Free Republic

In recent years, it has become a rule of thumb that many retirees can safely withdraw 4% or 5% a year from their investments and feel confident about their chances of having their savings last the rest of their lives. Lending credibility to these withdrawal rates are complex computer models that assess the odds of success based on thousands of possible market scenarios. But as powerful as those computers may be, retirees may be overlooking some basic variables -- such as current interest rates and stock valuations -- that will have a direct impact on how long their money lasts....