Journal of Accountancy: Help Clients Achieve Flexible Spending in Retirement (April 22, 2022)

Megan Hart has published an article on the Journal of Accountancy, “Help Clients Achieve Flexible Spending in Retirement”. The article begins as follows:

After decades of saving diligently to build up a strong retirement portfolio, it can be tough to flip the switch when it comes time to stop working, said Oscar Vives, CPA/PFS, a financial planner with PNC Private Bank in Tampa, Fla. Underspending is a common issue — especially early in retirement. “It’s a problem because you end up not enjoying the fruits of the labor you worked so hard to accomplish,” Vives said. At the same time, many people fear running out of money during retirement, especially with inflation a concern.
For more than 25 years, financial advisers and clients have used the 4% rule to help walk this line. (Though more recent research from its creator has shown it’s actually more of a 4.5% rule.) But does the rule still make sense? Vives will examine the topic during his session at AICPA ENGAGE 2022 and discuss the guardrails advisers can use to help ensure their clients can spend with flexibility throughout retirement. Here are a few of his best tips:

Click here to see the full article: “Help Clients Achieve Flexible Spending in Retirement”

Posted by Mallory Wentz, Associate Editor, Wealth Strategies Journal.

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