Save, save, save – that’s the retirement mantra. But then do you know how to draw down from your pot of money so that you can enjoy Life Two? Relatively little attention has been devoted to this logical conclusion, also known as decumulation. When you have no idea how long you’re going to live, how do you determine the sustainable rate at which to withdraw your money? We sit down with one of the world’s pioneers in this field, Moshe Milevsky (finance professor at York University’s Schulich School of Business), describing the sensible and the less than sensible practices he has encountered. Also, you don’t have to do this alone – later in the show, we discuss what to say with financial professionals and how to share your Life Two plans with those close to you.
This interview was recorded in the summer of 2019.