Speakers
Jonathan Harrington, CFP®, MSFP, MST
Evan Marquis, CFP®, EA
About this event
You may have heard of the 4% rule, but where did it come from and how does it work? The 4% rule is a retirement withdrawal guideline based on historical market research. It generally involves withdrawing 4% of an investment portfolio in the first year of retirement and then adjusting that dollar amount annually for inflation, with a 30-year retirement period in mind. But the original research was published in 1994, so how does it hold up today?
In this webinar, Jonathan C. Harrington, CFP®, MSFP, MST will discuss where the rule came from, how the research has evolved over time, and the considerations involved when applying rules of thumb like this to retirement planning.
In this session, we cover:
• Bill Bengen, the financial planner whose research introduced the 4% rule
• The calculations, historical data, and assumptions behind the original research
• How the research has evolved since 1994
• Factors to consider when evaluating the 4% rule as part of a retirement plan
Better financial decisions start with understanding the rules and frameworks that shape them.
This presentation is for educational purposes only and is not investment, tax or legal advice. It summarizes third-party research, including William Bengen’s A Richer Retirement (2025) and his 1994 Journal of Financial Planning article, Morningstar’s State of Retirement Income (December 2025) and Vanguard’s Principles for Retirement Income (2026). We believe these sources to be reliable but do not guarantee their accuracy.
Withdrawal-rate research relies on historical or hypothetical returns. Past performance does not guarantee future results, and no withdrawal rate is safe in all circumstances. Any rate discussed here is a general benchmark, not a recommendation for any individual. Please consult us before acting on anything in this deck.
Event Contact
Disclaimer:
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. The views expressed in this commentary are subject to change based on market and other conditions. These documents may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.
All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
Milestone Financial Planning, LLC (“Milestone”) is a fee-only financial planning firm and registered investment advisor headquartered in Bedford, NH. Registration does not imply a certain level of skill or training. Milestone works with clients on an ongoing, long-term basis, providing financial planning, tax planning, retirement planning, and investment management services. Fees are based on assets under management and may include a financial planning fee. Milestone receives no commissions or referral fees and, as a fiduciary, is required to act in clients’ best interests. Advisory services are offered only where Milestone and its representatives are properly licensed or exempt from licensure. More information, including fees and principal risks, is available in Milestone’s Form ADV Part 2A. For help with your investments or financial planning, contact one of our fee-only advisors.
