A principal at Cornerstone Wealth Advisors, Mr.Guyton is best-known among financial planning academics as the adviser who popularized the idea of dynamic income withdrawals. This concept allows for withdrawal rates in retirement to be as high as 5.5% during bull markets, with the understanding that the rate will come down when markets do. Contrary to what some advisers may say, curtailing discretionary spending isn’t an unnatural adjustment for retirees, Mr. Guyton says. In fact, clients are open to the idea of tweaking their expenses in response to dismal market performance.
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