Retirees and Utility Maximization

The online section of Financial Advisor magazine has published my article, "Retirees and Utility Maximization." I mention that title because I've been using the title a lot in the past, though the editors changed the title of the published version to "New Research Challenges the 4% Rule." 


Here is the link to the article.


In the article I try to explain the findings and the importance of Duncan Williams and Michael Finke's article, “Determining Optimal Withdrawal Rates: An Economic Approach” from the Fall 2011 issue of Retirement Management Journal.

Please have a look.

A few days ago, a wrote a post, "Are high failure rates acceptable for retirees?" which is really a follow-up to this Financial Advisor piece.


I think these findings provide an important new perspective about retirement planning.