#216: It’s September! If you’ve been listening to the show for the past few months, then you know that I’m on what I’ve dubbed my September Sabbatical, in which I’m taking a break from podcast production and traveling the globe. In light of that, we’re digging through the archives and airing some of my favorite interviews on the show, in between airing interviews I’ve done on other podcasts.  Welcome to another episode from our archives! This one was recorded in March 2018, and Dr. Wade Pfau had a ton of insight into the four percent rule that so many of us are concerned with. First, here’s a brief history of how the four percent rule came to be.  In 1994, William Bengen decided to look at 30-year timespans throughout U.S. History, beginning with the year 1926.  He worked under the assumption that a retiree held 50 percent stocks (in the form of S&P 500 Index), and 50 percent bonds (intermediate-term government bonds).  He looked at two things: the worst-case scenario, and how much an investor could sustainably withdraw from their portfolio under that worst-case scenario.  The year 1966 ended up being one of the worst to retire during, and an investor could withdraw 4.15 percent during the first year, and 4.15 percent, adjusted for inflation, every subsequent year.  That is how the 4 percent rule came to be.  Dr. Wade Pfau, a Professor of Retirement Income at The American College of Financial Services, argues that the 4 percent rule may not be the end-all-be-all we think it is. He voices his hesitations and explains how you can determine how much you can afford to spend in retirement on this episode.  Enjoy! P.S. - We’ll return to our regular podcast production schedule in October!  For more information, visit the show notes at http://affordanything.com/216  Learn more about your ad choices. Visit podcastchoices.com/adchoices

#214: It’s September! If you’ve been listening to the show for the past few months, then you know that I’m on what I’ve dubbed my September Sabbatical, in which I’m taking a break from podcast production and traveling the globe. In light of that, we’re digging through the archives and airing some of my favorite interviews on the show, in between airing interviews I’ve done on other podcasts. I’m super excited to share an interview I did with Brad and Jonathan of ChooseFI back in December 2018. It was fun to have the tables turned, and Brad and Jonathan left no stone unturned in their interview with me. If you ever wanted to know my origin story, including where my love for travel comes from, where my desire for freedom came from, and how I combined both, then give this interview a listen. We talk about everything from: How travel wasn’t a big part of my life until college How I prefer to travel Why the idea of mini-retirements is so important Making the transition from freelancing to having my own business and giving up that business in favor of focusing on Afford Anything Dealing with imposter syndrome Overcoming and working with a scarcity mindset What financial independence means to me The importance of self-care Brad and Jonathan are two of the most thorough interviewers I’ve ever recorded with, and this interview was a lot of fun. If you want to learn more about them, I returned the favor by interviewing them on this show on this episode https://www.choosefi.com/105-you-can-afford-anything-but-not-everything-paula-pant Thanks to Brad and Jonathan and ChooseFI for giving us permission to air this interview! P.S. - We’ll return to our regular podcast production schedule in October! For more information, visit the show notes at https://affordanything.com/episode214 Learn more about your ad choices. Visit podcastchoices.com/adchoices