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Mind Fees in Your Withdrawal Rate

Retirees should be aware of how costs can eat into their portfolio balances, and consider making withdrawal adjustments every year, says Morningstar's David Blanchett.

How to set a sustainable withdrawal rate is a crucial topic for retirees. With bond yields as low as they are, a recent study by David Blanchett, Michael Finke, and Wade Pfau suggests that a 3% withdrawal rate--rather than the so-called 4% rule--will help improve retirees' probability of success. Click here to read the paper in its entirety.

Christine Benz: Hi, I’m Christine Benz for Morningstar.com. I'm here at the Morningstar Ibbotson Conference, and I had the opportunity to sit down with David Blanchett. We discussed withdrawal rates in retirement, a topic that we have discussed in previous Morningstar videos.

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