About this episode

The episode discusses safe withdrawal rates and strategies for spending during retirement, featuring insights from financial planner Thuy Lam.

One of the most common questions I get, and honestly one of the biggest sources of anxiety for anyone nearing financial independence is: "How much can I spend without running out of money once I quit my job and start living off my investments?" It's one thing to see a big number in your investment account; it's another thing entirely to hit the "withdraw" button and start taking money out. Research, and my own experience shows that many Canadians end up underspending. They live a smaller life than they need to simply because they don't have a structured process they can trust. Some blindly follow the "4% rule," while others just live off dividends, pensions, and/or government benefits, never touching their principal. This often results in a massive amount of money left over when they pass away. That is money that could have been spent enjoying life, creating memories with family, or donating to charity, rather than leaving a giant inheritance, and a giant tax bill to the government. So, how do we find that balance? How do we calculate a spending number that is safe, but still lets us enjoy our lives? To answer this, I invited Thuy Lam back on the show. Thuy is a Certified…

People in this episode

Host: Kornel Szrejber

Guest: Thuy Lam

Topics covered

• financial independence
• withdrawal strategies
• cashflow planning
• spending balance
• investment management

Keywords

• financial plan
• safe withdrawal rate
• investment spending
• retirement planning
• cashflow strategy

Mentioned in this episode

Organizations: Certified Financial Planner

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