When people talk about retirement, most conversations revolve around money — but what about what comes after the paychecks stop?
In our latest Ideas by Mike™ Podcast, we sit down with Dr. Riley Moynes, author of The Four Phases of Retirement, to unpack the emotional and psychological journey that every retiree goes through — and why so many struggle to find meaning once the “vacation” phase fades.
William Bengen retirement withdrawal strategies have shaped how millions plan for retirement. Known as the creator of the famous 4% Rule, Bengen now reveals new research that challenges the old standard. In this episode of the Ideas by Mike™ Podcast, Mike Milligan, CFP®, asks the key question: is 4% rule still safe in 2025?
Bengen explains why his updated research supports a 4.7% withdrawal rate, when retirees might take even 5.5%, and how diversification, inflation, and market conditions impact retirement success.
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William P. Bengen is the pioneering financial planner who first formulated the now-famous “4 % Rule” for retirement withdrawals and coined the term “SAFEMAX.” With over 30 years of research on maximizing sustainable income in retirement, he’s updated the rule to 4.7 % in his new book A Richer Retirement. Bengen holds a B.S. in Aeronautics & Astronautics from MIT and an advanced degree in financial planning, and runs a website where he shares his charts, tables, and ongoing research.
In this episode, Mike Milligan discusses innovative tax planning strategies that can help individuals and businesses maximize their financial potential. He explores various tax incentives, including the Augusta Rule, advanced strategies like ‘buy, borrow, and die’, and the benefits of Donor Advised Funds and Charitable Trusts.
Additionally, he delves into estate planning tools and the advantages of real estate investments. The conversation culminates in an in-depth look at Puerto Rico’s Act 60, which offers significant tax benefits for residents and businesses. Mike emphasizes the importance of designing a unique financial plan tailored to individual needs and goals.
You’ll discover how to:
Design a financial plan that leverages tax incentives—are you missing hidden opportunities?
Use the Augusta Rule to generate tax-free rental income—have you considered renting your home to your business?
Preserve wealth using the buy, borrow, and die strategy—could borrowing against your assets reduce your taxes?
Optimize charitable giving with Donor Advised Funds—are you maximizing your deductions in high-income years?
Protect family wealth across generations using dynasty trusts—what steps safeguard your legacy?
Offset taxable income through real estate depreciation—are your investments working as hard as you are?
Unlock tax-free growth with the mega backdoor Roth IRA—are you fully using your retirement opportunities?
Save tens of thousands in taxes through Puerto Rico Act 60—might relocating reshape your financial future?
Understand the tax code to create significant savings—how well are you negotiating with the IRS?
Build a unique financial plan for long-term success—how customized is your current strategy?
