Forget the 4% rule: Why one Wall Street CEO thinks Americans should be even more conservative with spending in retirement

John Montgomery, CEO of Bridgeway Capital Management, advises retirees to adopt a more conservative spending strategy than the traditional 4% rule. He recommends withdrawing 2.8% of a portfolio's value, measured from the market's last major peak. Montgomery suggests having 90% of a portfolio in stocks to support this approach. His advice contrasts with recent comments from Bill Bengen, the creator of the 4% rule, who suggested retirees could safely spend more.

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