QUOTE OF THE DAY
I’m convinced that having a long-term mindset and being more patient than other investors is one of the last true edges remaining in the markets. This is one of the few things that can never be arbitraged away by faster computing power or more intelligent hedge funds looking to make a quick buck. Ben Carlson
CHART OF THE DAY
RETIREMENT FINANCE AND PLANNING
The Relationship Between Guaranteed Income and SafeWithdrawal Rates, Mike Piper. In other words, holding all of the other variables constant, it’s reasonable for a person with a very high level of guaranteed income to spend from their portfolio at roughly three-times the rate of a person with a very low level of guaranteed income.
The Impact of Guaranteed Income and Dynamic Withdrawals onSafe Initial Withdrawal Rates, David Blanchett. Modeling dynamic withdrawals also affected safe initial withdrawal rates, although its impact was significantly less than that of guaranteed income, slightly less than return assumptions, but greater than the assumed portfolio asset allocation.