I’ve posted Entry #207 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Who’s Afraid to Know the True Safe Withdrawal Rate?
Juicy Excerpt: There’s a sense in which that reality renders Wade’s report more scary than it would had he told the story as bluntly as John Walter Russell and I did a number of years back. He tells us the sustainable spending rate, not the safe withdrawal rate. Not because the safe withdrawal rate cannot be calculated accurately. Because he doesn’t believe that we could bear to hear the accurate numbers.
The most scary reality of all is that the 11 years of reactions that I have seen to the publication of my own retirement calculator shows that he is right.