"The Yin and Yang of Retirement Income Philosophies," by Wade Pfau and Jeremy Cooper is a fantastic review of the range of retirement income strategies. Non-technical, thorough, impartial, referenced, it assesses the pros and cons of each approach, starting with the 4% rule classic at one end of the spectrum to the Managed DC plan exemplified by the UK's new NEST scheme at the other end.
Their conclusion: "While neither a probability-based nor a safety-first approach is definitively right or wrong, different people will align more easily with one or the other."
Friday, 12 December 2014
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