Financial planning for retirement has shifted, with experts like Suze Orman recommending a lower withdrawal rate of 3% rather than the traditional 4%. The 4% rule, previously thought to ensure savings could last 30 years, is now viewed as too aggressive and potentially dangerous in today's financial climate. Choosing an appropriate withdrawal rate should ideally be done with the guidance of a financial advisor, ensuring that retirees can safely manage their savings without risking their financial stability.
For years, experts recommended using the 4% rule to manage retirement savings. But if you ask financial guru Suze Orman, she'll likely advise you against it, and for good reason.
Orman was recently quoted as saying, 'It doesn't work anymore. I think it's very dangerous' in the context of the 4% rule.
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