Market Cycles and Safe Withdrawal Rates

Harris, John
September 2009
Journal of Financial Planning;Sep2009, Vol. 22 Issue 9, p38
Academic Journal
The article focuses on the author's discussion on secular market cycles. He explores the relationship between long-run technological trends and security valuation. He discusses the U.S. secular cycles history and the factors in leading to this cyclic market behavior. He stresses the need for financial planners to be aware of long-run market cycles when establishing appropriate safe withdrawal rates. Moreover, he outlines the impact sequence risk it can have in the performance of client portfolios over extended periods. He examines secular cycles through the behavior of the S&P 500 Composite Index from I88I-2000.


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