Even the inventor of the 4% rule (Bill Bengen), which theorizes that withdrawing 4% in year one and then adjusting each year for inflation your retirement savings will last you a lifetime, is agreeing that we may need to take a more conservative approach given stock market volatility and soaring inflation. “The problem is, there’s no precedent for today’s conditions,” Bengen told The Wall Street Journal. Given the challenges of making forecasts right now, Bengen recommends cutting spending, if possible.
