{"podcast":{"title":"Retire With Style","slug":"retire-with-style-5225834","podcast_index_feed_id":5225834,"rss_url":"https://feed.podbean.com/retirewithstyle/feed.xml","website_url":"https://retirewithstyle.podbean.com","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/13684325/Retire_with_Style_Cover87fom.jpg","author":"Wade Pfau & Alex Murguia","episode_count":100,"summary":"The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with. Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.","last_synced_at":"2026-07-22T08:21:31.121809+00:00","page_url":"https://stenobird.com/podcast/retire-with-style-5225834"},"episode":{"title":"Episode 213: Retirement Without Guesswork: The Four L’s and Funded Ratio Strategy","slug":"episode-213-retirement-without-guesswork-the-four-l-s-and-funded-ratio-strategy","published_at":"2026-01-27T20:38:04+00:00","page_url":"https://stenobird.com/podcast/retire-with-style-5225834/episode-213-retirement-without-guesswork-the-four-l-s-and-funded-ratio-strategy","show_page_url":"https://stenobird.com/podcast/retire-with-style-5225834","url":"https://retirewithstyle.podbean.com/e/episode-213/","audio_url":"https://op3.dev/e/mcdn.podbean.com/mf/web/bew9hhgnjcpmaghn/Episode_213_Retirement_Without_Guesswork_The_Four_L_s_and_Funded_Ratio_Strategy7egim.mp3","summary":"In this conversation, Wade discusses the essential financial goals of retirement, encapsulated in the concept of the four L’s: longevity, lifestyle, legacy, and liquidity. He emphasizes the importance of assessing financial preparedness through the funded ratio, which compares assets to liabilities. The discussion also covers safe withdrawal rates, suggesting a rate of 4.5% based on the funded ratio approach. Finally, Wade highlights the significance of implementing variable spending strategies to enhance retirement enjoyment and financial security. Takeaways The four L’s of retirement are longevity, lifestyle, legacy, and liquidity. Longevity refers to essential expenses that must be covered regardless of lifespan. Lifestyle expenses are discretionary and enhance quality of life in retirement. Legacy goals involve what one wishes to leave for the next generation. Liquidity is crucial for managing unexpected expenses in retirement. The funded ratio helps assess financial preparedness for retirement. A funded ratio of 100% or higher indicates being on track for retirement. The safe withdrawal rate based on the funded ratio is 4.5%. Variable spending strategies can allow for higher initial withdrawal rates. The funded ratio approach provides more confidence in spending during retirement. Chapters 00:00 The Four L’s of Retirement Goals 06:57 Assessing Financial Preparedness for Retirement 16:27 Understanding Monte Carlo Simulations in Retirement Planning 19:52 The Safe Withdrawal Rate: A Critical Discussion 24:02 Variable Spending Strategies in Retirement 28:05 The Impact of Taxes and Time Horizon on Withdrawal Rates Links 📘 New Release: The Retirement Planning Guidebook (3rd Edition) Wade Pfau’s must-read Retirement Planning Guidebook just got even better. The 3rd Editio…","meta_description":"In this conversation, Wade discusses the essential financial goals of retirement, encapsulated in the concept of the four L’s: longevity, lifestyle, legac…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2012,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/retire-with-style-5225834/episodes/episode-213-retirement-without-guesswork-the-four-l-s-and-funded-ratio-strategy/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/retire-with-style-5225834/episode-213-retirement-without-guesswork-the-four-l-s-and-funded-ratio-strategy.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}