Rule of thumb or thumbs down?

Retirement advising has many rules of thumb. But aren't some rules meant to be broken?

One of those rules is to "plan to 95." As the conventional wisdom goes, wealth managers should plan their clients' finances so they can live comfortably into their 10th decade. But since few Americans actually live that long, could there be a better way? A new study recommends a more scientific approach.

And then there's "the 4% rule": For each year of your retirement, withdraw 4% of your long-term savings, plus a bit extra to account for inflation. But in an age when inflation remains stubbornly elevated, does that math still make sense? Retirement researchers say this guideline is in need of an update.

And then there's this old chestnut: "The customer is always right." But what if a client is bullying their advisor to make personal decisions for them? That's the subject of our latest "Ask an Advisor" column.

It's all in Financial Planning. Have a great week!