Life Money Balance® Podcast
The Life Money Balance® podcast helps you “let your life lead your money, not your money lead your life” and engage with your journey to create your life's design. The podcast uses compelling conversations that combine money psychology with personal finance topics to improve your well-being and achieve your life aspirations.
Your host Dr. Preston D. Cherry (“Dr. Cherry”), interviews guests and performs solo shows to provide an emotion-safe space where real people engage in real talk and share authentic moments. Let’s chop! Learn more by following @drprestoncherry, Certified Financial Planner, Certified Financial Therapist, University Professor, and Founder & President of Concurrent Financial Planning, www.concurrentfp.com.
Life Money Balance® Podcast
4% Rule Guru Bill Bengen Reveals How to Maximize Your Retirement Income!
In this episode, Dr. Preston Cherry talks about retirement income, breaking down the famous 4% rule with its creator, Bill Bengen, renowned for his groundbreaking work in retirement planning.
Key Points:
1. The 4% rule should be seen as a flexible guideline rather than a strict rule, adaptable to individual retirement timelines and economic conditions.
2. Creating a diversified investment portfolio is crucial for managing risks and optimizing returns.
3. Continual assessment and adjustment of the retirement plan are essential.
4. Implementing strategies like guardrails allows retirees to adjust their withdrawal rates in response to market and inflation changes, ensuring sustainability of their retirement income over the long term.
5. Building and sticking to a retirement plan requires psychological resilience, especially during market downturns.
Want to learn more? Connect with us below!
Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'
Sign up for 'Make Your Finances Flourish' Live Workshop!
Get a Free Finances Guide and Check Out Financial Planning Services
Receive Our Free Personal Finance Newsletter
Dr. Preston D. Cherry