"Although the 4% rule has come to be relied on by many in the financial services world, we need to remember that it was an iteration of prior thought based on better assumptions. New research is challenging those assumptions and coming to even more conservative results."
And Ron's response included:
"In the age of computers, professional advisors will use financial planning software to find the proper withdrawal strategies, take into account the suitable variables, and stress test the plan. Eventually, it will be the case that 4% will be the proper Safemax for a client, but that will be the exception, not the rule."
Read the full response from both Joe and Ron in ThinkAdvisor.