.

You know, everybody's worried about running out of money.

... which says we maybe should be spending, what is it, eight to-

According to this research in, and this was from Chris Browning and, uh, researchers Michael Finke and, um, [lip smack] David Blanchett, that we could be spending 8% more, all the way up to 100% more.

Okay.

[laughs]

Well, this study from...

I'm glad you brought that up.

The, this is Michael Finke and David Blanchett.

They dug into the numbers even more.

Welcome, everyone.

I'm Michael Finke, professor of wealth management at the American College of Financial Services.

And I'm joined here today by Fu Tan.

Fu is a senior investment strategist at Vanguard and also an expert in all things retirement.

You've talked in the past about how we're afraid to spend money in retirement, a good problem to have, and there's some new research around that, right, which says we maybe should be spending, what is it, eight to-

According to this research, and this was from Chris Browning and researchers Michael Finke and, um, David Blanchett, that we could be spending 8% more all the way up to 100% more.

Okay.

[laughs] And then-

Well, this study from...

I'm glad you brought that up.

Th- this is Michael Finke and David Blanchett.

They dug into the numbers even more.