Is 4% Withdrawal Rate Still a Good Retirement Rule of Thumb?

The general guideline of withdrawing no more than 4% of your portfolio each year during retirement has come under fire as of late. This guideline was the result of a study conducted almost 30-years ago by William Bengen, at a time when it was believed that 5% was a safe withdrawal rate. In the study William determined that 5% was too risky, and proposed the change to 4%.

But is 4% still a good rule of thumb, as Bengen concluded? I believe the answer is "probably." The reality in retirement is a little more complex, however, so it takes a little more planning than just using a rule of thumb to help ensure your peace of mind