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Our guest on the podcast today is William Bengen. Bill has been a prolific researcher of retirement planning matters over his career, and he pioneered the exploration of safe withdrawal rates with his groundbreaking 1994 research that gave birth to what’s now called the 4% rule. His new book, A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More was published in August 2025. Bill is the former owner of Bengen Financial Services, an independent registered investment advisor that he launched in 1989 after his family sold the soda bottling business that he had helped manage. He received his Bachelor of Science degree in aeronautics and astronautics from MIT. Bill retired from his financial planning practice in 2013 but continues to conduct research on retirement planning and withdrawal rates.

Episode Highlights

Why the 4% Rule Needed a Rethink
Inflation as the Biggest Retirement Risk
Different Approaches to Finding Your Withdrawal Rate
Factoring in Longevity, Taxes, and Legacy
Managing Your Asset Allocations, and Outsourcing the Rebalancing Process
The 4% Rule Is Not for Everyone

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Bill Bengen: ‘Inflation Is the Greatest Enemy of Retirees’

The Long View

Bill Bengen: ‘Inflation Is the Greatest Enemy of Retirees’