Episode Details

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Episode 3317:

Darrow Kirkpatrick explores the two dominant schools of retirement income planning: probability-based strategies, which rely on investment growth and withdrawal methods, and safety-first approaches, which prioritize guaranteed income through annuities or bonds. He highlights the strengths and pitfalls of each, noting that the most practical solution for many retirees is often a thoughtful combination of both philosophies.

Read along with the original article(s) here: https://www.caniretireyet.com/are-you-feeling-lucky-the-two-schools-of-retirement-income/

Quotes to ponder:

"In the safety-first philosophy, you, or a financial planner, match guaranteed income to essential expenses."

"A failure probability in the neighborhood of 10% is often considered acceptable. That’s one chance in ten."

"Failure is defined as running out of money before running out of life."

Episode references:

Michael Kitces: https://www.kitces.com/

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