Ramsay getting blasted over 8% withdrawal rate

LOL--Saw some relatives & few clients that were set up with 8% & 10% withdrawal rates in 1999.

The 8% withdrawal rate people were out of money by 2009(10 years) & those at 10% were out of money in 2007 (8 years).

one retired early at age 57 with $1M & it was all gone in by the time he was 67 & he went back to work for a fraction of the income. Worst part was he paid some tax penalties for taking money prior to age 59 1/2, also took SS early at 62, thus locking him & his wife in at the lowest possible forever SS checks.

Had he just worked 2-3 more years or part time & delayed withdrawals with a 4-6% WD rate, He would have collected $50,000 a year from 2003 to present ($1M --his original investment in S&P 500) & still had over $970000 still today. Not to mention delaying SS 2-3 years would have also boosted his lifetime SS check by 24% for as long as he or his wife lived.

Those 1990 pre-bubble returns got too many brokers & consumers drinking kool aid & sounds like Ramsey might think everyday have the money to lose .