GuidedChoice Revises Retirement Income Advice Program

January 28, 2011 ( - GuidedChoice has announced the launch of GuidedSpending 2.0, a major revision of its retirement income advice program.

GuidedSpending was designed to replace the ‘4% rule’ approach long used by financial planners. It addresses the need for a way to find a personal answer about the amount of money to withdraw each year in retirement in a way that is both more flexible and more effective, according to the announcement.   

It will be offered to all participants in a plan, rather than just executives.  

“Like many other rules of thumb, the 4%-a-year approach to withdrawing retirement income is easy to criticize as being at best inefficient, and at worst downright dangerous. It’s certainly not grounded in any actual economic analysis,” stated Chief Architect Harry M. Markowitz, in the announcement. “Our research has shown that a fixed annual drawdown is not only unworkable, but it doesn’t reflect the reality of people’s income and spending patterns, either.”  

More information is at