Retire With Style

As we close out 2025 and head into the New Year, we’re sharing one final Best of episode before returning with new conversations in January. This week’s replay is Alex’s top pick from the year, a conversation that stood out for its relevance, insight, and the questions it generated from listeners. We’ll be back soon with brand new episodes in 2026. Until then, Happy New Year, and thank you for being part of the Retire With Style community! Repost from Episode 174 In this episode of Retire with Style, Wade Pfau and Alex Murguia sit down with Dr. Daniel Crosby, a leading voice in behavioral finance, to unpack the psychological side of investing in today’s volatile markets. Together, they examine how market swings and media noise shape investor behavior—and why having a thoughtful media diet and disciplined decision-making framework is more important than ever. This conversation lays the foundation for next week’s episode, where the discussion will shift toward deeper questions of wealth and meaning. Listen now to learn more! Takeaways Chapters 00:00 Introduction to Behavioral Finance and Market Volatility 02:56 Understanding Market Reactions and Investor Psychology 06:01 The Impact of Media on Financial Decision Making 08:47 Navigating Uncertainty in Financial Markets 12:05 The Importance of Patience and Discipline in Investing 15:03 Frameworks for Better Financial Decision Making 17:55 Conclusion and Transition to The Soul of Wealth Links Click here to watch this episode on YouTube: https://youtu.be/6pMFE_-u0YM Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

As the year comes to a close, we’re taking a moment to revisit a few of our favorite Retire With Style episodes from 2025. This week, we’re replaying one episode that stood out in particular as Wade’s favorite conversation of the year, based on both the discussion and the questions it sparked from listeners. We’ll be back with brand new episodes after the holiday break. Thanks for listening this year, and we look forward to continuing the conversation in 2026. Repost from Episode 195 In this episode of Retire with Style, Wade Pfau and Alex Murguia talk with William Bengen, pioneer of the 4% rule in retirement planning. They explore the rule’s evolution, how inflation and market valuations shape sustainable withdrawals, and Bengen’s current recommendations. The discussion highlights the role of asset allocation, the importance of withdrawal strategies, and why ongoing monitoring is essential for a secure retirement. Takeaways Chapters 00:00 Introduction to Retirement Income Planning 01:14 The Birth of the 4% Rule 03:03 Understanding Withdrawal Rates 09:15 The Impact of Inflation on Withdrawals 12:45 Market Valuation and Its Effects 18:07 Current Withdrawal Rate Recommendations 21:10 Asset Allocation Strategies 24:04 Free Lunches in Investment Strategies 27:34 Key Takeaways from A Richer Retirement 31:15 Future Research Directions Links Get Bill Bengen’s New Book – A Richer Retirement Want to dive deeper into the research behind the 4% rule and how retirement income planning has evolved? Bill Bengen’s new book, A Richer Retirement, is now available—visit bengenfs.com to learn more and get your copy. Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire with Style, Wade Pfau and Alex Murguia explore how Treasury Inflation Protected Securities, or TIPS, fit into a retirement income plan. They discuss when it may make sense to build a TIPS ladder, the challenge of predicting interest rates, and how TIPS compare with equities as tools for managing inflation risk. The conversation also addresses strategies for creating inflation-adjusted income, the role TIPS can play alongside Social Security, and how a TIPS ladder can support a Social Security delay bridge. Listen now to learn more. Takeaways Chapters 00:00 Introduction to TIPS and Retirement Planning 02:44 Building a TIPS Ladder: Timing and Strategy 06:06 Understanding Interest Rates and TIPS 08:53 TIPS vs. Equities: Inflation Protection and Growth 11:46 Creating Inflation-Adjusted Income Streams 15:05 The Role of TIPS in Retirement Income 17:55 Bond Funds vs. TIPS: A Comparative Analysis 21:13 Social Security Delay Bridge and TIPS 24:00 Current TIPS Market and Yield Considerations 27:00 Final Thoughts and Holiday Wishes Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire With Style, Alex Murguia and Wade Pfau explore core themes in retirement planning, including the 4 percent rule, sequence of returns risk, and how to balance discretionary and essential spending. They discuss how these factors shape retirement income strategies, the role of reliable income sources, and when a rising equity glide path can be beneficial. The conversation highlights why retirees may need a more flexible and adaptive approach rather than relying on traditional rules of thumb. Takeaways Chapters 00:00 Introduction to Retirement Planning Themes 06:11 Understanding the 4% Rule and Withdrawal Strategies 12:03 Exploring Sequence of Return Risk 17:59 Discretionary vs. Essential Spending in Retirement 24:13 The Role of Dividend Income in Retirement 30:06 Rising Equity Glide Path Strategies 36:04 The Shift from Traditional Drawdown Paradigms Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire With Style, Alex and Wade answer listener questions on key retirement planning topics. They discuss penalty-free withdrawals from 401(k)s, the role of Roth conversions for both younger savers and retirees, and the distinctions between qualified and non-qualified accounts. They also examine how long-term demographic trends may influence market expectations and investment strategies in the decades ahead. Takeaways Chapters 00:00 Introduction and Overview 03:01 Understanding the Rule of 55 10:56 Roth Conversions: Strategies and Timing 21:34 Tax Implications of Withdrawals 25:26 Demographic Trends and Market Predictions Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire With Style, Wade Pfau and Alex Murguia talk with Beth Pinsker, author of My Mother’s Money, about the practical and emotional realities of financial caregiving and estate settlement. They discuss why clear documentation matters, how probate works, and where family disputes over inheritance often begin. The conversation also covers the roles of wills, trusts, and beneficiary designations, along with the emotional weight that comes with managing a loved one’s affairs. Beth shares personal insights that highlight the value of proactive planning and open communication to help families avoid conflict and ensure a smoother transition of assets. Takeaways Chapters 00:00 Introduction to Estate Planning and Legacy 01:53 Understanding Estate Planning and Its Importance 06:35 Family Disputes and the Role of Executors 08:58 Common Sources of Family Disagreements 13:39 Wills vs. Trusts: Key Differences Explained 20:33 The Importance of Beneficiary Designations 27:52 Navigating Property Settlements and Emotional Challenges 34:16 Final Thoughts on Financial Caregiving and Legacy Planning Links Find links to order Beth Pinkser’s book, “My Mother’s Money,” at www.bethpinsker.com Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire With Style, Wade and Alex talk with Beth Pinsker, author of My Mother’s Money, about the realities of financial caregiving. Beth shares her experience managing her mother’s finances during a health crisis, underscoring the value of preparation and clear legal documentation. The discussion covers the importance of establishing power of attorney, the practical challenges of budgeting for someone else, and the emotional strain that arises when court involvement becomes necessary. The episode offers listeners a straightforward look at why financial caregiving matters and what steps can help families prepare before a crisis hits. Takeaways Chapters 00:00 Introduction to Financial Caregiving 01:45 The Journey Begins: Beth's Personal Experience 04:11 Preparing for the Inevitable: Legal and Financial Steps 10:21 The Importance of Power of Attorney 16:20 Navigating Financial Institutions 25:32 Reverse Engineering the Budget 30:34 The Court Experience and Its Implications Links Find links to order Beth Pinkser's book, "My Mother's Money," at www.bethpinsker.com Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode, Alex and Wade unpack the complexities of Social Security claiming strategies, weighing the benefits of delaying versus claiming early. They examine key financial considerations such as survivor benefits, tax planning opportunities, and the psychological factors that shape these decisions. The discussion also highlights how the Retirement Income Style Awareness (RISA) tool can help align Social Security choices with individual retirement preferences. Ultimately, the episode underscores the long-term financial impact of claiming decisions. Takeaways Chapters 00:00 Introduction and Context 00:56 The Case for Delaying Social Security 12:07 Understanding RISA and Claiming Early 16:06 Psychological Factors in Claiming Decisions 24:38 Understanding Technical Liquidity and Early Claiming 26:18 Medical Considerations for Early Claiming 28:50 Real-Life Implications of Claiming Strategies 31:11 Legitimate Reasons for Claiming Early 34:22 The Role of Discount Rates in Claiming Decisions 39:20 Dependent Benefits and Claiming Early 42:04 Concerns About Social Security's Future 45:08 Final Thoughts on Claiming Strategies Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

This is the third and final installment of our discussion with Brett Layton, which explores key updates to tax laws, including estate tax limits, the alternative minimum tax, expanded uses of 529 plans, new “Trump accounts” for children’s savings, and changes to clean energy credits and business taxes. It emphasizes the importance of understanding these updates for effective financial and tax planning. Takeaways Chapters 00:00 Estate Tax Changes and Implications 07:08 Alternative Minimum Tax and Its Impact 11:25 Expanded 529 Plan Eligibility 17:19 Introduction of Trump Accounts 29:42 Clean Energy Credits and Business Tax Changes Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

The conversation explores key tax topics, including below-the-line deductions, charitable contributions, mortgage insurance deductions, gambling taxes, and the taxation of Social Security benefits. It also discusses potential changes to Affordable Care Act subsidies and highlights the importance of proactive tax planning to navigate these complexities. Takeaways Chapters 00:00 State and Local Tax Deductions: Changes and Challenges 03:59 Roth Conversions and Tax Brackets 05:45 Below-the-Line Deductions and Itemization 06:42 Charitable Donations and Tax Changes 12:21 Mortgage Insurance Premiums and Deductions 15:20 Gambling Losses and Tax Implications 25:40 Social Security Benefits and Taxation 30:59 Affordable Care Act Subsidies and Changes Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire with Style, hosts Alex Murguia and Wade Pfau are joined by CPA Brett Leyton to discuss the new tax provisions introduced in the One Big Beautiful Bill Act. The conversation covers essential topics such as federal income tax brackets, standard deductions, and various new below-the-line deductions that can benefit taxpayers, especially seniors. The episode delves into the complexities of tax planning, emphasizing the importance of strategic planning in light of the new legislation. Listeners will gain insights into how these changes can impact their financial planning and tax strategies moving forward. Takeaways Chapters 00:00 Introduction to Tax Planning and the One Big Beautiful Bill Act 02:54 Understanding Federal Income Tax Brackets 06:11 New Below-the-Line Deductions: Age 65 Plus 09:07 Qualified Business Income and Its Implications 11:51 Exploring Qualified Tips and Overtime Pay Deductions 14:59 Auto Loan Interest Deductions Explained 17:45 Charitable Contributions for Standard Deduction Filers 21:03 State and Local Tax Deductions: Changes and Challenges Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

Welcome to a milestone episode of Retire With Style! In this celebratory 200th installment, Wade and Alex take a break from the usual deep dives into retirement planning to reflect on their journey so far, from a hesitant start to a full-blown podcast and lifestyle brand. They revisit some of the most popular episodes, listener feedback (the good, the bad, and the hilarious), and the evolving purpose behind the podcast. They also share future plans, new content arcs, and maybe even a little pickleball-inspired merch talk. Whether you’re a longtime listener or brand new to the show, this episode offers a fun, personal look behind the mic. Takeaways: 200 episodes deep... and still talking: Wade and Alex never expected the show to grow into a pillar of their content strategy, but batching episodes, a sprinkle of consistency, and a lot of community support helped them get here. YouTube is growing fast: While most listeners tune in via audio, the YouTube channel is becoming a hub for retirement planning visuals and deeper engagement. Pickleball paddles and lifestyle branding: Retire With Style is now more than just a podcast — it's a vibe. From merch to community giveaways, the show is embracing its role as the lighter side of serious retirement talk. Top-performing content = tax planning: Episodes focused on Roth conversions, sustainable withdrawal strategies, and RMDs continue to dominate in views and downloads. Most-loved guests: Bill Bengen (with a whopping 83% in the listener poll) and Mary Beth Franklin top the charts. Both brought serious knowledge and fresh perspectives to the show. Feedback is fuel (and comedy): The hosts share some of the most memorable — and brutally honest — listener reviews. Spoiler: Alex laughs too much, Wade doesn’t talk enough... and they're fine with that. What’s next? Upcoming episodes will feature deep dives into retirement tax law changes, a fresh look at the RISA framework, and possibly another arc on emotional and behavioral aspects of retirement planning. Chapters 0:00: Welcome to Episode 200! A Sitcom-style Celebration 2:00: The Reluctant Start: How the Podcast Was Born 5:00: From Podcast to Lifestyle Brand (Merch + Pickleball Paddles!) 11:00: Why the Laid-back Format Works 14:00: Retire With Style: The Unexpected Centerpiece 17:00: Most Watched Episodes of the Year 20:00: Tax Planning Still Reigns Supreme 25:00: Standout Guest Appearances: Bengen, Franklin & More 35:00: Listener Comments: The Roast of Alex (with Wade’s Glee) 44:00: Positive Feedback... Yes, It Exists 47:30: What the Podcast Has Meant to the Hosts 53:00: Poll Results: What Do Listeners Want? 55:00: Merch Giveaway Winners Announced 58:00: What’s Coming in the Next 200 Episodes Links Free Retirement Researcher Webinar – Happening This Week! Don’t miss this special opportunity to join Wade Pfau for a free live webinar: "Getting Started Now: Crucial Steps to Take When Retiring" You’ll learn how to avoid common pitfalls, make smarter decisions with Social Security, taxes, and investments, and get clarity on what really matters as you transition into retirement. Choose the date that works best for you: Spots are limited, so be sure to register now at retirewithstyle.com/podcast The Retire With Style Merch Store Is Live! You asked (probably), and we delivered! The official Retire With Style merch store is now open for business! Check out the gear featured in this episode and grab your own swag at retirewithstyle.com/shop. From mugs to mindset, we've got what every stylish retiree needs. 🎾 And yes… pickleball paddles are coming soon. Stay tuned. Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has...

In part two of their conversation, financial advisors Alex Murguia and Dan Haylett explore the challenges of financial advising, focusing on client objections, the importance of listening, and integrating emotional well-being into financial planning. They discuss strategies for engaging clients, the role of structure in retirement, and the risks that come with a lack of it. Dan also shares insights from his book, The Retirement You Didn't See Coming, highlighting the need for a holistic approach that addresses both the financial and non-financial sides of retirement. Takeaways Chapters 00:00 The Importance of Open Conversations 00:58 Handling Client Objections 04:36 Creating Structure in Retirement 09:40 The Risks of Lack of Structure 14:05 The Interconnection of Money and Emotions 15:40 The Structure of 'The Retirement You Didn't See Coming' Links Are you an Advisor? Ready to take your prospect and client conversations to the next level? Join Wade Pfau and Alex Murguia for a free webinar, “How to Close Prospects & Increase Wallet Share.” You’ll see how the RISA framework streamlines meetings, builds trust faster, and creates a scalable process for long-term growth Two live sessions available: October 8 or 9, from 1:00–2:30 PM ET Visit risaprofile.com/podcast to register now. Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

In part one of their conversation with Dan Haylett, Wade Pfau and Alex Murguia explore the human side of retirement planning. They emphasize that financial planning is only part of the equation and discuss the emotional and psychological challenges retirees face. Dan introduces the five pillars of a thriving retirement: purpose, identity, relationships, structure, and well-being. The discussion highlights how finding new sources of meaning and connection after leaving a career is essential for a fulfilling retirement. Takeaways Chapters 00:00 Introduction to Retirement Planning 01:10 The Human Side of Retirement 05:09 Day 182: The Reality of Retirement 08:07 The Five Pillars of a Thriving Retirement 11:06 Finding Purpose in Retirement 15:11 Identity Crisis in Retirement 20:16 The Impact of Work Relationships 28:18 Facilitating Purpose in Retirement 31:52 Navigating Life's Challenges in Retirement 34:07 The Importance of Open Conversations Links Are you an Advisor? — Ready to take your prospect and client conversations to the next level? Join Wade Pfau and Alex Murguia for a free webinar, “How to Close Prospects & Increase Wallet Share.” You’ll see how the RISA framework streamlines meetings, builds trust faster, and creates a scalable process for long-term growth Two live sessions available: October 8 or 9, from 1:00–2:30 PM ET Visit risaprofile.com/podcast to register now. 🎉 We’re About to Hit 200 Episodes! 🎉 Can you believe it? Retire With Style is closing in on our 200th episode, and we want you to be part of the celebration! Whether you’ve been with Wade and Alex since episode one or just joined the party, this milestone wouldn’t be possible without listeners like you. Help us mark the occasion by sending in a short video or voice note to share your favorite moment, biggest takeaway, or just some kind words for the guys. We’re also running a special giveaway to thank our community — and yes, there will be prizes. 👉 Be a part of Episode 200 by visiting https://retirewithstyle.com/join-episode-200 to join the celebration! Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

In this conversation, Wade Pfau, Alex Murguia and Bill Bengen discuss various aspects of retirement planning, focusing on risk management, asset allocation, and the implications of market conditions on withdrawal rates. Bengen shares insights on adjusting the traditional 4% rule based on current market valuations and inflation, emphasizing the importance of a diversified portfolio and the role of annuities. The discussion also covers the significance of sequence of returns risk and the potential benefits of rising equity glide paths in retirement strategies. Takeaways Chapters 00:00 Replacing Micro Caps in Portfolios 00:25 Risk Management and Asset Allocation 01:32 The Role of Third-Party Advice in Portfolio Management 02:50 Navigating Market Swings and Timing Investments 03:41 Inflation and Asset Allocation Strategies 05:27 International vs. Domestic Equity Allocation 07:04 Historical vs. Projected Data in Retirement Planning 12:18 Understanding Sequence of Returns Risk 14:18 Adjusting Withdrawal Rates Based on Market Conditions 15:45 Exploring Rising Equity Glide Paths 23:29 Finding the Right Equity Allocation for Retirement 27:29 Adjusting Withdrawal Rates for Inflation and Market Valuations Links Get Bill Bengen’s New Book – A Richer Retirement Want to dive deeper into the research behind the 4% rule and how retirement income planning has evolved? Bill Bengen’s new book, A Richer Retirement, is now available—visit bengenfs.com to learn more and get your copy. 🎉 We’re About to Hit 200 Episodes! 🎉 Can you believe it? Retire With Style is closing in on our 200th episode, and we want you to be part of the celebration! Whether you’ve been with Wade and Alex since episode one or just joined the party, this milestone wouldn’t be possible without listeners like you. Help us mark the occasion by sending in a short video or voice note to share your favorite moment, biggest takeaway, or just some kind words for the guys. We’re also running a special giveaway to thank our community — and yes, there will be prizes. 👉 Be a part of Episode 200 by visiting https://retirewithstyle.com/join-episode-200 to join the celebration! Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this live Q&A session, Wade Pfau, Alex Murguia, and Bill Bengen discuss the intricacies of safe withdrawal rates in retirement, focusing on the relevance of the 4% rule, the impact of inflation, and the importance of investment strategies. They explore various topics including the significance of account types, the risks associated with stock picking, and the necessity of adjusting withdrawal rates based on market conditions and personal circumstances. The conversation emphasizes the need for a tailored approach to retirement planning, considering factors like tax efficiency and rebalancing strategies. Takeaways Chapters 00:00 Introduction to Safe Withdrawal Rates 05:30 Understanding Account Types and Withdrawals 09:25 Small Caps and Future Performance 15:10 Annual Review of Withdrawal Plans 19:36 Immediate Actions in High Inflation 21:22 Customizing Withdrawal Strategies 22:55 Tax Considerations in Withdrawals 23:44 Withdrawal Strategies from a Multi-Fund Portfolio 26:45 Replacing Micro Caps in Portfolios Links Get Bill Bengen’s New Book – A Richer Retirement Want to dive deeper into the research behind the 4% rule and how retirement income planning has evolved? Bill Bengen’s new book, A Richer Retirement, is now available—visit bengenfs.com to learn more and get your copy. 🎉 We’re About to Hit 200 Episodes! 🎉 Can you believe it? Retire With Style is closing in on our 200th episode, and we want you to be part of the celebration! Whether you’ve been with Wade and Alex since episode one or just joined the party, this milestone wouldn’t be possible without listeners like you. Help us mark the occasion by sending in a short video or voice note to share your favorite moment, biggest takeaway, or just some kind words for the guys. We’re also running a special giveaway to thank our community — and yes, there will be prizes. 👉 Be a part of Episode 200 by visiting https://retirewithstyle.com/join-episode-200 to join the celebration! Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire with Style, Wade Pfau and Alex Murguia talk with William Bengen, pioneer of the 4% rule in retirement planning. They explore the rule’s evolution, how inflation and market valuations shape sustainable withdrawals, and Bengen’s current recommendations. The discussion highlights the role of asset allocation, the importance of withdrawal strategies, and why ongoing monitoring is essential for a secure retirement. Takeaways Chapters 00:00 Introduction to Retirement Income Planning 01:14 The Birth of the 4% Rule 03:03 Understanding Withdrawal Rates 09:15 The Impact of Inflation on Withdrawals 12:45 Market Valuation and Its Effects 18:07 Current Withdrawal Rate Recommendations 21:10 Asset Allocation Strategies 24:04 Free Lunches in Investment Strategies 27:34 Key Takeaways from A Richer Retirement 31:15 Future Research Directions Links Join Us for RWS Live! with Bill Bengen! We’re going live on Thursday, September 11th at 1:00 PM ET on the Retire With Style YouTube channel! You’ll have the chance to ask Bill Bengen—creator of the 4% rule—your retirement questions live in the chat. Search “Retire With Style” on YouTube, or click this link to join us directly: https://retirewithstyle.com/rws-youtube-live Don’t forget to subscribe so you get notified when we go live! 🎉 We're About to Hit 200 Episodes! 🎉 Can you believe it? Retire With Style is closing in on our 200th episode, and we want you to be part of the celebration! Whether you’ve been with Wade and Alex since episode one or just joined the party, this milestone wouldn’t be possible without listeners like you. Help us mark the occasion by sending in a short video or voice note to share your favorite moment, biggest takeaway, or just some kind words for the guys. We’re also running a special giveaway to thank our community — and yes, there will be prizes. 👉 Be a part of Episode 200 by visiting https://retirewithstyle.com/join-episode-200 to join the celebration! Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this conversation, Alex Murguia and Wade Pfau explore strategies for retirement planning, including hedging against inflation, using break-even analysis in Social Security decisions, and evaluating annuities for retirement income. They also cover the implications of Roth conversions and the reverse equity glide path strategy for managing investments. The discussion highlights the importance of understanding how different financial tools contribute to a comprehensive retirement plan. Takeaways Chapters 00:00 Market Valuations and Investment Strategies 00:00 Inflation Hedging: TIPS vs. Equities 04:23 The Break-Even Analysis of Social Security 09:54 Annuities and Inflation Protection 14:01 Roth Conversions and Tax Strategies 20:01 Social Security Strategies for Couples 26:58 Retirement Income Challenges and Strategies Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this conversation, Wade Pfau and Alex Murguia discuss retirement planning topics including market downturns, buffer assets, demographic trends, and emerging products like tontines and buffered ETFs. They highlight how historical market performance shapes future expectations and emphasize the role of strategic asset allocation in retirement income planning. Takeaways Chapters 00:00 Introduction and Technical Setup 03:58 Market Downturns and Retirement Planning 12:59 Buffer Assets in Retirement 19:09 Tontines and Modern Financial Solutions 23:06 Combining Safety and Growth in Retirement Income 29:07 Buffered ETFs and Risk Diversification 33:31 Retirement Income Perspectives 34:06 Market Valuations and Investment Strategies Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire with Style, Alex Murguia and Wade Pfau dive into key retirement planning topics, including sequence risk, the 4% rule, withdrawal strategies, and bond yields. They highlight the importance of a comprehensive financial plan that accounts for asset allocation, tax considerations- such as those related to TIPS and annuities- and the role of dynamic, risk-based guardrails. The discussion underscores how retirement income strategies must adapt over time to meet changing needs. Takeaways Chapters 00:00 Introduction and Conference Insights 02:11 Exploring Sequence Risk and Spending Strategies 03:35 Understanding the 4% Rule and Bond Yields 10:19 Fixed Percentage Withdrawal Strategies 14:06 Dynamic Risk-Based Guardrails for Spending 20:06 The Role of Financial Planning in Retirement 27:18 Tax Implications of TIPS and Asset Location 29:56 Evaluating Stock-Bond Allocation Strategies Links Join Our Next Live Q&A Session! We’re hosting our next Retire With Style YouTube Live Q&A on Monday, August 25th at 2:00 PM ET. Wade and Alex will be answering your retirement planning questions live! ✅ Submit your question in advance at retirewithstyle.com ✅ Or join us live and ask your question in the chat Come be part of the conversation- your questions often inspire future episodes! 📺 Subscribe to the Retire With Style YouTube Channel to be notified when we go live! Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it! The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips