About this episode
In this episode: the "average" withdrawal, Karsten's strategy, Fritz's strategy, fixed withdrawal rates, the bucket strategy, and refilling. Preparing for retirement can look different for all on the journey to FI. All of our goals differ, but we are still in the mindset of positioning ourselves for the coming years. This week we are having a face-off between returning guests Karsten and Fritz, as they discuss their own receptive drawdown strategies, their advantages, and how you can best prepare yourself mentally and financially for your retirement. While a large part of preparing for retirement means saving, that does not mean you should be afraid to spend. Even in retirement, there are strategies that can allow you to not only spend comfortably within your means, but also spend confidently! Fritz & Karsten: Fritz's Website: theretirementmanifesto.com Karsten's Website: earlyretirementnow.com Timestamps: 1:35 - Introcution 2:09 - Karsten's Strategy 6:05 - Fritz's Strategy 13:28 - Fixed Withdrawal Rates 18:08 - Your Retirement Spending Mentality 23:01 - The Source Of The Bucket Strategy Debate 30:46 - Refilling The Buckets 40:40 - The Cheap Gimmick 45:13 - The Importance Of Rebalancing 51:03 - The Key Takeaways/The "Average" Withdrawal 59:06 - Conclusion Resources Mentioned In Today's Episode: Our Retirement Investment Drawdown Strategy The Tail End "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins How to Calculate Your Safe Withdrawal Rate without using Simulations Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance