Beware of Wall Street “wisdom” now more than ever. Especially when it comes to the most commonly quoted maxim for retirement: it’s based on a rule that was never designed for times like these!
I’m talking about the so-called “4% rule,” which says you should sell 4% of your nest egg every year in retirement.
Sounds simple, right?
Trouble is, it slashes your income stream and caps your upside in one go! It’s especially dangerous advice to follow in a downturn like the one that’s hit us in the last few months.
Luckily, there’s a better way than Wall Street’s flawed 4% approach. It involves moving more of our return away from wild stock charts and toward a huge cash stream that holds up through a crisis.
The post My Top Dividend Strategy Delivered a 161% Return (Here’s How It Works) originally appeared at Contrarian Outlook.