The parents who worry about being good parents are often good parents. (well, the ones that worry and do something about it)
In that very same way, the folks who worry about safe withdrawal rates tend to be better with their finances and are better prepared, financially, for retirement.
That’s why Jordan Grumet believes it’s the wrong conversation.
Why You’re Wasting Time Worrying About Safe Withdrawal Rates [The Purpose Code] – “A 2024 Morningstar study revealed that nearly half of Americans retiring at age 65 could run out of money. That’s a sobering statistic. It’s based on comprehensive simulation data and a host of economic assumptions about Social Security, market returns, savings habits, and more.
But on the other hand, every financial advisor I speak with—especially those working with high-net-worth individuals—shares a wildly different experience. When asked how many of their clients run out of money in retirement, their answer is nearly unanimous:
“None.”“