- "Determining Withdrawal Rates
Using Historical Data" by William P. Bengen
Journal of Financial Planning, October 1994
- Investment
advisors make crucial recommendations to retiree clients concerning
asset allocation as well as dollar amounts they can safely withdraw
annually, so clients will not outlive their money. But too often
advisors make recommendations based on long-term average returns and
average inflation rates, which may not hold up because of short-term
volatility or excess withdrawals. Historical investment data should be
used as a rational basis for these recommendations.
- "Asset Allocation for a Lifetime" by William Bengen
Journal of Financial Planning, August 1996
- Following up his
acclaimed October 1994 article in the Journal, "Determining Withdrawal
Rates Using Historical Data," Bengen takes readers through three client
scenarios and recommendations for the clients' retirement money
management plans.
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