The links below point to some of the research that inspired and influenced the Flexible Retirement Planner. The planner doesn’t directly implement any of the decision rules or other algorithms described in the listed papers and web sites, but the writings have provided ample food for thought as the planner has evolved over the years.
This is an earlier article by Jonathan Guyton on withdrawal decision rules that also appeared in the FPA’s Journal of Financial Planning.|
This is a small piece from a contributor to the Seeking Alpha site that critiques the paper by Milevsky above and also has some debate in the comments on how to model portfolio returns in long term Monte Carlo simulations.|
This article is a bit dated but provides a quick summary and links for several retirement withdrawal studies including Bengen, Harvard, and Trinity.|